Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,607.50
Bid: 1,607.00
Ask: 1,608.00
Change: -2.50 (-0.16%)
Spread: 1.00 (0.062%)
Open: 1,611.50
High: 1,614.00
Low: 1,602.00
Prev. Close: 1,610.00
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

GlaxoSmithKline sacks some China staff for malpractice-source

Fri, 04th Apr 2014 11:41

LONDON, April 4 (Reuters) - GlaxoSmithKline, facingallegations of bribery in China, has dismissed some employees inthe country over failure to comply with expenses rules, a personfamiliar with the situation said on Friday.

Britain's biggest drugmaker declined to detail the move butconfirmed it had stepped up monitoring of expenses claims,resulting in action being taken against some employees.

The closer staff surveillance in China follows accusationsby Chinese authorities in July that GSK funnelled up to 3billion yuan ($483 million) in expenses to doctors and officialsto encourage them to use its medicines.

"We routinely monitor and check expenses claims to ensurethey adhere to our policies. Since the start of theinvestigation by the authorities, we have increased thismonitoring in China," a company spokesman said.

"Where we have found potential issues, we are thoroughlyreviewing them and have withheld incentive payments whereappropriate."

The company declined to specify the number of staffinvolved in the crackdown but the source familiar with thematter said it was a very small proportion of the company'stotal workforce in the country of around 7,000.

GSK has previously said some of its senior Chineseexecutives appeared to have broken the law. It has also said ithas zero tolerance for bribery, calling the allegations in China"shameful".

The corruption claims have taken a toll on GSK's business inChina which, through small, had been growing fast.

Before the scandal, GSK's China sales had risen 14 percentyear-on-year in the three months to end-June, but revenue in thecountry plunged 61 percent in the third quarter and 29 percentin the final quarter of 2013.

($1 = 6.2107 Chinese Yuan) (Reporting by Ben Hirschler; Editing by David Holmes)

More News
17 Jan 2024 07:31

GSK raises $1.24 bln from latest Haleon stake sale

Jan 17 (Reuters) - GSK has raised 978 million pounds ($1.24 billion) from a discounted sale of a stake in its spun-off consumer healthcare business Haleon, the British drugmaker said on Wednesday.

Read more
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.

Read more
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:

Read more
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.

Read more
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.

Read more
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.

Read more
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:

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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).

Read more
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.

Read more
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.

Read more
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.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.