Placing its trust in a gene profiling group backed by Google is a promising plan
It has been almost two decades since the first bosses of the newly merged GlaxoSmithKline talked up the medical wonders that would flow from the unravelling of the human genome. GSK would become the “Microsoft of the pharmaceutical industry”, they said.
To put it mildly, the corporate vision hasn’t been realised. GSK’s share price stood at £20 at the time of the turn-of-the-century merger and is £15.42 today. Lack of productivity in the labs has been a constant complaint. The genetics revolution is happening, but not at the pace originally promised, at least not at GSK.