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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 5.00 (0.29%)
Spread: 0.50 (0.029%)
Open: 1,733.00
High: 1,739.50
Low: 1,724.50
Prev. Close: 1,728.50
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CMA fines GlaxoSmithKline £38m for generics delay scam

Fri, 12th Feb 2016 07:39

(ShareCast News) - The UK competition watchdog has fined GlaxoSmithKline for making illegal payments to rivals that delayed the launch of potentially cheaper generic medicine, potentially costing the NHS many millions.GSK has been fined £37.6m by the Competition and Markets Authority, with Merck fined £5.8m and Actavis £1.5m.The CMA said its investigation found that GSK had paid around £50m between 2001 and 2004 to Generics UK (GUK), which was then a part of Merck, and Actavis in order to halt their entry into the UK market for anti-depressant medicine paroxetine.GUK and Actavis, then called Alpharma, were poised to launch generic competition to GSK's branded blockbuster version of paroxetine, Seroxat, which at the time generated revenues of more than £90m.GSK made the payments as it also battled the two companies in the courts, alleging that these generic versions would infringe its patents."These 'pay-for-delay' agreements deferred the competition that the threat of independent generic entry could offer, and potentially deprived the National Health Service of the significant price falls that generally result from generic competition," the CMA said.When generic versions of paroxetine eventually were launched in 2003, average paroxetine prices dropped by over 70% in two years.Michael Grenfell, the CMA's executive director for enforcement, said: "Today's decision sends out a strong message that we will tackle illegal behaviour that is designed to stifle competition at the expense of customers - in this case, the NHS and, ultimately, taxpayers."This investigation shows our determination to take enforcement action against illegal anti-competitive practices in sectors big and small. Cracking down on these practices is essential to protect consumers, to encourage legitimate business activity that such practices stifle, and to stimulate innovation and growth."
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16 Jan 2024 17:04

GSK to sell GBP1 billion worth of Haleon shares as trims stake again

(Alliance News) - GSK PLC on Tuesday said it intends to sell around GBP1.00 billion worth of shares in Haleon PLC, as it continues to reduce its shareholding in the Weybridge, Surrey-based consumer healthcare spin-off.

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16 Jan 2024 09:14

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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16 Jan 2024 08:15

UBS downgrades AstraZeneca to 'sell'

(Sharecast News) - UBS has downgraded AstraZeneca and upgraded rival GSK as part of its latest review of the European pharmaceutical sector.

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16 Jan 2024 07:37

LONDON BRIEFING: UK jobless rate sticks at 4.2% but pay growth slows

(Alliance News) - Stocks in London are called to open lower on Tuesday, following data showing that the UK jobless rate was unchanged at 4.2% as pay growth slowed.

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15 Jan 2024 08:42

Zantac fallout unfairly weighing on GSK, says Shore Capital

(Sharecast News) - Shore Capital has raised its target price and maintained a positive stance on biopharma giant GSK, saying that worries about the potential cost of Zantac litigation are unfairly weighing on the stock.

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10 Jan 2024 09:35

LONDON BROKER RATINGS: BofA cuts Ashtead; UBS likes 3i Group

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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10 Jan 2024 08:25

GSK says Nucala gets green light in China for asthma treatment

(Alliance News) - GSK PLC on Wednesday said Nucala has been approved in China for the treatment of severe asthma.

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10 Jan 2024 07:22

GSK's Nucala gets fresh approval in China

(Sharecast News) - GSK announced on Wednesday that the China National Medical Products Administration (NMPA) has granted approval for 'Nucala', or mepolizumab, as an add-on maintenance treatment for severe eosinophilic asthma in adults and adolescents aged 12 years and older.

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9 Jan 2024 16:22

London close: Stocks finish red after choppy session

(Sharecast News) - London stocks had turned back into the red by the close on Tuesday, with recruitment firms and asset managers pacing the declines after some disappointing corporate updates.

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9 Jan 2024 08:03

TOP NEWS: GSK to buy Aiolos Bio for up to USD1.4 billion

(Alliance News) - GSK PLC on Tuesday said it will acquire asthma drug developer Aiolos Bio Inc for USD1 billion upfront, as well as up to USD400 million in certain success-based milestone payments.

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9 Jan 2024 07:16

GSK buys respiratory drug maker Aiolos for $1bn

(Sharecast News) - GSK said it was buying Aiolos, a clinical-stage biopharmaceutical company focused on treatment of respiratory and inflammatory conditions, for up to $1.4bn (£1.1bn).

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8 Jan 2024 23:39

Pfizer to remain aggressive on obesity market after setback

NEW YORK, Jan 8 (Reuters) - Pfizer will remain aggressive in trying to break into the lucrative obesity market, even after dropping a high profile weight-loss drug candidate late last year due to strong side effects, Chief Executive Albert Bourla said on Monday.

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8 Jan 2024 23:00

Pfizer to remain aggressive on obesity market after setback

NEW YORK, Jan 8 (Reuters) - Pfizer will remain aggressive in trying to break into the lucrative obesity market, even after dropping a high profile weight-loss drug candidate late last year due to strong side effects, Chief Executive Albert Bourla said on Monday.

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8 Jan 2024 19:02

Moderna says it hit its 2023 COVID vaccine sales goal

Jan 8 (Reuters) - Moderna on Monday said its 2023 COVID vaccine sales would be around $6.7 billion, coming in above the lower end of its full-year forecast, and reiterated its goal of returning to sales growth in 2025.

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4 Jan 2024 14:01

UK dividends calendar - next 7 days

Friday 5 January 
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Tuesday 9 January 
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Wednesday 10 January 
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Thursday 11 January 
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