Q3 2020 Sales Performance
Preparing for 2 new companies
gsk
New GSK
Common approach to R&D and capital allocation
Capabilities and efficiencies in support functions
Leaner organisation, leveraging recent and ongoing technology
investments, consistent operating models and location strategy
Optimise supply chain and product portfolio including
through non-core divestments
Major restructuring savings and costs
£ bn, 2019 FX
0.8
0.7
0.3
0.1
2-year
separation
programme
2020
2021
2022
2023
25% manufacturing footprint reduction since 2017 – maintain
momentum, competitive network fitting portfolio by 2022
Cash
0.6
0.6
0.4
0.0
Non-core divestment proceeds to fund cash costs of
programme and delivering New GSK
Non-cash
0.3
0.3
0.2
0.0
Total
0.9
0.9
0.6
0.0
New Consumer Healthcare
Build technology infrastructure and corporate functions required to operate as a standalone company
Estimated one-time charge of £600-700m with the majority incurred prior to separation
No change to Adjusted operating margin outlook of mid-to-high 20s by 2022 for Consumer Healthcare
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