In this week’s market report Oliver Phillips talks about GlaxoSmithKline…
The FTSE 100 index rose 0.6% to 6583.8 as investor confidence in the UK’s economic recovery was boosted by data revealing a higher-than-expected drop in jobless claims and a fall in the nation’s unemployment rate.
Stocks in focus: GlaxoSmithKline
What does it do?
GlaxoSmithKline is a global healthcare company that researches and develops a broad range of innovative medicines, vaccines and consumer health brands.
How is it doing?
Following on from the recent investigation into alleged mis-selling practices in China, the group’s risk profile has been increased by news last week that the US Food and Drug Administration (FDA) has issued guidance for generic competition to its $8-billion-a-year asthma treatment Advair, for which GSK’s main US patent expired in 2010. Unique among blockbusters, the drug has thus far remained free of generic competition thanks to the difficulty of…
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