Roundtable Discussion; The Future of Mineral Sands. Watch the video 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: 1,728.50
Bid: 1,727.00
Ask: 1,728.00
Change: 0.00 (0.00%)
Spread: 1.00 (0.058%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 1,728.50
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 3-China widens drug industry probe, visits Belgium's UCB

Fri, 19th Jul 2013 08:51

* UCB's Shanghai office visited by anti-trust body SAIC

* UCB says it one of several pharma companies inspected

* Follows accusations of large-scale bribery by GSK

* China taking tough line on several industry sectors

By Ben Deighton and Ben Hirschler

BRUSSELS/LONDON, July 19 (Reuters) - Belgian drugmaker UCB has been visited by Chinese authorities as the countrywidens investigations into bribery by drugmakers, followingallegations against Britain's GlaxoSmithKline.

A spokesman for UCB said on Thursday that officials werealso investigating other drug companies with operations in thecountry, although he did not identify them.

A number of international firms - including Novartis, Roche, Johnson & Johnson andAstraZeneca - denied any knowledge of being investigatedfollowing the UCB news.

Chinese police have accused GSK of bribing officials anddoctors to boost sales and raise the price of its medicines,marking a hardening stance against malpractice by multinationalsoperating in the country.

"They've been launching inspections with several pharmacompanies active in the country, both Chinese and foreigncompanies such as ours, and as part of the process our Shanghaioffice was visited by the agency in the last 48 hours," the UCBspokesman said.

UCB is a medium-sized pharmaceuticals company with aparticular strength in epilepsy treatment.

The officials visiting the group's office were from theState Administration for Industry and Commerce (SAIC) and wereseeking information on compliance, he said.

The SAIC is one of China's main three anti-trust regulatorsin charge of market supervision.

Its investigations often overlap with the country's topwatchdog, the National Development and Reform Commission, whichhas recently launched a pricing investigation into local andinternational drugmakers, including GSK, Merck andAstellas Pharma.

China on Monday accused GSK of transferring up to 3 billionyuan ($489 million) to 700 travel agencies and consultancies tofacilitate bribes - an allegation Britain's top drugmaker saidit was deeply concerned about and which it called "shameful".

The official Xinhua news agency said on Thursday thatauthorities in Shanghai had suspended the business of theShanghai Linjiang International Travel Agency, one of thebusinesses linked to GSK.

The tough Chinese action against GSK, including thedetention of four senior Chinese executives and a ban on a topBritish executive leaving the country, has sent a chill throughthe wider pharmaceutical sector.

There has been widespread speculation that othermultinational companies would be drawn into the corruptioninvestigations.

"This is bigger. This is not just GSK. The entire industryis on a journey here," one European drug industry executivesaid.

CORPORATES UNDER FIRE

The GSK investigation is the highest-profile corporate probein China since four executives from mining giant Rio Tinto were jailed in March 2010 for taking bribes andstealing commercial secrets. Three of those executives wereChinese while the fourth was a Chinese-born Australian.

Beijing has targeted corporations on multiple fronts in thepast few months, including over alleged price-fixing, qualitycontrols and consumer rights.

European food groups Nestle and Danone said they would cut infant milk formula prices in China afterBeijing launched an inquiry into the industry.

And on Friday the official People's Daily newspaper reportedthe Chow Tai Fook Jewellery Group, the world's biggestjewellery retailer by market value, was among a number of goldshops being probed for price fixing.

Past improper payouts in China have also landed otherWestern drugmakers in trouble - although with U.S. rather thanChinese authorities.

In the last year Pfizer and Eli Lilly haveboth settled with Washington, without admitting wrongdoing, overalleged corrupt payments in foreign markets, including China. More cases under the U.S. Foreign Corrupt Practices Act arepending.

China is increasingly important for big drugmakers, whichrely on growth in emerging markets to offset slower sales inWestern markets. IMS Health, which tracks pharmaceuticalindustry trends, expects China to overtake Japan as the world'ssecond-biggest drugs market behind the United States by 2016.

More News
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.

Read more
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:

Read more
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.

Read more
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.

Read more
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.

Read more
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:

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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).

Read more
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.

Read more
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.

Read more
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.

Read more
4 Jan 2024 14:01

UK dividends calendar - next 7 days

Friday 5 January 
British Land Co PLCdividend payment date
Hill & Smith PLCdividend payment date
JD Sports Fashion PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
Liontrust Asset Management PLCdividend payment date
Lok'n Store Group PLCdividend payment date
Real Estate Credit Investments Ltddividend payment date
RS Group PLCdividend payment date
Tate & Lyle PLCdividend payment date
Monday 8 January 
abrdn Equity Income Trust PLCdividend payment date
Intermediate Capital Group PLCdividend payment date
Tuesday 9 January 
no events scheduled 
Wednesday 10 January 
Assura PLCdividend payment date
Bellway PLCdividend payment date
Fidelity Special Values PLCdividend payment date
LXi REIT PLCdividend payment date
Severn Trent PLCdividend payment date
Volex PLCdividend payment date
Vp PLCdividend payment date
Thursday 11 January 
AJ Bell PLCex-dividend payment date
Ashtead Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
CMC Markets PLCdividend payment date
dotdigital Group PLCex-dividend payment date
Ecora Resources PLCex-dividend payment date
European Assets Trust PLCex-dividend payment date
Foresight Group Holdings Ltdex-dividend payment date
GSK PLCdividend payment date
ICG-Longbow Senior Secured UK Property Debt Investments Ltdex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
Keystone Positive Change Investment Trust PLCex-dividend payment date
LondonMetric Property PLCdividend payment date
Murray International Trust PLCex-dividend payment date
National Grid PLCdividend payment date
Primary Health Properties PLCex-dividend payment date
Sage Group PLCex-dividend payment date
Smiths News PLCex-dividend payment date
SSE PLCex-dividend payment date
Supermarket Income REIT PLCex-dividend payment date
TR Property Investment Trust PLCdividend payment date
Walker Crips Group PLCex-dividend payment date
WH Smith PLCex-dividend payment date
Worldwide Healthcare Trust PLCdividend payment date
XPS Pensions Group PLCex-dividend payment date
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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.