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☆ Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac. The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer. The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers. In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.

Persons: ranitidine —, Brent Wisner, Wisner Baum, Zantac Organizations: GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's Locations: Britain, Delaware, U.S, France's Sanofi

☆ FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic
▼ + stars: | 2024-04-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Federal Trade Commission on Tuesday said it is challenging hundreds of alleged "junk" patents held by pharmaceutical companies for 20 brand-name drugs, including Novo Nordisk's blockbuster drugs Ozempic, Saxenda and Victoza. The FTC issued letters to 10 companies, warning them that certain drug patents were improperly listed. Many of the drug patents are for Type 2 diabetes, along with asthma and inhalers for chronic obstructive pulmonary disease, or COPD. Generic drugmakers can only launch cheaper versions of a branded drug if the patents have expired or are successfully challenged in court. The FTC first challenged dozens of branded drug patents last fall, leading three drugmakers to comply and delist their patents with the FDA.

Persons: Novo, Boehringer, Lina Khan, Biden, drugmakers, Joe Biden's Organizations: Federal Trade Commission, FTC, Novo Nordisk, AstraZeneca, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, Amphastar Pharmaceuticals, Food and Drug Administration, FDA Locations: U.S

☆ Pfizer's RSV vaccine shows potential to protect high-risk adults ages 18-59, widening possible use
▼ + stars: | 2024-04-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

A vaccine from Pfizer showed the potential to protect adults ages 18 to 59 who are at increased risk of getting severely sick from respiratory syncytial virus in a late stage clinical trial, the company said Tuesday. The initial data suggests that Pfizer's shot, known as Abrysvo, could help protect a far wider population from RSV. The jab is currently approved in the U.S., Europe, Japan and other countries for adults ages 60 and older and expectant mothers who can pass on protection to their fetuses. Nearly 10% of U.S. adults ages 18 to 49 have a chronic condition that puts them at risk of severe RSV disease, according to Pfizer. GSK's RSV vaccine for adults ages 60 and above booked around £1.2 billion ($1.5 billion) in sales last year.

Persons: Dr, Iona Munjal, Pfizer's Organizations: Pfizer, CNBC, GlaxoSmithKline Locations: U.S, Europe, Japan

☆ How corporate PAC money could end up in the personal coffers of Sens. JD Vance and Markwayne Mullin
▼ + stars: | 2024-03-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

At the same time, they've been taking tens of thousands of dollars in corporate PAC money — some of which may be ending up directly in the senators' bank accounts. This story is available exclusively to Business Insider subscribers. Between the 2022 election and the end of 2023, Vance has used $78,000 in corporate PAC contributions to repay campaign debts, while Mullin has done the same with $45,000 in corporate cash. Mullin did the same with 19 corporate PACs, including ConocoPhillips, ExxonMobile, and GlaxoSmithKline. He also promised not to take corporate PAC money during the GOP primary, only to reserve that pledge during the general election against Democratic Rep. Tim Ryan, who did accept corporate PAC money.

Persons: —, JD Vance, Markwayne Mullin, they've, Vance, Mullin, Sen, Ted Cruz, Elena Kagan, Cruz, Jordan Libowitz, Republican Sen, Ron Johnson of, Ron Johnson, Shawn Thew, who's, Tim Ryan, didn't, Vance's, Saurav Ghosh, Ghosh Organizations: Service, Sens, Indiana, Business, Texas Republican, Finance, FEC, Citizen, Washington, Capitol, Republican, Getty, Pro, Comcast, Intel, General Motors, Walmart —, ConocoPhillips, GlaxoSmithKline, GOP, Democratic Rep Locations: Ohio, Texas, Ron Johnson of Wisconsin, AFP, Oklahoma, The Ohio, ExxonMobile

☆ Pfizer RSV vaccine maintains protection in older adults over two seasons in trial
▼ + stars: | 2024-02-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer 's vaccine against respiratory syncytial virus maintained protection for older adults across two full seasons of the disease in an ongoing late-stage clinical trial, the company announced Thursday. The shot's efficacy declined slightly compared with the levels of protection after one RSV season, but the new data suggests that the jab generally offers durable protection for adults ages 60 and above, who are more vulnerable to severe illness from RSV. The jab showed 66.7% efficacy against that condition after one RSV season. Pfizer noted that the vaccine showed consistent efficacy against RSV A and RSV B, which are the two major subtypes of the virus, after the second RSV season. Analysts don't expect the committee to make a final recommendation until June – a decision that may have huge implications for Moderna , which is hoping to launch its own RSV jab this year.

