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GSK share price: Pharmco’s Vaccines boss to leave company

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The boss of GlaxoSmithKline’s (LON:GSK) Vaccines business is leaving the company, the blue-chip pharmco has said. The news comes after the London-listed drugmaker recently announced that its chief financial officer Simon Dingemans had informed the company’s board of his plans to step down in May next year.

GSK’s share price has advanced in today’s session, having added 0.53 percent to 1,544.20p as of 13:46 BST. The stock is outperforming the broader UK market, with the benchmark FTSE 100 index having fallen into negative territory and currently standing 0.21 percent lower at 7,721.23 points. The group’s shares have given up just under nine percent of their value over the past year, as compared with about a 2.7-percent gain in the Footsie.

Vaccines boss leaves GSK

GSK announced in a statement today that Luc Debruyne, President of its Vaccines business, was to leave the company at the end of the year, after spending nearly three decades with the blue-chip pharmco. He has held his current role for the last five years, overseeing the integration of Novartis vaccines’ business.

Debruyne will be succeeded by Roger Connor, currently President of the FTSE 100 group’s Global Manufacturing & Supply unit, on September 1. With effect from the same date, Regis Simard will be appointed President, Pharmaceutical Supply Chain. Simard is currently SVP Global Pharma Manufacturing.

Analysts on UK drugmaker

Barclays reiterated its ‘overweight’ stance on the blue-chip pharmco yesterday, leaving its price target on the shares unchanged at 1,700p. According to MarketBeat, GSK currently has a consensus ‘hold’ rating and an average valuation of 1,549.52p.

GSK recently updated investors on its first-quarter performance, disclosing falls in profit and turnover, having suffered from a rise in the pound.

As of 15:03 BST, Tuesday, 12 June, GlaxoSmithKline plc share price is 1,544.40p.

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