GlaxoSmithKline (GSK) has announced it plans to sell its Horlicks brand of drinks in the UK as well as its MaxiNutrition business.
It is the first major move by GSK chief executive Emma Walmsley who took the helm at the UK pharmaceutical company four months ago. Presenting her first set of results in April, she said there were ‘tough choices’ to be made, and signalled that products not bringing in sufficient value for the company would be sold.
Similarly, GSK aims to shift its focus on its pharmaceuticals sector, which accounts for more than half – £16.1 billion – of its £27.8 billion annual sales.
Philip Thomson, president, global affairs, GSK, said: “We are continuing to invest in science and our core businesses in the UK and we continue to see the UK as an attractive place for the life sciences industry. “We are working constructively with the government and others to develop an ambitious plan for the sector as part of the UK’s new industrial strategy.” (Foodbev, 2017)