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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,756.00
Bid: 1,753.00
Ask: 1,754.00
Change: -19.00 (-1.07%)
Spread: 1.00 (0.057%)
Open: 1,770.00
High: 1,770.00
Low: 1,740.00
Prev. Close: 1,775.00
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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)

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22 Jan 2024 21:22

Fate of most remaining Zantac lawsuits weighed by Delaware judge

Jan 22 (Reuters) - GSK, Pfizer and other pharmaceutical companies are urging a judge in Delaware this week to find that evidence plaintiffs' lawyers want to use in about 72,000 lawsuits claiming that the discontinued heartburn drug Zantac caused cancer is not supported by science.

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22 Jan 2024 17:08

Fate of most remaining Zantac lawsuits weighed by Delaware judge

Jan 22 (Reuters) - GSK, Pfizer and other pharmaceutical companies will urge a judge in Delaware this week to find that evidence plaintiffs' lawyers want to use in about 72,000 lawsuits claiming that the discontinued heartburn drug Zantac caused cancer is not supported by science.

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22 Jan 2024 09:34

IN BRIEF: Oxford Nanopore appoints Keher to CFO as Cowper becomes COO

Oxford Nanopore Technologies - Oxford, England-based company specialising in nanopore DNA-sequencing - Appoints Nick Keher as chief financial officer and director, effective immediately. Keher will replace Tim Cowper as he moves into a new role as Oxford Nanopore's chief operating officer. The company says that Cowper has been performing the majority of COO duties for the past five years, and that he will lead the company's efforts to expand its international footprint. The company also says that new CFO Keher possesses "significant experience of financial leadership of complex, scientific businesses", having served in similar roles at Clinigen Group PLC, BenevolentAI SA, Royal Bank of Canada, Investec PLC and GSK PLC.

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17 Jan 2024 09:38

UPDATE: GSK raises GBP978 million as cuts stake in Haleon to 4.2%

(Alliance News) - GSK PLC early Wednesday confirmed it agreed to sell 300 million shares in Haleon PLC, reducing its remaining stake in the consumer healthcare products spin-off to just 4.2%.

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17 Jan 2024 08:05

GSK raises £978m through Haleon share sale

(Sharecast News) - GSK said on Wednesday that it has raised around £978m from the sale of shares in Haleon.

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17 Jan 2024 07:46

LONDON BRIEFING: UK inflation surprises as unexpectedly rises to 4.0%

(Alliance News) - Stocks in London are called to open lower on Wednesday, following some hotter-than-expected consumer price data from the UK.

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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.

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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

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10 Jan 2024 08:25

GSK says Nucala gets green light in China for asthma treatment

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