(Alliance News) - GlaxoSmithKline PLC on Thursday said a European health watchdog has begun a review of the VIR-7831 antibody as a potential early treatment for Covid-19.
GSK is developing the antibody alongside Vir Biotechnology Inc. It is aimed at those with Covid-19, who do not yet need a ventilator but are at a risk of serious illness.
The review is being carried out by the European Medicines Agency's Committee for Human Medicinal Products.
GSK shares closed 5.0% higher at 1,353.80 pence each in London on Thursday.
Activist investor Elliot Management has taken a multi-billion-pound stake in pharmaceutical giant, the Financial Times reported on Thursday.
The FT said Elliot's stake was confirmed by people with knowledge of the investment and is a "significant" position, according to one of them.
The newspaper reported that Elliot's investment comes as GSK shareholders have become disillusioned with the leadership of Chief Executive Emma Walmsley.
By Eric Cunha; ericcunha@alliancenews.com
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Glaxosmithkline (GSK)