GSK to offload scores of brands

Pharma giant Glaxosmithkline (GSK) says it will offload more than 130 of its non-core brands as it extends a major cost cutting programme that saw it announce 320 job cuts last week.

It is one of the first major moves by GSK under new chief executive Emma Walmsley, and is meant to help deliver an additional £1 billion in annual cost savings by 2020.