GlaxoSmithKline Shares Fall by as Much as 40%

Glaxo CEO Mr Jean-Pierre Garnier is the third most highly paid executive in the UK. His precise pay is obscured by shrouds of highly technical bonuses and share options. But his current package, worth an estimated £7m, made him the third highest-paid FTSE-100 company boss in the recent Guardian/Inbucon executive pay survey. Garnier has presided over the disastrous merger of two giant British multinational drug companies: Glaxo Welcome and SmithKline Beecham. The share price has fallen by 40%, profits by 25%, and more serious still, the pipeline of new products is so poor that the company has shelved its regular update to investors on research and development. More at
http://www.guardian.co.uk/medicine/story/0,11381,845968,00.html

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