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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,640.50
Bid: 1,640.00
Ask: 1,640.50
Change: 4.50 (0.28%)
Spread: 0.50 (0.03%)
Open: 1,642.00
High: 1,656.00
Low: 1,635.00
Prev. Close: 1,636.00
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GSK bets $300m on tie-up with gene-tester 23andMe

Wed, 25th Jul 2018 11:06

(Sharecast News) - GlaxoSmithKline has invested $300m (£228m) in 23andMe, a Silicon Valley gene-testing company, as the UK drugs giant looks to genetics to improve growth in its pharmaceuticals division. Announcing second-quarter results, GSK said the deal would give it exclusive access to 23andMe's DNA database as a resource for finding new treatments.GSK said the deal was an important part of its new approach to research focused on the biology of the immune system and genetic evidence.The four-year agreement will combine 23andMe's genetic database with GSK's medical experience and commercial heft.23andMe has more than 5m customers, more than 80% of which have agreed to allow their data to be used for research.The Google-backed US company is known for test kits that let users find out about their genetic roots with a sample of saliva. But it also has a research and development division that has come up with early stage therapies.The companies will combine existing projects and form a joint drug discovery team to identify target diseases based on the strength of biological evidence.Hal Barron, who joined GSK as chief scientist in January, said: "Drug targets with genetic validation have a significantly higher chance of ultimately demonstrating benefit for patients and becoming medicines. Partnering with 23andMe...will help to shift our research and development organisation to be 'driven by genetics', and increase the impact GSK can have on patients."Project costs will be split equally with room for both sides to reduce its share for a particular programme. GSK has taken a $300m equity stake in 23andMe.As far as the results are concerned, GSK said group sales in the second quarter rose 4% excluding currency swings to £7.3bn. Pharmaceutical sales were the weakest of GSK's three divisions, rising 1% to £4.2bn compared with 16% from vaccines and 3% from healthcare at constant currency. GSK announced a plan to spend £1.7bn over thee years to save £400m a year in supply chain and administration costsEmma Walmsley, GSK's chief executive, said: "GSK has delivered encouraging results across the company this quarter with CER (constant exchange rate) sales growth in each of our three global businesses. We have announced the start of a new approach to R&D which aims to capitalise on the assets we have in our promising early-stage pipeline and build the next wave of growth for GSK."The company increased its target for adjusted earnings growth to 7-10% if no generic competitor for its Advair product hits the US market in 2018.
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GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology

April 25 (Reuters) - GlaxoSmithKline sued Pfizer and BioNTech in Delaware federal court on Thursday, accusing them of infringing GSK patents related to messenger RNA (mRNA) technology in the companies' blockbuster COVID-19 vaccines.

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24 Apr 2024 14:19

UK earnings, trading statements calendar - next 7 days

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Pinewood Technologies Group PLCFull Year Results
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Gresham Technologies PLCFull Year Results
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Card Factory PLCFull Year Results
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Close Brothers Group PLCTrading Statement
Coca-Cola HBC AGTrading Statement
Elementis PLCTrading Statement
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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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24 Apr 2024 09:21

GSK's endometrial cancer drug receives FDA approval

(Sharecast News) - Drugmaker GSK said on Wednesday that the US Food and Drug Administration has accepted a supplemental Biologics License Application for Jemperli, its drug aimed at treating endometrial cancer.

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24 Apr 2024 09:14

GSK's Jemperli with chemotherapy accepted for priority review by FDA

(Alliance News) - GSK PLC on Wednesday said that the US Food & Drug Administration has accepted a supplemental biologics licence application for Jemperli, when used in combination with chemotherapy.

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TOP NEWS: GSK hails data on Shingles vaccine and gonorrhoea treatment

(Alliance News) - GSK PLC on Wednesday reported new test data for its shingles vaccine and for a potential new oral treatment for a form of gonorrhoea.

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GSK posts promising results from gonorrhoea treatment trial

(Sharecast News) - GSK unveiled encouraging outcomes from a pivotal phase three trial on Wednesday, on the potential of gepotidacin as an oral treatment for uncomplicated urogenital gonorrhoea (GC), amid escalating resistance to current therapies.

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16 Apr 2024 09:17

GSK meningococcal vaccine accepted by US FDA for review

(Sharecast News) - GSK announced on Tuesday that its five-in-one meningococcal ABCWY (MenABCWY) vaccine candidate had been accepted for regulatory review by the US Food and Drug Administration (FDA).

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16 Apr 2024 08:59

GSK's latest meningitis vaccine accepted for review by US regulator

(Alliance News) - GSK PLC on Tuesday said it has made progress in the development of its newest candidate, which combines the strengths of two other vaccines in its portfolio into one bacteria-fighting inoculation.

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11 Apr 2024 18:51

AstraZeneca CEO could earn 19 million pounds as pay measure clears opposition

Policy approved with two-third of votes in favour

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Pfizer RSV shot meets goals in trial of high-risk adults under age 60

April 9 (Reuters) - Pfizer said on Tuesday its respiratory syncytial virus (RSV) vaccine Abrysvo was well tolerated and generated an immune response in higher risk adults under the age of 60 similar to that in older adults, for whom the shot is already approved.

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8 Apr 2024 09:13

LONDON BROKER RATINGS: Wizz Air raised; HSBC cuts Rentokil to 'hold'

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

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4 Apr 2024 13:08

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Hays PLCdividend payment date
Renishaw PLCdividend payment date
Safestore Holdings PLCdividend payment date
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A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Sanofi to settle 4,000 Zantac cancer lawsuits in US state courts

NEW YORK, April 3 (Reuters) - Sanofi has reached an agreement in principle to settle 4,000 U.S. lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday.

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Biden, Senator Bernie Sanders push companies to cut cost of asthma inhalers, prescription drugs

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What to know about bird flu in dairy cows and the risk to humans

CHICAGO, April 3 (Reuters) - Texas officials reported on Monday that a farm worker tested positive for H5N1, or bird flu, that has spread to dairy cows in Texas, Kansas, New Mexico, Michigan and Idaho - the first time the virus has infected cattle.

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