Activist investor Elliott takes multibillion pound stake in GSK: Report

Activist hedge fund Elliott Management has taken a multi-billion pound stake in GlaxoSmithKline, the Financial Times reported on Thursday, after a year that has seen the British pharma firm take a backseat role in the COVID-19 vaccine race.
 

Shares in GSK erased losses and traded more than 7% higher on the report, and were last up 5% at 1151 GMT.
 

A GSK spokesman declined to comment on the report. Elliott did not immediately respond to a request for comment.
 

Britain's GSK warned in February of a bigger than expected fall in 2021 earnings as the COVID-19 pandemic continues to disrupt