GlaxoSmithKline

Ticker GSK

Today's data summary

Market closed
% change
-0.05%
Price Pence
1479.20
Change
-0.80
As of 23:57 12 Dec 2018
Market cap. Pound sterling
73,386.00 million
As of 23:57 12 Dec 2018

Latest updates

Unilever buys Asian Horlicks business

Horlicks
Getty Images

Unilever is buying the health drinks business of GSK in India, Bangladesh and 20 other mainly Asian countries.

It includes drinks under the Horlicks brand.

Unilever is paying €3.3bn for the business.

“Horlicks has made a significant contribution to GSK and to the health of consumers across India for many decades and we believe Unilever is well placed to maximise its future potential," said Emma Walmsley, chief executive of GSK.

"Proceeds from this transaction will be used to support the Group’s strategic priorities, including investing in our pharmaceutical business.”

An interesting fact about Horlicks marketing - while here it's sold as a bedtime drink, in India it's sold as a energy one. Read about it here.

FTSE 350 female leaders fall

GlaxoSmithKline chief executive Emma Walmsley
GlaxoSmithKline
GlaxoSmithKline is one of the few FTSE companies to boast a female chief executive in Emma Walmsley

The number of female chief executives in the FTSE 350 has fallen to 12 compared with 15 last year, according to the Hampton-Alexander Review.

A report by the group - set up to make sure that 33% of company boards are made up of women by 2020 - says: "A sharper focus is needed to understand what is happening in the appointment process for these really top jobs."

GSK's 'pipeline fairly thin'

While the performance of the shingles vaccine Shingrix has provided some encouragement for GSK investors about its drugs in development, it's not time for GSK to rest on its laurels, analysts said.

We are encouraged by this performance, however we aren’t going to get too excited by one quarter. Confidence in GSK’s drug pipeline is still fairly thin on the ground, especially relative to its UK peer, AstraZeneca, which has recently enjoyed a flurry of new drug approvals.

Charlie Huggins, manager of a Hargreaves Lansdown fund

GSK jumps on shingles vaccine

GSK logo
BBC

Shares in GlaxoSmithKline were up almost 3% earlier in the day after reporting strong results for the first nine months of the year. They're still 1.4 higher than their opening price.

The pharma giant pointed to the strong performance of shingles vaccine Shingrix, for which it now expects sales to reach £700m to £750m in the full year - £100m higher than the previous target.

"Strong commercial execution for key products and new launches, notably Shingrix, together with an effective focus on cost control is driving this improved performance," said Emma Walmsley, chief executive.

Operating profit for the nine months to September rose 7% to £6.5bn.

Consultations begin on Ulverston GSK job cuts

Consultations have begun over nearly 200 redundancies at the GlaxoSmithKline medicines plant in Ulverston.

MPs and local councillors are hoping to meet senior management at the drugs factory to talk about ways to minimise the economic damage from the job losses, which were announced last week.

Glaxo gates
BBC

Managers will pick 191 staff who will go as GSK stops producing the injectable form of its antibiotic, although the firm has said it will continue to produce the active ingredient for a profitable tablet and liquid form

The company has said it will put money into a job creation fund, and that it will stand by promise of £2m to help Ulverston get a new swimming pool and leisure centre

Market for GSK pills is growing, Ulverston meeting told

A meeting in Ulverston has been told that market for some of the products that will continue to come out of the Ulverston GlaxosmithKline plant, where job losses have been announced, is continuing to grow.

The factory makes the ingredients for cephalosporin antibiotics, and a meeting of the local task force was told that while the production of injectable forms was no longer profitable, the tablet form, Zinnat, had good prospects.

The MP for the neighbouring constituency, Tim Farron, said further investment would be "a test of GSK's integrity", after the company cancelled a huge investment programme last year.

But the plant director, Phil Wilson, insisted the future of the site was sustainable and more investment would go into the "orals", as the tablets are known.

GSK factory
BBC

GSK 'in Ulverston for the long term' in spite of job cuts

The pharmaceutical giant GlaxoSmithKline will stay in Ulverston for the long term despite of announcing the workforce will be more than halved in the coming two years, the firm says.

GSK announced yesterday that it was no longer trying to sell the plant, but it would be ending production of antibiotics for injections, with the loss of nearly 200 jobs.

Phil Wilson outside GSK plant
BBC

The site manager Phil Wilson denied accusations from the local MP John Woodcock that the firm was letting its workforce down, and said there would be help for those being made redundant to find other work.

We have a really strong business here at Ulverston for the longer term, and we just stress the site is not closing, we have a long term future here."

Phil Wilson

GSK to keep Ulverston, but more than half the jobs to go

The giant pharmaceutical company GlaxoSmithKline has announced that it is not going to sell the Ulverston antibiotics plant, but it will shed more than half the jobs there.

GSK gate
BBC

GSK announced last July that it was scrapping plans for a major expansion at the plant, and it has now stepped back from a proposal to seek a new owner.

About 150 employees will remain, making antibiotic tablets and liquids, but the company told workers this afternoon that it would stop making ingredients for sterile injections, which would mean around 200 staff leaving over the next two years.

The company stressed the decision was not related to the UK leaving the EU, and said it would offer support and retraining for workers, and measures to help regenerate the community.