Glaxosmithkline Share News (GSK)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Next, up 4.2%. The clothing and homewares retailer reported a well-flagged fall in profit for its recently-ended financial year but looked ahead to a better backdrop for the year ahead. Retail full price sales declined by 7.0% during the year ended January 27, and Online full price sales increased by 11%. Total group sales were broadly flat on the year before, edging down 0.5% to GBP4.12 billion from GBP4.14 billion. Looking ahead to the current financial year, Next said the pricing environment is "much more benign". During the year, Next invested GBP161.0 million on new stores, warehousing and systems. "While the Retail business is clearly under pressure, it's hard not to be impressed by the work Next has done improving the Online division. Extra marketing has paid dividends, and customer numbers in the lucrative credit business are stabilising. Looking ahead, Next is confident 2018 won't be a repeat of 2017, a clear positive for shareholders," said Hargreaves Lansdown analyst George Salmon. GlaxoSmithKline, up 3.2%. The pharmaceutical company said it has withdrawn from the process relating to buying Pfizer's Consumer Healthcare business. "While we will continue to review opportunities that may accelerate our strategy, they must meet our criteria for returns and not compromise our priorities for capital allocation," said Chief Executive Emma Walmsley. On Thursday, household goods firm Reckitt Benckiser confirmed it also had ended talks with the US drugmaker over a takeover of the unit. The Financial Times had reported on Thursday that Glaxo was in "pole position" to snap up Pfizer's Consumer Healthcare business. Earlier on Friday, Glaxo said its Shingrix treatment has been approved in Europe and Japan for the prevention of shingles in adults aged 50 and over. Shingrix is a non-live, recombinant subunit adjuvanted vaccine given intramuscularly in two doses.----------FTSE 100 - LOSERS----------Smiths Group, down 11%. The engineer reported a steep drop in in revenue and profit for the first half of its 2018 financial year. Smiths, which has oil services, medical devices and detection systems units, reported pretax profit of GBP199.0 million for the six months to January 31, down sharply from GBP346.0 million in 2016. Revenue was down 4.0% to GBP1.50 billion from GBP1.60 billion. First half adjusted pretax profit totaled GBP217 million, down from GBP248 million. The drop in profit and revenue was attributed to higher research and development costs, negative foreign exchange rate movements, sale of four non-core businesses and the acquisition of Morpho Detection in the second half of 2017 financial year. "Matters are made worse by the outlook statement suggesting foreign exchange headwinds are set to remain. This takes the shine off management's reiteration of 2018 guidance thanks to a strong order book, new product launches and confidence in group growth acceleration in the second half," said Mike Van Dulken, head of research at Accendo Markets. ----------FTSE 250 - LOSERS----------Indivior, down 6.6%, The drugmaker said it intends to appeal against an unfavourable US court ruling relating to the company's patent claims for its opioid addiction treatment Suboxone. The US District Court for the District of Delaware has found that pharmaceutical company Alvogen does not infringe the asserted claims of US Patent Numbers. 8,017,150, 8,603,514 or 8,900,497, which relates to Suboxone Film. Alvogen did not challenge the validity of any of those asserted claims. Suboxone is a film used to treat prescription painkiller and heroin addiction. Indivior said unless the court's ruling is reversed on appeal, and in the absence of other judicial relief, the company will not be able to prevent Alvogen from manufacturing and marketing a generic alternative to Suboxone Film in the US. Suboxone generates 80% of Indivior's annual revenue.----------MAIN MARKET AND AIM - WINNERS----------Mitie Group, up 5.5%. Barclays double upgraded the facilities management and outsourcing firm to Overweight from Underweight. ----------MAIN MARKET AND AIM - LOSERS----------Sprue Aegis, down 30%. The home safety products developer's shares lost over a quarter of their value after it said smoke alarms firm BRK Brands has terminated the agreement between two on the grounds of Sprue Aegis being in breach of provisions of the agreement. According to Sprue Aegis, BRK Brands said that the breach severely damages the company, and as it is not curable, it would terminate the agreement and not purchase any stocks of unsold products. In April 2010, Sprue Aegis entered an agreement to exclusively distribute the products of BRK Brands Europe, which was extended for a further three years in April 2015. Sprue Aegis had received a 12 months written notice at the end of March 2017 to terminate the agreement, as well as its obligation to pay the annual distribution fee of GBP2.9 million. The company is currently assessing the value of the stocks of unsold products, and is seeking legal advice concerning the termination notice and the allegations made by BRK. As a result, Sprue Aegis said it will not be publishing its results for 2017 in late March. ----------