GSK switches CEO as Trump tariffs test pharma / Photo: ANDREW CABALLERO-REYNOLDS - AFP/File
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
Energy Costs Push OECD Inflation Up to 4.5%
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
China's Singles' Day Exposes Persistent Consumer Caution
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
-
Early Black Friday Walking Pad Deals: Urevo and WalkingPad Discounts
-
Nvidia faces scrutiny over alleged Chinese intelligence link to Jensen Huang
-
Radical Numerics develops offline AI tool to detect engineered pathogens
-
Chennai orders inquiry after dogs die at shelter; two veterinarians face action
-
Kiara Advani Reveals Sidharth Malhotra’s Reaction to Toxic Backlash
-
Startup turns Chennai’s history and culture into an interactive world
-
Four firms compete to design Chennai’s model mobility corridors
-
LiveOne (NASDAQ:LVO) Reports H1 Fiscal 2027 Revenue of $37.3M and Audio Division Revenue of $36.3M with Over $7.8M Adjusted EBITDA*
-
West Palm Beach Plastic Surgeon Dr. Thomas Pane Discusses When Liposuction May Be Considered for Lipedema
-
NuRAN Wireless Highlights Recurring Revenue Economics and Growth Potential of Its 5,092-Tower Contracted NaaS Portfolio
-
GameSquare Announces Peaky Blinders Digital Fan Experience, Advancing the Company's IP Monetization Strategy
-
UFC Hall of Famer Michael Bisping Backs Xycota Biosciences' Low-Dose Psilocybin Research on PTSD and Concussion
-
SMX Bridges AI and Industrial Material Science With New Intelligence Platform
-
PodcastOne (NASDAQ:PODC) Reports Record 1H & Q2 Fiscal 2027 Financial Results; 1H Fiscal 2027 Revenue of $31.5M and Adjusted EBITDA* of $2.9M
-
SRH Total Return Fund, Inc. Increases Its Quarterly Distribution By 15% - Sixth Consecutive Annual Increase
-
Ondas Posts Record Q3 2026 Revenue of $167.5 Million on Strong Bookings and Backlog Growth; Raises Full-Year Outlook
-
Bloomia Holdings, Inc. Announces September 30, 2026 Financial Results
-
Greene Concepts Advances Bulk Water and Co-Packing Strategy
-
Amarc and Freeport Successfully Complete 2026 Joy Copper-Gold District Exploration Program
-
Nextech3D.ai to Present at the Small Cap Growth Virtual Investor Conference November 18th at 12:30 p.m. ET
-
Impauer Technologies Unveils Frictionless Gasless Transaction Routing for Pauerone Wallet V2
-
BK Technologies Reports Third Quarter of Fiscal Year 2026 Results
GSK switches CEO as Trump tariffs test pharma
British pharmaceutical giant GSK on Monday said longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January, as the company navigates US tariffs on the sector.
Luke Miels will take over on January 1 from Walmsley, who will have been at the helm for almost nine years, GSK said in an unexpected announcement.
GSK earlier this month said it planned to invest $30 billion in the United States over the next five years.
The investment was announced before US President Donald Trump said last week that he would impose 100-percent tariffs on all branded pharmaceutical products from Wednesday, unless companies are building manufacturing plants in the United States.
"2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership," Walmsley said in the company's statement.
"Today, GSK is a biopharma innovator, with far stronger momentum and prospects than nine years ago," she added.
Miels, 50, said he will be leading a company "with outstanding prospects".
"As the next CEO, I am privileged to take on this responsibility, with humility and ambition," he added.
Following news of the appointment, GSK shares jumped 3.5 percent, topping London's benchmark FTSE 100 index in early deals.
- Covid, spin-off -
Following their recent announcements to invest substantially in the United States, GSK and its British rival AstraZeneca will be hoping for some kind of exemption, similar to that which the European Union says it is set to gain thanks to a trade deal with the world's biggest economy.
A former AstraZeneca executive, Miels's annual base salary as CEO will be £1.375 million ($1.85 million), below Walmsley's current level.
However, he could earn millions more in yearly and long-term bonuses, the company statement noted.
Walmsley, who was also promoted from within as CEO, steered GSK through the Covid-19 pandemic and the separation of its consumer healthcare division.
The 56-year-old spun off the unit in 2022, later name Haleon, to concentrate on GSK's main pharmaceutical business.
It came after Walmsley faced intense activist shareholder pressure over the company's delays in producing Covid jabs and treatments.
More recently, she oversaw GSK agreeing to pay $2.3 billion to end lawsuits alleging that its heartburn drug Zantac caused cancer, despite the group not admitting liability.
That hit its annual profit in 2024, with the group on course for an improved performance this year thanks to booming sales of cancer medicines.
F.Pedersen--AMWN
