The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 0.00 (0.00%)
Spread: 0.50 (0.029%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 1,733.50
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Drugmakers may need indemnity for fast-tracked Ebola vaccines

Thu, 23rd Oct 2014 10:04

* Governments or multilateral agencies may offer indemnity

* Topic expected to be discussed at Geneva vaccines meeting

* Companies say issue won't delay accelerated vaccine work (Edits)

By Ben Hirschler and Stephanie Nebehay

LONDON/GENEVA, Oct 23 (Reuters) - Drugmakers are looking forsome kind of indemnity from governments or multilateral agenciesagainst possible losses or claims arising from the widespreademergency use of new Ebola vaccines in Africa.

While the issue will not delay the industry's ongoing workto accelerate production and clinical testing of threeexperimental vaccines, it is likely to be discussed at ahigh-level meeting in Geneva on Thursday.

World Health Organization (WHO) Director-General MargaretChan will chair the meeting, which includes industry executives,representatives from countries including those affected byEbola, drug regulators and funders.

GlaxoSmithKline Chief Executive Andrew Witty said asystem of indemnity made sense given the unique situation inwhich companies are being urged by the WHO to fast-track thesupply of novel vaccines in a matter of months rather thanyears.

There is currently no proven vaccine against Ebola and drugcompanies have been wary in the past of investing in the area,since the commercial opportunity is small. Potential losses orclaims arising from the use of new vaccines would represent anadditional hurdle.

Witty said indemnity was not a concern for the early phaseof testing, when thousands of doses are expected to be given tofrontline healthcare workers as part of a clinical trialprogramme in January, but it would be needed when vaccines wererushed into much more widespread use.

"I think it is reasonable that there should be some level ofindemnification because the vaccine is essentially being used inan emergency situation before we've all had the chance toconfirm its absolute profile," he told BBC radio.

"That's a situation where we would look for some kind ofindemnification, either from governments or from multilateralagencies."

Brian Greenwood, a professor of clinical tropical medicineat the London School of Hygiene and Tropical Medicine, agreesthat drug companies should not have to shoulder all the risk.

"There would have to be some sort of guarantee," he toldReuters.

Leading drugmakers say they are ready to work together tospeed up the development and production of Ebola vaccines, andthe meeting in Geneva is set to discuss ways to streamline theprocess and ensure there are adequate financial resources.

"WHO is organising this meeting to discuss how to accessvaccines when they are proven safe and how to finance them," aspokesman for the United Nations agency said.

Europe is also expected to announce 200 million euros ($250million) of funding to develop new Ebola vaccines, as well asdrugs and diagnostic tests, sources said on Wednesday.

GSK currently has the most advanced vaccine, the first dosesof which are expected to be ready for use late this year, whileclinical trials on a second vaccine from NewLink Genetics have just started and Johnson & Johnson willcommence testing a third one in January.

"This is an unprecedented pace of development. We areliterally doing in maybe five or six months what would normallytake five or six years," Witty said. "I've already ordered fiveproduction lines to allow us to expand production." (Additional reporting by Kate Kelland; Editing by Giles Elgood)

More News
2 May 2024 19:57

GSK knew about Zantac cancer risk, attorneys tell jury in first trial

May 2 (Reuters) - U.S. attorneys for a woman who claims her colon cancer was caused by the now discontinued heartburn drug Zantac on Thursday told a jury in Chicago that pharmaceutical companies GSK and Boehringer Ingelheim knew the product could cause cancer if it was not handled properly but failed to warn the public.

Read more
2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

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

Read more
1 May 2024 19:39

Bird flu testing shows more dairy products are safe, US FDA says

CHICAGO, May 1 (Reuters) - Preliminary results of tests on additional dairy products show that pasteurization inactivates the bird flu virus, the U.S. Food and Drug Administration said on Wednesday.

Read more
1 May 2024 17:31

UK's FTSE 100 slips ahead of Fed outcome, energy stocks weigh

FTSE 100 down 0.3%, FTSE 250 off 0.2%

*

Read more
1 May 2024 16:56

LONDON MARKET CLOSE: FTSE 100 down ahead of US interest rate decision

(Alliance News) - Stock prices in London closed mostly in the red on Wednesday, as investors eye the latest interest rate decision from the US Federal Reserve this evening.

Read more
1 May 2024 16:42

London close: Stocks fall ahead of US Fed decision

(Sharecast News) - London markets closed lower on Wednesday, as investors digested the latest UK manufacturing data and anticipated an impending policy announcement from the US Federal Reserve.

Read more
1 May 2024 11:55

LONDON MARKET MIDDAY: FTSE 100 treads water as Fed takes centre-stage

(Alliance News) - London's FTSE 100 traded off session highs heading into Wednesday afternoon, as some pre-Federal Reserve decision nerves kicked in.

Read more
1 May 2024 10:54

GSK raises profit outlook on strong vaccine, HIV drug sales

FY profit forecast raised to 8-10%

*

Read more
1 May 2024 08:57

LONDON MARKET OPEN: FTSE 100 shakes off New York slump before Fed

(Alliance News) - Stock prices in London opened mixed on Wednesday, with the FTSE 100 brushing off some pre-Federal Reserve decision trepidation to record an early rise, while the dollar climbed on the expectation that Jerome Powell will sound hawkish in his press conference later.

Read more
1 May 2024 08:50

TOP NEWS: GSK expects momentum to continue after strong first quarter

(Alliance News) - GSK PLC on Wednesday raised its annual earnings forecast, and said it expects sales growth at the top-end of guidance, after a "strong" start to the year.

Read more
1 May 2024 07:46

LONDON BRIEFING: GSK ups outlook; Next first-quarter beats forecast

(Alliance News) - Equities in London are called to open flat on Wednesday, ahead of the latest Federal Reserve interest rate decision, while a host of financial markets in mainland Europe and beyond are closed for public holidays.

Read more
1 May 2024 07:36

GSK lifts annual guidance on strong virus treatment sales

(Sharecast News) - UK pharmaceutical giant GSK lifted annual profits guidance on Wednesday, as it pinned its hopes on demand for its respiratory virus and shingles treatments.

Read more
30 Apr 2024 23:46

First trial over Zantac cancer claims set to begin in Chicago

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Read more
30 Apr 2024 22:39

First trial over Zantac cancer claims set to begin in Chicago

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Read more
30 Apr 2024 13:51

Sensodyne maker Haleon to shut UK factory with loss of 435 jobs

(Alliance News) - More than 400 jobs are to be axed at Sensodyne toothpaste and Advil painkillers firm Haleon PLC as the group revealed plans to shut its only manufacturing site in the UK.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.