Archive


Category: Elliott Management

  • Second hedge fund applies pressure on GSK after taking stake

    Activist hedge fund Bluebell Capital Partners has joined Elliott Investment in taking a stake in GlaxoSmithKline and pushing for change at the drugmaker. In a letter to GSK chair Sir Jonathan Symonds, Bluebell has called on GSK to ask its chief executive Emma Walmsley to reapply for her job, and carry out a “thorough and […]

  • GSK backs CEO Walmsley, rejecting Elliott’s call to change board

    GlaxoSmithKline’s board had responded to the broadside attack delivered by activist investor Elliott Management yesterday, saying it stands firmly behind the leadership of chief executive Emma Walmsley. The drugmaker rejected calls by Elliott to change its board and accelerate the complete divestment of its consumer health unit which is due to be split from the […]

  • Elliott fires broadside at GSK in wake of investor update

    GlaxoSmithKline chief executive Emma Walmsley was no doubt hoping that an upbeat assessment of the firm’s prospects at an investor meeting last week would deflect criticism of her leadership from activist investor Elliott Management – but finds herself in the firing line once again today. The US hedge fund, run by billionaire Paul Singer, has […]

  • Elliott fires broadside at GSK in wake of investor update

    GlaxoSmithKline chief executive Emma Walmsley was no doubt hoping that an upbeat assessment of the firm’s prospects at an investor meeting last week would deflect criticism of her leadership from activist investor Elliott Management – but finds herself in the firing line once again today. The US hedge fund, run by billionaire Paul Singer, has […]

  • Under-pressure GSK sells stake in respiratory diseases partner Innoviva

    GlaxoSmithKline has sold its entire stake in its respiratory partner Innoviva, raising $392 million and simplifying its business ahead of a split into two. GSK is pushing ahead with a split into an innovative drugs business and a consumer healthcare firm, while the spectre of activist investor Elliott Management hangs over it. The fund run […]

  • Elliott Management could force out GSK CEO Walmsley, investor warns

    Speculation is mounting GlaxoSmithKline’s CEO Emma Walmsley may pay the price for the company’s lacklustre performance, after the dreaded activist investor Elliott Management built a stake in the struggling pharma. GSK is fast becoming thought of as the UK’s other pharma company following Pascal Soriot’s successful turnaround of AstraZeneca – but according to press reports […]

  • GlaxoSmithKline focuses on split after lacklustre Q1 results

    GlaxoSmithKline’s CEO Emma Walmsley said the company is focused on pursuing its strategy to spin off its consumer business after downbeat set of first quarter results. Pharma sales were down 12% compared with last year’s Q1 to £3.9 billion and its vaccines business has also been hit by a 32% slump as people put off […]

  • Activist investor Elliott builds stake in GSK after fresh trial upset

    Activist investor Elliott Management has built a significant stake in GlaxoSmithKline, after a poor run of clinical trial results this year raised questions about management’s strategy to turn around the company’s fortunes. The news follows another trial disappointment this week, where GSK’s feladilimab, combined with Merck & Co’s Keytruda (pembrolizumab), came up short in a […]