GlaxoSmithKline trades assets with rival Novartis April 22, 2014 FTSE 100 drug giant GlaxoSmithKline (GSK) yesterday unveiled a complex string of asset deals with Swiss rival Novartis in a move set to deliver a £4bn windfall for shareholders. GSK closed up 5.2 per cent in trading yesterday after investors cheered the three-part transaction, which will see the business sell its cancer drugs offering to [...]
London Report: Glaxo pharma deal puts FTSE market on high April 22, 2014 CORPORATE activity in the pharmaceutical sector yesterday pushed Britain’s benchmark stock index to a two-week high and to within sight of a peak for the year so far. Drugmaker AstraZeneca rose 4.7 per cent, with trading volumes in the stock more than three times its 90-day average, after the Sunday Times reported a £60bn approach [...]
What does GSK’s “transformational deal” mean for the rest of the sector? April 22, 2014 It looks like pharma M&A frenzy may have returned, with the slew of activity over the Easter weekend buoying European markets as big players see substantial gains. A $16bn (£9.5bn) three-part tie-up between GlaxoSmithKline (GSK) and Novartis will see the former buy the latter’s oncology unit, along with the setting up of a global consumer [...]
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 [...]