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GlaxoSmithKline is putting away childish things. The pharmaceuticals group’s decision to sell Lucozade and Ribena, the popular children’s drinks, will cause pangs of nostalgia across the U.K., their main market. It is the right decision, however. The bigger news in Wednesday’s first-quarter results announcement is the grown-up move to place 50 “tail brands” with combined 2012 sales of £3-billion ($4.7-billion) into a separate division which will report separately from 2014. That echoes similar thinking at Pfizer, and sounds like the prelude to an eventual disposal.Report Typo/Error
- GlaxoSmithKline PLC$38.75-0.30(-0.77%)
- Pfizer Inc$32.67-0.28(-0.85%)
- Novartis AG$82.76-0.42(-0.50%)
- Sanofi SA$48.19+0.11(+0.23%)
- Abbott Laboratories$48.74-0.55(-1.12%)
- AstraZeneca PLC$29.12+0.04(+0.14%)
- Bristol-Myers Squibb Co$56.42-0.35(-0.62%)
- Eli Lilly and Co$77.07-0.73(-0.94%)
- Updated August 18 4:00 PM EDT. Delayed by at least 15 minutes.