GlaxoSmithKline

GSK announces plan to hike its stake in Indian arm to up to 75%

GSK announces plan to hike its stake in Indian arm to up to 75%

Pharmaceuticals giant GlaxoSmithKline Plc (GSK) has revealed its plan to increase its stake in its Indian subsidiary from 50.7 per cent to up to 75 per cent.

GSK has said in a statement that it has plans to spend around 629 million pounds to hike its stake in GSK Pharmaceutical Ltd through an open offer. David Redfern, head of strategy at GSK, said that the deal would offer a good liquidity opportunity at a striking premium.

Ex-Regulator Said to Testify GlaxoSmithKline Withheld Study

Ex-Regulator Said to Testify GlaxoSmithKline Withheld Study

According to a former U. S. Food and Drug Administration official, a study which showed that GlaxoSmithKline Plc's Avandia diabetes drug can cause heart attack, had been pending and not been submitted to the regulators. Two other persons also authenticated her version. The official had sued Glaxo.

GlaxoSmithKline Shares Fall

GlaxoGlaxoSmithKline Plc. declined in London trading after U.S. regulators warned against use of the company’s best-selling product, the Advair asthma treatment.

The Food and Drug Administration said that the agonists have been linked to increased risk of worsening asthma symptoms, hospitalizations and deaths.

Glaxosmithkline Pharmaceuticals reports net profit of Rs 103.59 crore

Glaxosmithkline Pharmaceuticals reports net profit of Rs 103.59 croreGlaxoSmithKline Pharmaceuticals has recorded profit after tax (PAT) of Rs 103.59 crore in the fourth quarter of the calendar year 2009 as against Rs 208.47 crore in the same period of 2008.

The results are mostly in line with the market expectations. The company performed well in segments like mass market, mass specialty, specialty segments and vaccines.

GlaxoSmithKline Pharmaceuticals Q4 Stand-Alone Net Profit Dips

GlaxoSmithKline Pharmaceuticals Q4 Stand-Alone Net Profit DipsGlaxoSmithKline Pharmaceuticals Ltd., a premier pharmaceutical company in India, reported a fall in its stand-alone net profit form Rs 208.8 crores to Rs 103.6 crores during the fourth-quarter of 2009.

Brazil signs 1.5 billon euro vaccine deal, reports FT

Drug major, GlaxoSmithKline PLC has announced that Brazil would buy 1.5 billion euro of the company's vaccine for a period of at least of 10 years, the Financial Times said on Monday.

As per the agreement, Glaxo, world's second-biggest drugmaker, would provide its pneumococcal vaccine, Synflorix to Brazil.

Synflorix is designed to prevent pneumonia and meningitis.

Glaxo would be getting a starting price of 11.50 euros for the vaccine, and falling to 5 euros in future years.

Mahindra Satyam signs 5-year multi-million dollar deal with GSK

Mahindra Satyam signs 5-year multi-million dollar deal with GSKMahindra Satyam, the new brand identity of Satyam Computer Services Ltd, has informed that it has inked a five-year multi-million dollar pact with UK-based GlaxoSmithKline (GSK).

The company has signed this deal to offer SAP and other critical systems support to GSK's businesses across the globe.

GlaxoSmithkline Q4 net up 18%

GlaxoSmithkline Q4 net up 18%Pharmaceutical major GlaxoSmithkline Consumer Healthcare has posted 18.43% surge in net profit for the fourth three month period ended 31 December.

The firm has recorded a net profit of Rs 32.58 crore for the fourth quarter ended 31 December 2008, as compared to Rs 27.51 crore in the same quarter of the previous fiscal.

GlaxoSmithKline Q3 Net Up 19%

GlaxoSmithKline Pharma has announced that the Net Profit of the company has rose 19.34% to Rs 80.90 crore in the quarter ended December 2007, as against Rs 67.79 crore during the previous quarter ended December 2006.

Company has listed the Sales of Rs 339.23 crore up 8.77 percent in the quarter ended December 2007 as against Rs 311.89 crore during the previous quarter ended December 2006.

Ranbaxy, GSK Settles ‘Imitrex’ Patent Dispute

Ranbaxy Laboratories has settled its patent clash with GlaxoSmithKline (GSK) over the migraine drug, Imitrex.

According to the settlement, Ranbaxy will be capable of distributing generic version of the drugs in three different potencies (25 mg, 50 mg and 100 mg) in the United States from December, 2008.

Ranbaxy claims that Imitrex’s annual market sales stood at $985 million. However, other details of the settlement agreement were not disclosed.

During the six-month period, the drug could bring the company $90-100 million in sales the company analyst said.