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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
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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
GSK Live PriceLast checked at -

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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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20 Feb 2024 15:10

PRESS: AJ Bell founder to join Applied Nutrition ahead of IPO - Sky

(Alliance News) - Supplements maker Applied Nutrition, plotting a London stock market float, is to add AJ Bell PLC founder Andy Bell as its chair, Sky News reported on Tuesday.

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20 Feb 2024 08:55

IN BRIEF: Diageo welcomes GSK's CFO as non-executive director

Diageo PLC - London-based brewer and distiller sells more than 200 drinks brands, including Guinness stout, Captain Morgan rum and Johnnie Walker whisky - Appoints GSK PLC's chief financial officer and executive director, Julie Brown, as a non-executive director. Says she will succeed Alan Stewart as chair of the audit committee after his retirement following the firm's annual general meeting in September. Chair Javier Ferran says: "Julie brings many years of experience in financial, commercial and strategic roles in international companies operating in highly regulated industries. She is strongly committed to enabling diversity in business and to creating sustainable, long-term value for stakeholders. I look forward to her contribution to Board discussions and to working with her in progressing Diageo's ambition to be one of the most trusted and respected consumer products companies in the world."

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15 Feb 2024 14:44

UK dividends calendar - next 7 days

Friday 16 February 
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15 Feb 2024 11:02

Berenberg hikes target price on GSK

(Sharecast News) - Analysts at Berenberg hiked their target price on drugmaker GSK from £16.50 to £18.20 on Thursday, stating the group was moving closer to offsetting losses associated with the expiry of its patent on HIV drug dolutegravir.

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15 Feb 2024 09:45

LONDON BROKER RATINGS: Jefferies cuts Kingfisher but Citi raises

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

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15 Feb 2024 08:49

GSK completes USD1.4 billion purchase of respiratory firm Aiolos Bio

(Alliance News) - GSK PLC on Thursday said it has completed the acquisition of Aiolos Bio Ltd, expanding its respiratory portfolio with a potential "best-in-class" asthma treatment.

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13 Feb 2024 16:53

LONDON MARKET CLOSE: Stocks in red amid sticky US inflation data

(Alliance News) - Stock prices in London closed in the red on Tuesday, after a key US inflation reading came in hotter-than-expected.

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13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

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13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

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13 Feb 2024 12:06

LONDON MARKET MIDDAY: Stocks fall but pound up before US data

(Alliance News) - Stock prices in London were on the decline on Tuesday afternoon, with sentiment tetchy ahead of a US inflation report later.

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13 Feb 2024 09:45

Citi ups recommendation on GSK to 'buy'

(Sharecast News) - Citi has upgraded its rating on vaccines and drugs blue chip GSK to 'buy' while also boosting its earnings estimates.

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13 Feb 2024 09:32

LONDON BROKER RATINGS: Citi lifts GSK; Shore likes XPS Pensions

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

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13 Feb 2024 07:45

LONDON BRIEFING: "Record" Tui quarter; Ultimate Products eyes payouts

(Alliance News) - London's FTSE 100 is to open ever-so-slightly lower on Tuesday, with trade set to be nervy ahead of the afternoon's US inflation data.

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12 Feb 2024 17:11

London close: Stocks finish higher after very quiet Monday

(Sharecast News) - London markets managed modest gains by the close of a subdued trading session on Monday, with no significant corporate or economic catalysts driving movements.

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12 Feb 2024 12:04

LONDON MARKET MIDDAY: FTSE 100 underperforms as European peers rise

(Alliance News) - London's FTSE 100 underwhelmed on Monday, with some of its largest constituents pulling it lower, while indices in Europe were on the up on favourable comments on interest rate cuts by a European Central Bank official.

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