Philip Hampton is being lined up to replace Sir Christopher Gent as GSK’s next chairman August 7, 2014 Sir Philip Hampton is being lined up to take the role of chairman at Britain’s biggest drug company Glaxosmithkline after exiting Royal Bank of Scotland, Sky News reports. It’s said that Hampton will join GSK as early as next month as a non-executive director or deputy chairman, moving into the chairman’s seat by 2015. GSK’s [...]
GSK says separate consumer business is possible July 27, 2014 The chief executive of GlaxoSmithKline has said that he is open to the idea of creating a breakaway consumer healthcare business, the FT reports. Sir Andrew Witty said that a breakup of the group would be reasonable if a time came when a standalone consumer business offered more value. He said that his [...]
GSK seeks regulatory approval for the first ever malaria vaccine July 24, 2014 British drugmaker GlaxoSmithKline (GSK) has developed the world's first anti-malaria vaccine, designed for use on children in Africa. If GSK acquires the regulatory approval it is currently seeking, it will mark a big step forward in the fight against the mosquito-borne parasitic disease, which currently kills over 600,000 people a year. Most of [...]
GSK cuts profit outlook as lung drug sales slow July 23, 2014 GLAXOSMITHKLINE (GSK) cut its full-year outlook yesterday after posting a 13 per cent decline in second-quarter sales, as it struggled to maintain its position in the significant lung drug market. The FTSE 100-listed pharmaceuticals giant posted a 25 per cent slump in core operating profit to £1.4bn in the second quarter, while turnover fell 13 [...]
London Report: Tesco share price falls to lowest in 10 years as GSK warns on earnings July 23, 2014 Shares in Tesco yesterday fell to their lowest level in almost a decade after the beleaguered supermarket issued a profit warning earlier this week and announced that chief executive Philip Clarke is stepping down. Tesco’s shares fell 0.49 per cent to 276p yesterday, down 4.6 per cent since Monday when Clarke’s exit was announced and [...]
GlaxoSmithKline share price plunges following a 14pc fall in profits July 23, 2014 No respite for GlaxoSmithKline. Shares in the pharmaceutical giant took a drubbing today, plummeting as much as 6.9 per cent after the drugmaker posted a 14 per cent fall in second quarter profits. Shares recovered slightly, closing down around five per cent. One of its key drugs, Avadir, a treatment for asthma, makes up around [...]
GlaxoSmithKline China: Company admits to bribery scandal in 2001 July 17, 2014 GlaxoSmithKline (GSK) has admitted that members of its staff were caught bribing Chinese officials back in 2001, according to the Financial Times. The new information has emerged as the pharmaceutical giant faces intense scrutiny from authorities in the UK and US regarding the alleged bribing of doctors and officials to boost drug sales to China. [...]
GlaxoSmithKline China bribery claims: British man charged July 14, 2014 A British corporate investigator and his wife have been formally charged by Chinese authorities with illegally obtaining private information, in a case linked to the GlazoSmithKline (GSK) bribery claims. Peter Humphrey and his wife Yu Ying Zeng, an American citizen, were arrested in August 2013 over claims they "illegally trafficked a huge amount of personal information on Chinese [...]
GSK China bribery allegations are “credible”, says investigator July 4, 2014 An investigator hired by GlaxoSmithKline to look into claims of bribery at the company's China operation has said that the allegations are “credible”. Four senior executives at the company have been arrested by police in China. They are accused of bribing influential doctors with cash and expensive gifts so that they would use their [...]
GlaxoSmithKline share price drops after sex tape revealed June 30, 2014 Shares in Britain’s biggest drugmaker GlaxoSmithKline fell yesterday after it confirmed the existence of a sex video recording of its former China head, Mark Reilly. The tape sparked a bribery investigation that has damaged the drugmaker’s business in China. A GSK spokesman confirmed the tape existed but did not comment on how it related to [...]