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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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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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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

UK dividends calendar - next 7 days

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2 Nov 2023 10:14

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

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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

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GSK's Jemperli sees success in endometrial cancer trial

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