--Hedge fund Elliott Management Corp. has amassed a multibillion-pound stake in British pharma company GlaxoSmithKline PLC, the Financial Times reports.

--Elliott's investment comes after shareholders' disappointment at the leadership of CEO Dame Emma Walmsley, who is breaking up the company starting next year by separating the consumer-health business and the vaccine division, according to the FT.

--GSK management is also being blamed for underperforming peers and lagging in the race to develop a Covid-19 vaccine, the FT reports.

--GSK shares are up 64.2 pence, or 5%, at 1,353.8 pence.

 

Full story: https://on.ft.com/3uK3MjU

 

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(END) Dow Jones Newswires

April 15, 2021 09:06 ET (13:06 GMT)

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