Novartis and GSK agree $16bn oncology deal April 22, 2014 Another pharmaceutical deal this morning. Swiss drug maker Novartis has announced that it’s doing an exchange of certain assets with GlaxoSmithKline (GSK), as part of its company overhaul. It’ll buy the latter’s oncology unit for $14.5bn (£8.6bn), with up to $1.5bn also being paid to reach an agreed development milestone. The deal will also see [...]
Fresh bribery claims hit Glaxo April 16, 2014 UK-BASED pharmaceuticals giant Glaxosmithkline has been hit by another set of allegations over bribery, admitting yesterday that it is investigating the actions of some staff in Lebanon and Jordan. “We are investigating allegations regarding the activity of a small number of individuals in our operations in Jordan and Lebanon,” it said in a statement yesterday. [...]
Drug firm Glaxo faces a bribery probe in Poland April 14, 2014 GLAXOSMITHKLINE is facing a criminal investigation in Poland for allegedly bribing doctors to promote one of its drugs, it emerged yesterday. The FTSE 100-quoted pharmaceuticals giant has already been accused of corruption in China and Iraq. The case was highlighted by BBC Panorama, which said the probe involved 11 doctors and a GSK regional manager, [...]
GSK ends trial of lung cancer drug April 2, 2014 GlaxoSmithKline (GSK) has announced this morning that it’s decided to stop a third-phase trial of MAGE-A3ii, the lung cancer drug, after being unable to identify a group of patients that’ll benefit from the treatment. GSK said that a recent trial showed the drug “did not significantly extend disease-free survival when compared to a placebo”. It [...]
GlaxoSmithKline set to expand in African markets March 31, 2014 GLAXOSMITHKLINE will today outline its expansion plans in Sub-Saharan Africa, building new factories across the region to tap into opportunities in emerging markets. A spokesperson from the FTSE 100-quoted pharmaceuticals giant told City A.M. that the multimillion-pound investment is part of a broader announcement by chief executive Sir Andrew Witty at the EU-Africa Business Summit [...]
Witty proves a big hitty with GSK employees March 20, 2014 WHEN you start a new job, it can be quite difficult to know whether you’re walking into the garden of worklife Eden or the gates of Hades. Unless you’ve got someone on the inside. Lucky you. Well thanks to the people at Glassdoor (it’s all about transparency – see what they did there) we have [...]
London Report: Failed vaccine test for Glaxo pricks the FTSE March 20, 2014 BRITAIN’S top equity index fell yesterday, hit by a drop in drugs giant GlaxoSmithKline and a hint from the Federal Reserve that US interest rates may rise sooner than previously expected. The blue-chip FTSE 100 index, which rose 14.4 per cent in 2013 and came close to a 13-year high in January, closed down 30.69 [...]
GSK ups stake in Indian unit to 75pc March 10, 2014 Britain's biggest drug maker GlaxoSmithKline (GSK) has announced that, following the voluntary open offer by its subsidiary, it has successfully hiked its stake in its publicly-listed Indian unit, from 50 per cent to 75 per cent. The company said GSK Pharmaceuticals Limited will remain publicly-listed. David Redfern, chief strategy officer, commented: We are very pleased [...]
Glaxo insists its pipeline will be key to profit lift February 5, 2014 UK PHARMA giant GlaxoSmithKline brushed off worries over the Chinese bribery scandal yesterday, announcing sales growth for the end of last year and a bullish forecast for 2014. Revenues should climb by two per cent this year, Glaxo expects, driving earnings per share growth of between four and eight per cent. The company, Britain’s largest [...]
London Report: FTSE pares back losses after RSA and Glaxo rally February 5, 2014 THE UK’S top top equity index snapped a five-day losing streak yesterday, lifted by rallies in insurer RSA and pharma group GlaxoSmithKline. Shares in RSA rose 4.6 per cent on expectations its new chief executive Stephen Hester, credited with salvaging RBS, would help turn around the insurer, which is struggling with a £200m pound ($330m) [...]