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GLAXF - GlaxoSmithKline: Healthcare GARP Following Separation
GlaxoSmithKline Plc
As of October, GlaxoSmithKline had 4 drugs in registration and 24 drugs in phase 3 trials.
Even though the dividend is going to be cut with a current yield of around 3.43% (55p - from both businesses), 'New GSK' is positioned as a strong GARP play.
New GSK has a long way to go to restore investor confidence but the separation of the consumer healthcare unit is a positive move.
Traders might take a long/short on New GSK/CH depending on valuations post-separation.