Wednesday, April 23, 2014

GSK plc

Only last week, the MD of Indian subsidiary of GSK plc, GSK Pharma, told its shareholders in the AGM that the company would be introducing a colorectal cancer drug shortly. The company also looked forward to selling a drug for treatment of leukemia.

GSK plc has since announced that it is disposing its oncology products to Novartis. Does this mean that the parent company does not care enough for its subsidiary to evince interest in what is discussed in the latter's AGM? This also is tantamount to misleading the shareholders, intentionally or otherwise.

No comments: