GlaxoSmithKline CEO Jean-Pierre Garnier struck back at critics over the weekend in an interview with London's Telegraph newspaper. He blamed a slide in the overall pharmaceuticals industry for the company's lackluster stock performance, which has drawn fire from investor groups [0]. Garnier also turned his nose up at the idea of spinning off Glaxo's consumer business, a notion that's been promoted by some investors and stock analysts.

Garnier trumpeted the company's pipeline--with 33 drugs in late-stage development, compared with two when he took over in 2000--its cost ratios, and its productivity. Whether this will suffice to shout down his detractors remains to be seen.

- read the article [1] from The Telegraph

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