RESEARCH TRIANGLE PARK – Drug giant GlaxoSmithKline will have a new board chair as of Sept. 1 with industry veteran Jonathan Symonds succeeding Philip Hampton.
The company announced the news Wednesday just before disclosing its latest earnings with revenue increasing nearly 7 percent year-over-year.
“I am delighted to be joining GSK, at what is a really important time for the company as it seeks to create value from its new R&D approach, and to create two, new world-leading companies, one focussed on Pharmaceuticals and Vaccines, the other on Consumer Healthcare,” Symonds said in a statement.
GSK noted that Symonds is Deputy Group Chairman of HSBC Holdings plc is a former chief finacial officer at Novartis as well as AstraZeneca.
The move comes as GSK prepares to spin off its consumer healthcare businesses in a joint venture with Pfizer.
GSK maintains research and development operations in RTP and a manufacturing plant in Zebulon.
Earnings report
“GSK delivered continued good operating performance in Q2 despite the loss of exclusivity of Advair. We are increasing our expectations for the year and have updated our guidance for 2019,” GSK CEO Emma Walmsley said of the financial news.
“We remain focused on strengthening our R&D pipeline and the execution of new product launches. Positive clinical data received so far this year offer significant new opportunities for products in Oncology, HIV and Respiratory and we expect more important readouts in the second half of the year. We also expect to complete our joint venture with Pfizer shortly, laying the foundation for the creation of two great companies: one in Pharmaceuticals/Vaccines; one in Consumer Healthcare.”
