Andrada Mining acquisition elevates the miner to emerging mid-tier status. 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: 1,529.50
Bid: 1,531.50
Ask: 1,532.00
Change: 3.50 (0.23%)
Spread: 0.50 (0.033%)
Open: 1,537.00
High: 1,541.50
Low: 1,523.00
Prev. Close: 1,526.00
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-U.S. citizen detained as China pharma probe spreads

Tue, 23rd Jul 2013 22:39

* U.S. citizen held amid widening China pharma probe

* Two more Chinese staff at AstraZeneca questioned

* 39 hospital staff to be punished for taking bribes-Xinhua

* Industry under scrutiny after bribery charges against GSK

* GSK reports second-quarter results at 1100 GMT

By Michael Martina

BEIJING, July 23 (Reuters) - A U.S. citizen has beendetained in China in connection with probes sparked by anunfolding corruption scandal in the drugs industry, as Chinawidens the range of international firms and staff under thespotlight.

Police have also questioned two more Chinese employees fromBritish drugmaker AstraZeneca in Shanghai, after a localsales representative was taken away for questioning earlier.

And China's Health Ministry said 39 hospital staff would bepunished for taking bribes from two drug companies. The firmsinvolved were not identified.

The unnamed American is the first U.S. citizen to bedetained in connection with the investigations, and the secondforeign national, after a British risk consultant linked withGlaxoSmithKline was held last week.

GSK, Britain's biggest drugmaker, has been accused by Chinaof funnelling up to 3 billion yuan ($489 million) to travelagencies to facilitate bribes to doctors and officials.

"We are aware that a U.S. citizen has been detained inShanghai. We are in contact with the individual and areproviding all appropriate consular assistance," U.S. embassyspokesman Nolan Barkhouse said on Tuesday, when asked about theinvolvement of U.S. citizens in the widening probe.

He declined to say which company the individual wasassociated with.

The latest moves by Chinese officials underline thecountry's tough stance on corruption and high prices in thepharmaceutical industry, as it unrolls wider healthcare accessand faces an estimated $1 trillion healthcare bill by 2020.

"Momentum is gathering and if you are a big internationalfirm, then you're a good example to be held up. This is awake-up call for the rest of the industry," said Jeremy Gordon,director of China Business Services, a risk management companyfocusing on China.

GSK Chief Executive Andrew Witty will detail what action thedrugmaker is taking in response to the bribery allegations whenhe presents quarterly results on Wednesday, sources familiarwith the matter have said. The results are due at 1100 GMT.

The company has called the bribery accusations "shameful"and on Monday said some of its Chinese executives appeared tohave broken the law.

AstraZeneca said the Shanghai Public Security Bureau hadasked on Tuesday to speak with two line managers linked to thesales representative questioned earlier.

"The Public Security Bureau is describing this as anindividual case. We have no reason to believe it is related toother investigations," the company said in a statement.

DOCTORS DISMISSED

Meanwhile, Chinese doctors and officials who are takingbribes are feeling the wrath of the authorities.

The official Xinhua news agency, citing a statement from theHealth Ministry on Tuesday, said 39 employees at a hospital insouthern Guangdong Province would be punished for taking illegalkickbacks, totalling 2.82 million yuan ($460,367), from twodrugmakers between January 2010 and December 2012.

"The vice chairman of the hospital's trade union and twopeople in charge of the two pharmaceutical companies involvedhave had their cases transferred to judicial organs, while ninedoctors who directly received kickbacks were dismissed,suspended or had their licences revoked," the report said.

Shanghai police detained British man Peter Humphrey earlierthis month. Humphrey runs an international business riskadvisory firm, ChinaWhys, that has worked with drug companies,including GSK, two people familiar with the situation said atthe weekend.

Chinese police have detained four Chinese executives fromGSK and the company's head of finance for China has also beenprevented from leaving China since the end of June.

Authorities have also visited the offices of Belgiandrugmaker UCB.

More News
26 Jul 2023 09:28

TOP NEWS: GSK raises annual guidance on quarterly earnings growth

(Alliance News) - GSK PLC on Wednesday upgraded its full-year guidance, after seeing a strong quarterly performance on the strength of segments like HIV and Vaccines.

Read more
26 Jul 2023 07:55

GSK lifts full-year guidance after 'excellent' Q2

(Sharecast News) - GSK lifted its full-year guidance on Wednesday after an "excellent" second quarter.

Read more
24 Jul 2023 08:25

GSK says HIV prevention drug recommended for marketing in Europe

(Alliance News) - GSK PLC on Monday said ViiV Healthcare's cabotegravir for HIV prevention has received a positive opinion by the European Medicines Agency for marketing authorisation.

