GlaxoSmithKline is considering spining of ViiV Healthcare, its fast-growing HIV drugs business, shared with Pfizer and Shionogi.
GSK has a stake of nearly 80 percent in ViiV, with Pfizer and Shionogi holding the rest. Analysts have valued the division at $27 billion.
GSK said the ViiV is considering an IPO in which investors would get a minority stake. Facing drug pipeline issues and China scandal, GSK CEO Andrew Witty said the decision to explore an IPO of a minority shareholding in ViiV Healthcare showed the company's financial flexibility.
In other streamlining efforts, GSK recently announced that it is seeking binding bids by next month for a portfolio of mature drugs worth more than $3 billion, marketed in North America and western Europe.
Read the Reuters press release