--GlaxoSmithKline PLC won't be pushed into a sale of its vaccines and pharmaceuticals business by activist U.S. hedge fund Elliott Management, The Times of London reports.

--Elliott isn't planning to agitate for reducing the pharmaceutical giant's 5 billion-pound ($7.06 billion) research and development budget and will back GlaxoSmithKline staying in the U.K., The Times says.

--Speculation had been raised by investors and analysts over Elliott's intentions after it was discovered in April that the activist fund had acquired a multi-billion pound stake in the company, The Times reports.

Full story: https://bit.ly/3i05I4y

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(END) Dow Jones Newswires

May 27, 2021 01:26 ET (05:26 GMT)

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