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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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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

LONDON BROKER RATINGS: BofA cuts Ashtead; UBS likes 3i Group

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

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10 Jan 2024 08:25

GSK says Nucala gets green light in China for asthma treatment

(Alliance News) - GSK PLC on Wednesday said Nucala has been approved in China for the treatment of severe asthma.

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10 Jan 2024 07:22

GSK's Nucala gets fresh approval in China

(Sharecast News) - GSK announced on Wednesday that the China National Medical Products Administration (NMPA) has granted approval for 'Nucala', or mepolizumab, as an add-on maintenance treatment for severe eosinophilic asthma in adults and adolescents aged 12 years and older.

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9 Jan 2024 16:22

London close: Stocks finish red after choppy session

(Sharecast News) - London stocks had turned back into the red by the close on Tuesday, with recruitment firms and asset managers pacing the declines after some disappointing corporate updates.

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9 Jan 2024 08:03

TOP NEWS: GSK to buy Aiolos Bio for up to USD1.4 billion

(Alliance News) - GSK PLC on Tuesday said it will acquire asthma drug developer Aiolos Bio Inc for USD1 billion upfront, as well as up to USD400 million in certain success-based milestone payments.

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9 Jan 2024 07:16

GSK buys respiratory drug maker Aiolos for $1bn

(Sharecast News) - GSK said it was buying Aiolos, a clinical-stage biopharmaceutical company focused on treatment of respiratory and inflammatory conditions, for up to $1.4bn (£1.1bn).

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8 Jan 2024 23:39

Pfizer to remain aggressive on obesity market after setback

NEW YORK, Jan 8 (Reuters) - Pfizer will remain aggressive in trying to break into the lucrative obesity market, even after dropping a high profile weight-loss drug candidate late last year due to strong side effects, Chief Executive Albert Bourla said on Monday.

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8 Jan 2024 23:00

Pfizer to remain aggressive on obesity market after setback

NEW YORK, Jan 8 (Reuters) - Pfizer will remain aggressive in trying to break into the lucrative obesity market, even after dropping a high profile weight-loss drug candidate late last year due to strong side effects, Chief Executive Albert Bourla said on Monday.

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8 Jan 2024 19:02

Moderna says it hit its 2023 COVID vaccine sales goal

Jan 8 (Reuters) - Moderna on Monday said its 2023 COVID vaccine sales would be around $6.7 billion, coming in above the lower end of its full-year forecast, and reiterated its goal of returning to sales growth in 2025.

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4 Jan 2024 14:01

UK dividends calendar - next 7 days

Friday 5 January 
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