GSK's new CEO aims to divest sports nutrition brand: sources

GSK's new CEO aims to divest sports nutrition brand: sources

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GSK bought the business, which makes protein bars, drinks and powders, for 162 million pounds ($205 million) in 2010 under previous CEO Andrew Witty. It is best known for its Maximuscle products for weight-trainers.

The original acquisition was seen as complementing GSK's Lucozade sports drinks. Lucozade, however, was sold in 2013 and Walmsley, who took over on April 1, has decided the UK-focused MaxiNutrition business no longer fits in the wider group.

GSK's consumer healthcare business, which was previously led by Walmsley and includes an extensive range of over-the-counter medicines, is heavily geared towards global brands.

The proceeds from the sale of MaxiNutrition will not move the dial significantly at the drugs giant, which has a market value of 85 billion pounds, but the decision shows Walmsley is ready to reverse past management decisions.

A spokesman for GSK declined to comment on the divestment plans, which were first reported by Sky News.

Walmsley is due to outline her vision for GSK alongside half-year results next month. She has already made clear that a key priority will be improving research productivity in the core prescription drug business.

($1 = 0.7885 pounds)

(Reporting by Ben Hirschler and Pamela Barbaglia; Editing by Lisa Shumaker)

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