Unilever acquires Horlicks brand in India in £397m deal April 1, 2020 Consumer goods giant Unilever has today completed the acquisition of Horlicks and other Glaxosmithkline brands in a £397m deal. The deal will allow Unilever to use the Horlicks brand rights and other GSK Consumer Healthcare nutrition brands in predominantly Asian markets. The company’s listed subsidiary in India, Hindustan Unilever Limited (Hul) also announced today that [...]
GSK falls short of forecasts as firm prepares to split February 5, 2020 Multinational drug firm Glaxosmithkline (GSK) saw a small rise in operating profit and earnings in 2019 as the firm announced it had begun its planned split into two companies following its venture with Pfizer. However, earnings per share fell short of analyst expectations at 123.9p, below consensus estimates of 125p. Pressure on the price of [...]
Glaxosmithkline posts third-quarter sales growth after Pfizer purchase October 30, 2019 Glaxosmithkline have reported group sales of £9.4bn for the third quarter, with total operating profits of £2.1m, compared with £1.9m for the same period in 2018. The drug manufacturer raised its forecast for 2019, saying that it now expected profits to be flat compared to last year, up from a previous estimated of a three [...]
GSK continues pharmaceuticals push with $1.1bn vaccines sale October 21, 2019 Glaxosmithkline (GSK) has today announced the sale of two travel vaccines worth up to $1.1bn (£846.9m) to Bavarian Nordic, continuing its push into the cancer drug market. The sales of Rabipur, an anti-rabies drug, and Encipur, which is used to prevent encephalitis, to the Denmark-based biotech firm, will include an upfront payment of €301m (£258.5m), [...]
GSK eyes former Astrazeneca CFO for empty chair July 14, 2019 Drugmaker Glaxosmithkline is set to announce the former finance boss of Astrazeneca as its new chair to oversee the breakup of the business. GSK is preparing to appoint Jonathan Symonds as its new non-executive chair, Sky News reported earlier. Read more: GSK to split as it forms £9.8bn consumer health venture with Pfizer The announcement [...]
FTSE 100 bosses to meet President Donald Trump during UK state visit May 31, 2019 A group of FTSE 100 chiefs will meet US President Donald Trump during his state visit to the UK next week, Sky News has reported, along with the heads of various US companies. Read more: European stock markets bleed red as Trump takes trade war to Mexico The bosses of Barclays, National Grid, BAE Systems, [...]
UK’s biggest companies pull away as profits for rest of pack plunge May 8, 2019 Average profits at the UK’s 40 biggest companies rose by 11 per cent in the first quarter of the year while those outside the group saw a fall of 18 per cent, new analysis has shown, laying bare a stark division in the fortunes of British companies. Read more: 'Zombie firms' dragging down UK economy, [...]
Vectura shares get a shot in the arm after drug maker wins GSK patent infringement case May 7, 2019 British pharma group Vectura shares rose 11 per cent today after it won a patent infringement litigation case against Glaxosmithkline in the US on Saturday. The drug maker has been awarded $89.7m (£68.8m) in damages after a jury trial in Delaware, US, found one of its patents was infringed by three GSK products between August [...]
Pfizer shares rise as it beats Wall Street profit estimates for first quarter April 30, 2019 Pharma company Pfizer beat Wall Street estimates for first quarter profit today and raised its earnings forecast for the year. Revenue rose 1.6 per cent to $13.12bn, ahead of estimates of $12.99bn. Net profit rose nine per cent to $3.88bn, or 68 cents per share. Read more: GSK to split as it forms £9.8bn consumer [...]
May called business chiefs to reassure over latest change in Brexit negotiation plan April 3, 2019 Theresa May last night tried to reassure bosses at some of Britain’s biggest firms, including Rolls-Royce, BT and GlaxoSmithKline, about her latest change in direction on Brexit negotiations. The PM hosted a call with the co-chairs of her business councils last night, shortly after announcing she would look for another extension to Article 50 so [...]