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. 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 from The Telegraph
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