GlaxoSmithKline has suffered several setbacks this year. A cancer drug seen as a potential “blockbuster” failed a late-stage trial, while another drug suffered an unexpected delay owing to Covid-19, says Jamie Nimmo in The Times. Some analysts worry that these “serial disappointments” are becoming a “major concern for GSK’s... outlook”. But help may be at hand. Elliott, the US hedge fund led by activist investor Paul Singer, who is “feared in boardrooms” worldwide, took an undisclosed multibillion-pound stake in GSK last week. The news boosted the shares by 4.6%.
No wonder shareholders are frustrated, says Lex in the Financial Times. GSK’s share price has moved sideways since Emma Walmsley was appointed CEO four years ago. However, “one wonders what change is sought”. After all, while most activists “demand some form of corporate divestments or restructuring”, Walmsley “already has this in train”, with a “long-planned” flotation of GSK’s consumer health business due in the next year, “leaving a biopharma core behind”.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Average pension pot by region – how do your retirement savings compare?Making sufficient savings for retirement is critical to ensure you can enjoy your later years without too many financial worries, but new data suggests some are saving far more than others. We look at the average pension pot by region.
-
Could colour diamonds add a sparkle to your portfolio?Diamonds of various shades never go out of fashion, says Chris Carter
-
Could colour diamonds add a sparkle to your portfolio?
Diamonds of various shades never go out of fashion, says Chris Carter
-
Okta: an undervalued cybersecurity playOkta provides vital security services and appears cheap considering AI’s growing prominence
-
Should you invest in Pakistan – the Vietnam of South Asia?Opinion If Pakistan is now serious about reform, it’s time for investors to buy, says Maryam Cockar
-
Why it pays to invest in family firms – and how to buy inIt makes sense to invest in family firms. Here are some of the best to buy now
-
'Why you must own gold and Bitcoin'Opinion The world is dedollarising, and gold and Bitcoin are the only alternatives. Buy now, says Dominic Frisby
-
8 of the best properties for sale with mountain viewsThe best properties for sale with mountain views – from an Arts & Crafts house with holiday lets in the Carding Mill Valley in Shropshire to a highland lodge with wood-burning stoves near the Rogie Falls in the Scottish Highlands
-
'Where to find the world’s hidden gems offering durable growth and value'Opinion Joe Bauernfreund, chief executive officer and chief investment officer, AVI Global Trust, highlights three businesses where he'd put his money
-
What are wealth taxes and would they work in Britain?The Treasury is short of cash and mulling over how it can get its hands on more money to plug the gap. Could wealth taxes do the trick?
