Global Counsel loses more clients as Epstein scandal deepens Advisory The crisis engulfing the lobbying firm founded by Peter Mandelson, Global Counsel, deepened on Tuesday, after three more of its blue-chip clients parted ways with the advisory over its links to co-founder Mandelson and the convicted sex trafficker Jeffrey Epstein. City AM understands that pensions giant Phoenix, Tesco and Bank of America have all severed [...]
GSK to acquire US biotech group for $2.2bn Business FTSE 100 giant GSK has reached an agreement to acquire US based biotech group Rapt Therapeutics. The deal values the company, which develops therapies for treating people with inflammatory and immunologic diseases, at $2.2bn (£1.6bn), and marks the first major deal for new GSK chief executive Luke Miels, coming just weeks after he took charge [...]
GSK strikes deal to cut drug prices with US government GSK has struck a voluntary agreement with the US government to lower the cost of prescription medicines and expand access to treatments for millions of Americans. The move comes as pressure mounts on global drugmakers over pricing, tariffs, and domestic investment. The London-listed pharma giant said the deal covers medicines used by over 40m US [...]
UK and US agree to zero tariff deal on pharmaceuticals December 1, 2025 The government has agreed to a major deal with Washington that will see the UK become the only country to secure zero import tariffs on pharmaceutical products into the US for at least three years. The deal follows months of negotiations between the government and the Trump administration, after the June trade deal left the [...]
COP out: Big businesses swerve climate conference November 18, 2025 COP 26 in Glasgow represented a high-water mark for companies flouting their ambitious transition plans and lofty climate credentials. This year’s summit could not be more different, writes Ali Lyon. Reclining on stage at the 26th COP summit in his native Glasgow, Alan Jope was at home both literally and spiritually. The Unilever chief executive [...]
GSK shares jump as profit upgrade defies tariff gloom October 29, 2025 Shares in GSK climbed as much as three per cent to 1,705p on Wednesday morning as the pharma giant defied tariff fears with an upgrade to its profit guidance. The London-based business said it now expects turnover to increase by six to seven per cent for the full year 2025, up from its previous guidance [...]
FTSE 100 Live: Next sales jump; GSK profit upgrade October 29, 2025 Good morning from the City AM liveblog team. If there are fears about an AI bubble, no one’s telling the folk over on Wall Street. Yesterday both Apple and Microsoft saw their stocks jump, making them both $4tn companies, joining an exclusive club of which chipmaker Nvidia is the only other member. This was the [...]
Ministers planning drug pricing shake-up to stem pharma exodus October 8, 2025 Ministers are drawing up a radical overhaul of NHS spending rules in a bid to shore up the UK’s world-leading life sciences industry after a string of pharma giants cancelled major UK investment projects. In what would amount to one of the largest shake-ups of NHS drug purchasing rules in recent history, the Prime Minister [...]
GSK shares rally as chief Emma Walmsley to exit after eight years September 29, 2025 The chief executive of pharmaceutical giant GSK has announced plans to step down from the company at the end of the year. Emma Walmsley, who took the helm of the drugmaker in 2017, will be replaced by chief commercial officer Luke Miels. Miels – the former Executive Vice President of Astrazeneca – also joined the [...]
GSK plots $30bn investment into US in latest blow to UK’s pharma sector September 17, 2025 GSK has unveiled a new plan to spend $30bn (£22bn) on research and manufacturing facilities in the US. The London-based business said the capital would be deployed over the next five years and would create hundreds of high-skilled American jobs in areas such as AI and advanced digital technologies. The investment of £4.4bn per year [...]