UK pharmaceutical company has been under pressure to rebuild portfolio of new medicines
Shares in GlaxoSmithKline jumped on Thursday, after it emerged that the activist hedge fund Elliott Management has built a sizeable stake in the company, signalling a potential battle over the future of the UK drug maker.
New York-based Elliott, which is run by the billionaire Paul Singer who founded the firm in 1977, is understood to have made the multibillion-pound investment in recent days.
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