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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,728.50
Bid: 1,727.00
Ask: 1,728.00
Change: 23.50 (1.38%)
Spread: 1.00 (0.058%)
Open: 1,705.00
High: 1,729.50
Low: 1,695.50
Prev. Close: 1,705.00
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GSK beats Q3 earnings expectations despite missing on revenues

Wed, 23rd Oct 2013 12:28

- Earnings ahead, revenues down- Strong cost control boosts results- GSK benefits on sale of Lucozade and RibenaGlaxoSmithKline beat earnings growth expectations in the third quarter by cutting back office and drug research and development costs were amplified by a lower tax rate. With turnover up 1% to £6.51bn during the three months to September 30th, the FTSE 100 drug developer lifted core operating profits 11% to £2.06bn at constant exchange rates (CER) and earnings per share (EPS) 16% to 28.9p at CER.Broker Jefferies pointed out that the core EPS of 28.9p beat consensus of 27.0p by 7%, after revenues were 2% below expectations.In Pharmaceuticals and Vaccines a worse-than-expected sales decline of 61% in China, as the company is investigated by authorities over alleged bribery, led to a 9% fall across its Emerging Markets Asia Pacific (EMAP) segment, which dragged on good growth in Europe, US and Japan.Overall, Pharmaceuticals were down 1% to £4.2bn and vaccines up 3% to £0.99bn. The consumer healthcare division rose 4% to £1.3bn thanks to good growth in oral care and nutrition.Chief Executive Officer Andrew Witty said the stronger increase in core profit, which excludes exceptional and acquisition related figures, was driven by continued strong cost control, including a reduction in R&D expenditure and a continuing effort to reduce certain operating expenses, and a lower-than-expected core tax rate of 23.5%. The top line also benefitted as GSK sold off its Lucozade and Ribena to Japanese drinks maker Suntory for £1.35bn during the quarter. Witty said Chinese operations continued to be disrupted by the investigation and that it was "still too early for us to quantify the longer-term impact of the investigation on our performance in China". Excluding the decline in China sales, he noted the EMAP pharma business grew 5%.Despite wholesaler and retailer de-stocking in the quarter, as well as ongoing and intensifying price competition, Witty is optimistic about growth from the US Pharmaceuticals and Vaccines business thanks to GSK's strong flow of new products and commercial changes. The group reaffirmed its 2013 revenue guidance for core EPS growth of 3-4% on sales growth of around 1%.Shares in GSK were down 0.4% to 1,594.5p at 13:46 on Wednesday. OH
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21 Nov 2023 11:52

GSK to begin phase 3 trials of low-carbon Ventolin inhaler in 2024

(Alliance News) - GSK PLC on Tuesday said it will begin phase 3 trials of a low carbon version of its metered dose inhaler Ventolin using a "next generation" propellant in 2024.

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14 Nov 2023 17:04

LONDON MARKET CLOSE: FTSE 100 underwhelms as stocks jump after US CPI

(Alliance News) - European equities jumped in the wake of a cooler-than-expected US inflation reading, which took some sting out of a recent hawkish reassessment of the Federal Reserve interest rate outlook.

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13 Nov 2023 09:47

GSK hails momelotinib opinion from European Medicines Agency committee

(Alliance News) - GSK PLC on Monday announced that a European Medicines Agency panel has given a positive opinion recommending momelotinib to treat myelofibrosis patients with anaemia.

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9 Nov 2023 15:50

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8 Nov 2023 09:30

LONDON BROKER RATINGS: UBS downbeat on AJ Bell and Hargreaves Lansdown

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

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2 Nov 2023 10:14

LONDON BROKER RATINGS: Bank of America starts Unite Group with 'buy'

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

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1 Nov 2023 16:52

LONDON MARKET CLOSE: Stocks prosper ahead of central bank rate calls

(Alliance News) - Stocks in London took their lead from a positive start on Wall Street to close higher as investors prepare for interest rate decisions in the UK and US.

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1 Nov 2023 16:35

London close: Stocks rise ahead of US Fed policy decision

(Sharecast News) - London's stock market finished in positive territory on Wednesday, with investors keeping a keen eye on the upcoming policy announcement from the US Federal Reserve.

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1 Nov 2023 08:51

TOP NEWS: GSK ups guidance as boosted by Shingrix and Arexvy

(Alliance News) - GSK PLC on Wednesday hailed the performance of the world's first approved respiratory syncytial virus vaccine Arexvy, as it reported a rise in profit and revenue.

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1 Nov 2023 08:50

LONDON MARKET OPEN: FTSE 100 up, FTSE 250 down as Aston Martin tumbles

(Alliance News) - Stock prices in London opened mixed on Wednesday, ahead of key central bank decisions, as investors were cheered by some strong updates from large-cap listings.

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1 Nov 2023 07:40

LONDON BRIEFING: GSK raises annual guidance following Arexvy launch

(Alliance News) - Stocks in London are called higher on Wednesday, with the main focal point for the day being the upcoming US interest rate decision.

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1 Nov 2023 07:27

GSK hikes guidance after strong third quarter

(Sharecast News) - GSK announced a robust third quarter on Wednesday, prompting an upgrade to its full-year guidance.

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30 Oct 2023 09:01

IN BRIEF: GSK says Jemperli meets endpoint in endometrial cancer trial

GSK PLC - Brentford, west London-based pharmaceutical maker - Jemperli, whose generic name is dostarlimab, meets endpoint of overall survival in phase III Ruby trial on adult patients with primary advanced or recurrent endometrial cancer. Jemperli, combined with standard-of-care chemotherapy, followed by dostarlimab, demonstrated a "statistically significant and clinically meaningful benefit" to the patients in the trial.

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30 Oct 2023 07:06

GSK's Jemperli sees success in endometrial cancer trial

(Sharecast News) - GSK reported encouraging outcomes from part one of the 'RUBY' phase three trial evaluating the efficacy of 'Jemperli', or dostarlimab, with standard chemotherapy for treating adult patients with advanced or recurrent endometrial cancer on Monday.

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26 Oct 2023 09:19

TOP NEWS: GSK subsidiary ViiV receives HIV drug approval in China

(Alliance News) - GSK PLC on Thursday said its subsidiary ViiV Healthcare has received marketing authorisation in China for its cabotegravir treatment, marketed as Vocabria.

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