Read more
24 Jul 2023 07:07

GSK's ViiV gets Europe nod for HIV prophylaxis

(Sharecast News) - Pharmaceuticals giant GSK announced on Monday that its majority-owned HIV specialist subsidiary ViiV Healthcare has received a positive opinion from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP), recommending marketing authorisation for 'cabotegravir' long-acting (LA) injectable and tablets for HIV prevention.

Read more
22 Jul 2023 18:32

Bavarian Nordic ends RSV vaccine programme after poor trial results

July 22 (Reuters) - Denmark-based Bavarian Nordic said on Saturday it was ending its respiratory syncytial virus (RSV) vaccine programme as its Phase 3 clinical trial did not meet all the primary goals of preventing lower respiratory tract disease.

Read more
14 Jul 2023 09:13

LONDON BROKER RATINGS: HSBC says 'buy' AstraZeneca but 'reduce' GSK

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
14 Jul 2023 07:56

LONDON BRIEFING: Burberry shines in China; ITV-All3Media deal unlikely

(Alliance News) - Stocks in London are expected to slip into the red at Friday's open, in a tepid conclusion to what has been a largely positive week for global equities, as the market prices in a lower peak for US interest rates.

Read more
13 Jul 2023 16:13

Sensodyne toothpaste-maker Haleon planning job cuts - The Guardian

July 13 (Reuters) - Haleon, the world's biggest standalone consumer health business, is planning to cut hundreds of roles in the UK and worldwide, the Guardian reported on Thursday.

Read more
10 Jul 2023 09:27

LONDON BROKER RATINGS: HSBC downgrades commercial property stocks

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
6 Jul 2023 15:46

UK dividends calendar - next 7 days

Friday 7 July 
Anglo-Eastern Plantations PLCdividend payment date
Associated British Foods PLCdividend payment date
Blackrock Frontiers Investment Trust PLCdividend payment date
Crystal Amber Fund Ltddividend payment date
Forterra PLCdividend payment date
Hill & Smith PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
LXi REIT PLCdividend payment date
Restore PLCdividend payment date
S&U PLCdividend payment date
Titon Holdings PLCdividend payment date
Victorian Plumbing Group PLCdividend payment date
Warehouse REIT PLCdividend payment date
Whitbread PLCdividend payment date
WPP PLCdividend payment date
Monday 10 July 
Capital Gearing Trust PLCdividend payment date
Great Portland Estates PLCdividend payment date
Tuesday 11 July 
Emis Group PLCdividend payment date
Pets at Home Group PLCdividend payment date
Wednesday 12 July 
Assura PLCdividend payment date
LondonMetric Property PLCdividend payment date
M&C Saatchi PLCdividend payment date
Pharos Energy PLCdividend payment date
Renew Holdings PLCdividend payment date
Thursday 13 July 
BlackRock Latin American Investment Trust PLCex-dividend payment date
British American Tobacco PLCex-dividend payment date
Caffyns PLCex-dividend payment date
CMC Markets PLCex-dividend payment date
FirstGroup PLCex-dividend payment date
GSK PLCdividend payment date
Halma PLCex-dividend payment date
Invesco Bond Income Plus Ltdex-dividend payment date
JPMorgan Japan Small Cap Growth & Income PLCex-dividend payment date
Record PLCex-dividend payment date
Schroder UK Mid Cap Fund PLCex-dividend payment date
Shoe Zone PLCex-dividend payment date
Sirius Real Estate Ltdex-dividend payment date
Supermarket Income REIT PLCex-dividend payment date
Triad Group PLCex-dividend payment date
Wincanton PLCex-dividend payment date
XP Power Ltddividend payment date
Young & Co's Brewery PLCdividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
5 Jul 2023 09:34

LONDON BROKER RATINGS: UBS likes Pearson; Liberum cuts Naked Wine

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
4 Jul 2023 10:18

PRESS: Advil owner Haleon to explore sale of nicotine gum business

(Alliance News) - Haleon PLC is exploring a potential divestment of some smoking cessation products, including the Nicotinell brand of nicotine gum, patches and lozenges, according to a Bloomberg report on Tuesday.

Read more
30 Jun 2023 22:38

First trial over Zantac cancer claims set for November

June 30 (Reuters) - The first U.S. trial over claims that discontinued heartburn drug Zantac causes cancer is now expected to take place in California state court on Nov. 13, a lawyer for plaintiffs in the litigation said Friday.

Read more
29 Jun 2023 06:30

Sanofi says it's back to the drawing board on mRNA flu vaccines

June 29 (Reuters) - Sanofi said that trials show the currently available mRNA technology behind the most successful COVID-19 shots will not be effective against influenza and it is already working on a next generation of shots.

Read more
28 Jun 2023 16:18

GSK completes acquisition of chronic cough-focused Bellus Health

(Alliance News) - GSK PLC on Wednesday said it completed its acquisition of Quebec-based late-stage biopharmaceutical firm Bellus Health Inc for a total equity value of USD2.0 billion.

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.