Persons: – Organizations: Pfizer, GlaxoSmithKline, Centers for Disease Control, Moderna Locations: Northern, Southern

☆ 23andMe is low on cash and its stock is worth pennies. The CEO wants another chance
▼ + stars: | 2024-02-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Just three years ago, DNA testing company 23andMe was the golden child of Wall Street and Silicon Valley. In 2018, 23andMe agreed to a five-year exclusive drug development partnership with GSK (formerly GlaxoSmithKline). Genetic testing company 23andMe, once valued at $6 billion, is facing the possibility of delisting from NASDAQ. Justin Sullivan/Getty ImagesSo far, the partnership between GSK and 23andMe has produced more than 50 new drug targets. But drug discovery is a very long process and it can be anywhere from 10 to 15 years on average from target discovery to an FDA-approved drug.

Persons: New York CNN —, 23andMe, Anne Wojcicki, ” Wojcicki, “, Susan Wojcicki, Sergey Brin, Kyle Grillot, Wojcicki, they’ve, ”, we’re, “ We’ve, Steven Mah, TD Cowen, Mah, they’re, Justin Sullivan Organizations: New, New York CNN, Nasdaq, CNN, Stanford, Palo Alto High School, YouTube, Google, 23andMe Inc, Bloomberg, Time Magazine, P Biotech ETF, GSK, GlaxoSmithKline, NASDAQ, Big Pharma, it’s Locations: New York, Silicon Valley, Los Angeles , California, U.S, London, Sunnyvale , California, United States

☆ GSK posts blowout RSV vaccine sales, raises outlook as shots give big pharma a boost
▼ + stars: | 2024-01-31 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

GlaxoSmithKline on Wednesday lifted its long-term outlook following the smash-hit launch of its new RSV vaccine. GSK in November had forecast 2023 sales for the shot Arexvy between £900 million, or $1.1 billion, and £1 billion, or $1.26 billion, following its strong launch in the U.S. The company's RSV shot in part drove the higher forecast. The vaccine has about 70% market share for RSV, Walmsley added on Wednesday. Meanwhile, biotech company Moderna hopes to launch its own RSV vaccine this year.

Persons: Emma Walmsley, Walmsley, Arexvy, That's, Pfizer's, Albert Bourla, Bourla Organizations: GlaxoSmithKline, Stevenage, GSK, U.S, Pfizer, U.S . Food, Drug Administration, Moderna Locations: Britain, British, U.S, Canada, Japan

Cameroon will be the first country to routinely give children a new malaria vaccine as the shots are rolled out in Africa. Gavi said it is working with 20 other African countries to help them get the vaccine and that those countries will hopefully immunize more than 6 million children through 2025. Political Cartoons View All 253 ImagesCameroon will use the first of two recently approved malaria vaccines, known as Mosquirix. That vaccine is cheaper, requires three doses and India’s Serum Institute said they could make up to 200 million doses a year. Neither of the malaria vaccines stop transmission, so other tools like bed nets and insecticidal spraying will still be critical.

Persons: Aurelia Nguyen, Gavi, Gavi's Nguyen Organizations: World Health Organization, GlaxoSmithKline, GSK, Oxford University, WHO, Serum Institute, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Cameroon, Africa, Central Africa, Oxford

☆ Pharma giants are hiking prices on over 500 drugs for 2024, report says
▼ + stars: | 2024-01-02 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Read previewPharmaceutical giants Pfizer, Sanofi, and Takeda Pharmaceutical are due to raise prices on more than 500 drugs in the US from January, according to the Reuters news agency. This story is available exclusively to Business Insider subscribers. It comes as the pharmaceutical sector prepares for the Biden Administration's release of discounted prices for 10 high-cost drugs in September. AdvertisementFurther in the future, the Biden administration's Inflation Reduction Act includes new provisions to allow the government's Medicaid health program to directly negotiate drug prices with their makers — but only from 2026. It said that three companies, including GlaxoSmithKline, are poised to lower prices in January across at least 15 drugs.

