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Home Industry News GSK lays out strategic priorities

GSK lays out strategic priorities

25th July 2008

GlaxoSmithKline (GSK) has outlined its new strategic priorities in a presentation given to investors earlier this week.

The firm has resolved to grow a diversified global business, to deliver more products of value and to simplify its operating model.

It said these priorities would facilitate an increase in growth, a reduction in risk and an improvement in the long-term financial performance of the company.

GSK claims the future healthcare environment presents challenges but also opportunities to those firms who seize the initiative and discover methods of creating products of value.

It hopes to make investments in fast-growing areas in the industry such as consumer healthcare, vaccines and biopharmaceuticals to supplement its strength in its core small-molecule pharmaceuticals business.

Andrew Witty, chief executive officer of the company, said: “Our aspiration to improve the lives of patients and consumers is intrinsically aligned to the requirements of our shareholders.”

He added that the company’s new strategic profiles will offer a more disciplined allocation of its capital across all the different areas of its business.

Earlier this week, GSK announced the signing of an agreement with the University of Cambridge to establish academic incubators to further research for treatments for obesity and addictive disorders.

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