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Glaxo's Witty says will keep consumer business

Thu Feb 7, 2008 8:33am EST

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(Corrects spelling of "its" in third paragraph)

Stocks  |  Mergers & Acquisitions

LONDON, Feb 7 (Reuters) - GlaxoSmithKline Plc's (GSK.L) incoming chief executive Andrew Witty said on Thursday he had no intention of selling the group's consumer healthcare business.

"It plays absolutely to the synergies we've always believed have been there in terms of connectivity with the R&D-based pharmaceutical company and, from where I sit, the output of that organisation makes it a key part of this company," he told reporters.

"It's fast-growing, its margin is at the high end of the sector for consumer companies, we're proving we're great managers for that business and, for me, that checks all the boxes as far as that being a terrific part of this company."

Witty takes over as head of Europe's biggest drugmaker from May 22. (Reporting by Ben Hirschler)



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