Persons: —, Takeda, Biden Organizations: Service, Pfizer, Sanofi, Takeda Pharmaceutical, Reuters, Business, Biden, GlaxoSmithKline

In business, that meant building a fortune by hyping a drug that ultimately failed. In politics, it means arguing he can return Trump's “America First” vision to the White House without the baggage. Ramaswamy majored in biology and participated in the campus Republican club, standing out even there as a libertarian. “I believe Donald Trump was an excellent president,” Ramaswamy said while campaigning in Atlanta. While many conservatives dislike foreign aid, Republican voters align heavily with Israel.

Persons: Vivek Ramaswamy, ”, “, Ramaswamy, Ramaswamy skewered Nikki Haley, Ron DeSantis, Dick Cheney, Haley, Donald Trump, Ann Trimble Ray, Ramaswamy “, he’s, you’ve, Ray, “ Da, ” Ramaswamy, Goldman Sachs, Dan Gold, —, Intepirdine, Axovant, divesting, Jeffrey Sonnenfeld, Ramaswamy sidesteps, Trump’s, He's, Israel’s, ” Ramaswamy jousted, Tucker Carlson, Sean Hannity, Carlson, Hannity, denigrating, Trump, Putin, Xi, ” Haley, Linley Sanders, Thomas Beaumont Organizations: ATLANTA, Republican, Florida Gov, DeSantis, Harvard, Crimson, Goldman, Wall Street, QVT, GlaxoSmithKline, New York Times, Forbes, Yale School of Management, Disney, Republicans, Israel, Associated Press, NORC, for Public Research, Fox News, GOP Locations: United States, Israel, Ukraine, Ohio, , Iowa, Atlanta, American, U.S, Gaza, Iraq, Afghanistan, Washington, Des Moines , Iowa

☆ GSK lifts annual forecasts on strong launch of RSV vaccine
▼ + stars: | 2023-11-01 | by ( Eva Mathews | ) www.reuters.com time to read: +3 min

Arexvy, launched in the United States recently, recorded third quarter sales of 709 million pounds ($862 million), trouncing analysts' expectations of 358 million pounds, according to a company-compiled consensus. GSK accounts for close to two-thirds of RSV shots given in the United States since early September, according to IQVIA data. Full-year sales are seen between 900 million pounds and 1 billion pounds for the shot, GSK said. The company faces about 79,000 cases related to Zantac in the United States, with 73,000 of them in Delaware and scheduled for trial starting January 2024. For the third quarter, Shingrix, the company's top-selling drug for shingles, generated 825 million pounds in sales.

Persons: Dado Ruvic, Abrysvo, Dani Saurymper, Emma Walmsley, Eva Mathews, Maggie Fick, Tomasz Janowski, Mark Potter Organizations: GSK, GlaxoSmithKline, REUTERS, stg, CVS, Pfizer, Pacific Asset Management, GSK's, Thomson Locations: London, United States, U.S, Europe, Japan, Delaware, Bengaluru

☆ GSK raises annual forecasts powered by strong Arexvy launch
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Analysts expect the British drugmaker's RSV vaccine Arexvy to power future growth, amid worries about the strength of its pipeline of drugs in development and costly U.S. litigation over discontinued heartburn drug Zantac. Arexvy, launched in the United States recently, is expected to garner full-year sales of between 900 million pounds to 1 billion pounds ($1.22 billion), GSK said. For the third quarter, the shot recorded sales of 709 million pounds, trouncing analysts' expectations of 358 million pounds, according to a company-compiled consensus. Meanwhile, sales are seen to rise by 12% to 13% in 2023 compared with earlier expectations of 8% to 10%. For the reported quarter, sales of Shingrix, the company's top-selling drug to treat shingles, generated 825 million pounds, below market estimates of 868 million pounds.

