GSK/Dave Lewis: heavyweight adds heft to consumer health demerger

Despite attacks from US activist investor Elliott, GSK is standing its ground. The latest sign is Monday's announcement that ex-Tesco boss Sir Dave "Drastic" Lewis will chair the consumer health division. Elliott supports GSK's "Wise" decision to separate the consumer health business. Valuing the business is complicated by the absence of pure-play consumer health companies on the market. A hope - which GSK and Elliott share - is that consumer-focused investors and analysts will put a higher valuation on the business than pharma experts currently do.

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