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Save the Children, drug company GSK announce new partnership to save children's lives

The Canadian PressMay 11, 2013 05:16
NAIROBI, Kenya - GlaxoSmithKline is giving Save the Children $23 million and entering into a five-year partnership with the charity to try to save the lives of 1 million children. The chief executives of the two groups visited a remote health clinic in Kenya on Thursday where they spoke to a mother who said she had three children die of diarrhea. Justin Forsyth, the head of Save the Children, said the mother told him and GSK chief executive Andrew Witty that she was devastated by the deaths, but was happy that her 5-year-old daughter was getting treatment for pneumonia.

Analysts see possible windfall from GSK spin-offs

April 24, 2013 12:15
LONDON (Reuters) - GlaxoSmithKline shareholders could be in line for a possible windfall after the drugmaker put two drinks brands up for sale and bundled some 50 old drugs into a new unit, analysts said. The widely-expected sale of energy and fruit drinks Lucozade and Ribena could bring in some 1.2 billion pounds($1.8 billion), if the brands sell for twice the value of their annual sales, as some analysts expect.

Drugmaker GSK posts slumping Q1 profits

Agence France-PresseApril 24, 2013 11:46
British drugs firm GlaxoSmithKline on Wednesday said its first-quarter net profit tumbled by almost a third, with the group hit by falling sales and a poor economic climate. GSK, which also has a large consumer healthcare division, confirmed that it planned to sell drinks brands Lucozade and Ribena as part of its European restructuring plans. Profit after tax dived to £961 million ($1.47 billion, 1.12 billion euros) in the first quarter from £1.3 billion in the same part of 2012, the pharmaceuticals firm said in a results statement.

Drugmaker GSK posts slumping Q1 profits

Agence France-PresseApril 24, 2013 09:01
British drugs firm GlaxoSmithKline on Wednesday said its first-quarter net profit tumbled by almost a third, with the group hit by falling sales and a poor economic climate. GSK, which also has a large consumer healthcare division, confirmed that it planned to sell drinks brands Lucozade and Ribena as part of its European restructuring plans. Profit after tax dived to £961 million ($1.47 billion, 1.12 billion euros) in the first quarter from £1.3 billion in the same part of 2012, the pharmaceuticals firm said in a results statement.

GSK puts Lucozade and Ribena drink brands up for sale

April 24, 2013 07:30
By Ben Hirschler LONDON (Reuters) - GlaxoSmithKline is to sell soft drink brands Lucozade and Ribena in a move analysts believe will raise over 1 billion pounds and focus its consumer health business on global products. The plan was announced on Wednesday alongside first-quarter results that saw sales at Britain's biggest drugmaker drop a slightly smaller-than-expected 3 percent from a year ago.

GSK to partner with venture capital firm for drug discovery

April 22, 2013 20:15
(Reuters) - GlaxoSmithKline <GSK.L> said on Monday it will partner with venture capitalists Avalon Ventures in a deal worth up to $495 million (£323.66 million) to fund as many as 10 drug-discovery startup companies over the next three years. GSK will provide financing and technical support to startups established by Avalon Ventures and will have first rights on buying each new company, GSK spokeswoman Melinda Stubbee said.

OFT accuses GSK over "pay-for-delay" drug deals

April 19, 2013 03:00
By Ben Hirschler LONDON (Reuters) - The Office of Fair Trading (OFT) accused GlaxoSmithKline <GSK.L> of market abuse for striking deals with three generic drugmakers that paid them to delay launching cheap copies of its antidepressant Seroxat. GSK, Britain's biggest drugmaker, said it believed it had acted lawfully. If it is found to have broken the law, it could be fined up to 10 percent of its worldwide turnover, which amounted to 26.4 billion pounds in 2012.

GlaxoSmithKline boss says new drugs can be cheaper

March 14, 2013 11:45
By Ben Hirschler LONDON (Reuters) - The pharmaceutical industry should be able to charge less for new drugs in future by passing on efficiencies in research and development to its customers, according to the chief executive of GlaxoSmithKline Plc <GSK.L>. "It's not unrealistic to expect that new innovations ought to be priced at or below, in some cases, the prices that have pre-existed them," Andrew Witty told a conference on healthcare in London.

UPDATE 1-Piper Jaffray says GSK could buy out Theravance

March 4, 2013 16:15
* Net present value of royalties support $51/share price - Piper Jaffray * Theravance shares jump 18 percent (Adds analyst, GSK comments, background; updates share movement) March 4 (Reuters) - Shares of Theravance Inc rose as much as 18 percent after a brokerage said a positive outcome on the approval of its respiratory drugs could lead to a takeover of the drugmaker, which is one-quarter owned by GlaxoSmithKline Plc.

Piper Jaffray says Theravance may be sold, shares jump

March 4, 2013 14:00
March 4 (Reuters) - Shares of Theravance Inc rose 14 percent after a brokerage said a positive outcome for the company's respiratory drug could lead to a takeover of the company, which is one-quarter owned by GlaxoSmithKline Plc . "We believe approval for Anoro by year end could lead to an eventual takeout," Piper Jaffray analysts M Ian Somaiya, Do Kim and Matthew Luchini said in a note to clients.
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