Persons: Dado Ruvic, Eva Mathews, Subhranshu Sahu, Tomasz Janowski Organizations: GSK, GlaxoSmithKline, REUTERS, Thomson Locations: United States, Bengaluru

☆ RSV vaccine from GSK shows potential to protect adults 50 to 59
▼ + stars: | 2023-10-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

A vaccine from GlaxoSmithKline showed the potential to protect adults ages 50 to 59 from respiratory syncytial virus in a late-stage clinical trial, the company said Wednesday. Currently, Arexvy is approved in the U.S., Europe, Japan and other countries for adults ages 60 and older. A single dose of the British drugmaker's shot elicited an immune response in adults ages 50 to 59 who are at an increased risk of catching RSV due to certain underlying medical conditions. The immune response wasn't worse than that observed in adults 60 and above, GSK said in a release. Safety data in adults ages 50 to 59 was also consistent with data in adults 60 and above, according to GSK.

Persons: Tony Wood Organizations: GlaxoSmithKline, Arexvy, GSK, Food and Drug Administration Locations: U.S, Europe, Japan, British

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON/SHANGHAI Oct 9 (Reuters) - China's largest vaccines company Zhifei (300122.SZ) will pay British drugmaker GSK (GSK.L) 2.5 billion pounds ($3.05 billion pound) for the exclusive rights to distribute GSK's shingles vaccine in the world's No.2 pharmaceuticals market. The deal with Zhifei is part of its efforts to reach more 4 billion pounds ($4.88 billion) in sales by 2026, GSK said. Zhifei will purchase volumes of Shingrix with a value to GSK worth 2.5 billion pounds over an initial three-year period, GSK said. Zhifei shares were up as much as 20% to 58.40 yuan ($8.00) following the filing, their highest point since March 27. Shingrix is currently GSK's biggest product and strongest growth driver, taking in 1.71 billion pounds in first-half sales, up 20% from a year prior.

Persons: Dado Ruvic, Zhifei, Shingrix, Maggie Fick, Andrew Silver, Eva Mathews, Savio D'Souza, Louise Heavens Organizations: GSK, GlaxoSmithKline, REUTERS, British, AstraZeneca, Zhifei, Barclays, Reuters, Thomson Locations: SHANGHAI, China, United States, London, Shanghai, Bengaluru

☆ GSK raises $1.1 billion from Haleon stake sale
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 6 (Reuters) - British drugmaker GSK (GSK.L) on Friday said it raised 885.6 million pounds ($1.08 billion) from a discounted stake sale in Haleon (HLN.L), cutting its shareholding to 7.4% in the world's largest standalone consumer healthcare firm. The sale of 270 million shares at 328 pence apiece, represented a discount of about 2.5% to Haleon's last close of 336.25 pence on Thursday. Shares in Haleon were down 1.2% while GSK was marginally up 0.4% at 0800 GMT. Pfizer, which holds a 32% stake in Haleon, said in May it plans to cut its ownership in a "slow and methodical" manner within months. The British drugmaker and Pfizer have agreed to not sell any further Haleon shares for 60 days from the settlement of placing.

Persons: Dado Ruvic, Emma Walmsley, Prerna Bedi, Sonia Cheema, Elaine Hardcastle Organizations: GSK, GlaxoSmithKline, REUTERS, British, AstraZeneca, London Stock Exchange, Pfizer, Thomson Locations: Haleon, British, Bengaluru

☆ RSV vaccine: There’s one for older adults, pregnant people and infants
▼ + stars: | 2023-10-05 | by ( Katia Hetter | ) edition.cnn.com time to read: +7 min

CNN —For the first time, adults 60 and older are eligible to receive a vaccine against the respiratory syncytial virus, or RSV. Since this is the first time an RSV vaccine has been made widely available, some older people may be wondering why it might be needed. Is RSV a major problem in adults, especially older adults? Tragically, around 10,000 to 13,000 older adults annually die from this infection. I also do not recommend that people who have decided to get the RSV vaccine to wait.

Persons: Abrysvo, Leana Wen, —, Wen Organizations: CNN, Food and Drug Administration, GlaxoSmithKline, Pfizer, US Centers for Disease Control, CNN Wellness, George Washington University Milken Institute School of Public Health, CDC, FDA Locations: United States, It’s

☆ Moderna combination Covid, flu vaccine moves to final stage trial after positive data
▼ + stars: | 2023-10-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Moderna on Wednesday said its combination vaccine targeting Covid and the flu will move to a final stage trial in adults ages 50 and above this year after showing positive results in an early to mid-stage study. The trial evaluated the combination shot in two different age groups: people 50 to 64 years of age and participants 65 to 79. The safety data of mRNA-1083 was similar to that of the stand-alone Covid shot, according to Moderna. No new safety concerns were identified with the combination vaccine. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.

Persons: Stéphane Bancel, BioNTech Organizations: Moderna, Pfizer, GlaxoSmithKline Locations: Moderna

NEW YORK (AP) — Magic Johnson's love for his Los Angeles Lakers has kept him from considering ownership of any other NBA team. The New York Knicks would be the one franchise that could make him have second thoughts. But the basketball Hall of Famer repeatedly has passed on opportunities for ownership in the sport he knows best. “I love being with fans who are so passionate about their team and the Knick fans are, and they’re smart. They’re smart basketball fans and so that one I would have to think about.

Persons: ” Johnson, “, Johnson, James Dolan, ”, LeBron James, David Stern, “ I’ve, GlaxoSmithKline's, “ I'm Organizations: Los Angeles Lakers, NBA, The New York Knicks, New York Knicks, NFL, Buffalo Bills, Dodgers, of Famer, Golden State Warriors, Detroit Pistons, Atlanta Hawks, Lakers, Knicks, Associated Press, Garden, AIDS Locations: New York, Washington, Los Angeles, Madison

But Mintz also acknowledges that having more places to access PrEP likely will not be enough to substantially increase its use in more vulnerable communities. “There needs to be a couple of levers that need to be pulled for everybody to access PrEP who are eligible to access PrEP,” Mintz says. (Joe Raedle/Getty Images)Meanwhile, a pending ruling in a federal appellate court looms as a threat that could more broadly undermine PrEP coverage. “We don’t know what the 5th Circuit could do.”In the wake of the March court ruling, insurers expressed support for preventive services. “Right now, PrEP uptake is quite good among gay white men, but among people of color and among women PrEP access is quite limited,” Dawson says.

Persons: Apretude, ”, Omar Martinez Gonzalez, Sean Bland, we’re, ” Bland, Truvada, ” Martinez Gonzalez, Laura Mintz, Mintz, ” Mintz, Truvada –, AIDSVu, Joe Raedle, Laurie Sobel, “, ” Sobel, Lindsey Dawson, ” Dawson, Torrian Baskerville, Baskerville, ” Baskerville, who’d, Biden, Bland Organizations: U.S . Preventive Services Task Force, U.S . Food, Drug Administration, Affordable, AIDS Foundation Chicago, “, Centers for Disease Control, Santa Clara University School of Law, Georgetown University’s O’Neill Institute for National, Global Health, Blacks, PrEP, Emory University, Gilead Sciences, Black PrEP, Case Western Reserve University School of Medicine, Pride Network of, ViiV Healthcare, GlaxoSmithKline, U.S, Circuit, Appeals, Supreme, Human Rights, Navigators, Department of Health, Human Services Locations: U.S, Black, Cleveland, Gilead, –, Miami, Texas, Ohio

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

☆ Moderna says flu vaccine showed promising results in phase three trial, paving path to approval
▼ + stars: | 2023-09-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Wednesday's results are also a sigh of relief for Moderna after the company pushed back its experimental flu shot program in April. Moderna compared the flu vaccine, dubbed mRNA-1010, to a currently approved seasonal flu vaccine from GlaxoSmithKline called Fluarix. Moderna's flu shot also generated higher seroconversion rates, which refers to the development of specific antibodies against a virus. Also on Wednesday, Moderna said it is ending a separate phase three trial on the first version of its flu vaccine. "With today's positive phase 3 flu results, along with previous results in Covid and RSV, we are now three for three on advancing respiratory disease programs to positive phase 3 data."

Persons: Moderna, Stephane Bancel Organizations: Moderna, U.S, GlaxoSmithKline, World Health Organization –, Food and Drug Administration, FDA, Pfizer, GSK Locations: Moderna, Covid

☆ GSK Nigeria calls an end to its business, to return cash
▼ + stars: | 2023-08-03 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +2 min

ABUJA, Aug 3 (Reuters) - GlaxoSmithKline (GSK) Nigeria (GLAXOSM.LG) said on Thursday it plans to stop doing business after evaluating the options for moving to a third-party distribution model for its drugs and consumer healthcare goods. GSK Nigeria, which has faced increased competition from local companies and imports from India and China, said its half-year sales had dropped to 7.75 billion naira ($9.82 million), from 14.8 billion naira in the same period a year ago. GSK Nigeria said it is working with advisers to agree next steps and plans to submit a scheme of arrangement to Nigeria's Securities and Exchange Commission, which if approved will see it return cash to shareholders except its parent GSK. "For the above reasons, and having, together with GSK UK, evaluated various other options, the Board of GlaxoSmithKline Consumer Nigeria Plc has concluded that there is no alternative but to cease operations," GSK Nigeria said in a statement. Shares in GSK Nigeria, in which British drugmaker GSK has a 46.4% stake and Nigerian shareholders the remaining 53.6%, closed at 8.10 naira, down from a peak of 42.24 naira in 2014.

Persons: Bola Tinubu, Tinubu, Chijioke Ohuocha, Alexander Smith Organizations: GlaxoSmithKline, GSK, Nigeria's Securities, Exchange Commission, Haleon, GlaxoSmithKline Consumer Nigeria Plc, British, Thomson Locations: ABUJA, Nigeria, GSK Nigeria, India, China, British, Africa

☆ GSK sues Pfizer in U.S. court for patent infringement over RSV vaccine
▼ + stars: | 2023-08-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

GlaxoSmithKline on Wednesday sued Pfizer in U.S. court, alleging patent infringement over Britain-based GSK's respiratory syncytial virus vaccine. GSK claims Pfizer's RSV vaccine, Abrysvo, infringes on four of its patents related to the antigen used in its own shot. "Upon information and belief, Pfizer knowingly uses GSK's claimed inventions in Abrysvo without permission," GSK wrote in a scathing complaint filed in federal court in Delaware. They are the first shots approved to prevent RSV, a common respiratory infection that usually causes mild, cold-like symptoms, but more severe cases in older adults and children. Each year, RSV kills 6,000 to 10,000 seniors and a few hundred children younger than 5, according to CDC data.

Persons: infringes Organizations: GlaxoSmithKline, Wednesday, Pfizer, GSK, U.S . Food, Drug Administration, Walgreens Locations: Britain, Delaware

☆ GSK chief says RSV vaccine will start off slower than shingles shot – but will drive future sales
▼ + stars: | 2023-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

GlaxoSmithKline CEO Emma Walmsley on Wednesday said she expects uptake for the company's new RSV vaccine to start off slower than it did for its blockbuster shingles shot. Last month, GSK's RSV shot became the first to win approval in the U.S. and European Union for the treatment of adults 60 and above. The company has not provided estimates for how much revenue the RSV shot will rake in this year following its launch. GSK's vaccine against shingles, a viral infection that causes a painful rash, is the company's top-selling drug. Investors are hoping that Shingrix and GSK's RSV shot will help offset patent expirations for some of the company's blockbuster HIV drugs in a few years.

Persons: Emma Walmsley, Walmsley Organizations: GSK, Union, U.S, European Union, Investors Locations: London, U.S, Japan, Canada

Kering, the French luxury goods company that owns brands like Balenciaga, Alexander McQueen and Yves Saint Laurent, surprised the fashion industry this week when it announced a sweeping reorganization of its top ranks, including the departure of Marco Bizzarri, the longtime chief executive of Gucci, Kering’s premier brand. Activists have turned on the luxury industry in recent years. Dan Loeb’s Third Point as well as Artisan Partners called for change at Richemont, the owner of jewelry brands like Cartier and Van Cleef & Arpels. But the most active recently is Bluebell, a four-year-old, $250 million firm that has also taken aim at Richemont, and the fashion brand Hugo Boss. Bluebell failed to persuade fellow Richemont shareholders to add Francesco Trapani, the former chief executive of Bulgari, as a director, but the conglomerate agreed to give public investors more influence.

Persons: Alexander McQueen, Yves Saint Laurent, Marco Bizzarri, Gucci, François, Henri Pinault, Kering, Dan Loeb’s, Van Cleef, Hugo Boss, Bluebell, Francesco Trapani Organizations: Kering’s, Bluebell Capital Partners, Partners, Cartier, BlackRock, GlaxoSmithKline Locations: London

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