Reckitt Benckiser plunges as US investment bank slams ‘weak’ work culture
“The surprise retirement of CEO Kapoor crystallises long-brewing anxieties. We see no quick fixes and a material risk of a margin re-set under a new CEO.”
Company
GSK PLC
LON:GSK
GSK PLC will be a fully focused biopharma company following the demerger of its world-leading consumer healthcare business, Haleon, in July 2022. The company will prioritise innovation in vaccines and specialty medicines, maximising the increasing opportunities to prevent and treat disease.
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GSK chairman steps down after consumer healthcare merger with Pfizer
GSK chairman Sir Philip Hampton said following a deal with Pfizer to merge their consumer businesses, he believes "this is the right moment" to step down
Investments and investor services
FTSE 100 nudges lower at close as China growth worries hit stocks
The UK's blue-chip index finished down nearly seven points at 6,96, while FTSE 250 was also lower
Archive
FTSE 100 closes higher as Wall Street shares mixed; optimism over trade talks fades
The Footsie has been dipping below and above the 6,800 mark throughout the day
Archive
Debenhams set to disappoint again on Thursday
“Debenhams hasn’t updated on trading since 25 October and we know from many of its competitors that November was a terrible month for retailers and December is also likely to have been a struggle”
Archive
Slew of Christmas updates from retailers to dominate after Next's positive seasonal surprise
The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
GlaxoSmithKline spikes higher as it inks US$12.7bn consumer healthcare deal with Pfizer
GSK will own 68% of the combined entity, which brings together products such as Panadol and Advil
FTSE 100 closes higher Wednesday; Dow Jones up 1.3%
The UK's premier share index finished over 64 points higher at 6,765
Alliance Pharma bolsters board with addition of two experienced non-execs
Jo Le Couilliard spent much of her career at GSK, while Richard Jones is an ex-investment banker and the current CFO of AIM-listed Mereo Biopharma
GlaxoSmithKline shares drift lower as Morgan Stanley reinitiates coverage with ‘underweight’ stance
The US investment bank set a price target of 1,460p on the FTSE 100-listed firm, with Glaxo's shares trading at 1,476.20p late morning, down 0.4% on Thursday’s closing price
Lloyds, Vodafone, BP, GSK and Sirius Minerals the top traded companies of 2018
The Share Centre's Helal Miah said Lloyds' dividends have been restored to historic norms as profits have recovered after its restructuring
Sterling slump: Who’s benefitting?
On Monday, fresh Brexit volatility pushed the pound to a yearly low against the dollar but despite the turmoil, some firms are profiting handsomely
Barclays downgrades GSK; warns of “significant EPS dilution” from Tesaro acquisition
Barclays reckons the GSK valuation remains appealing, but is waiting until 2019 before piling back in, as it thinks the shares might drift a little lower yet
Delays to Mylan’s Wixela inhaler to hit Consort Medical’s annual profits by £3mln
The US FDA has twice rejected Wixela, and despite Mylan’s claims that approval is around the corner, the green light is yet to be shown
GSK to buy US cancer drug firm Tesaro after making a Horlicks with Unilever
GSK said the acquisition will support "our aim to deliver long-term sustainable growth and is consistent with our capital allocation priorities"
GlaxoSmithKline sells Indian Horlicks business to Unilever
The US$3.8bn deal covers GSK’s health food and drinks portfolio in India, Bangladesh, and 20 other predominantly Asian markets
FTSE 100 clings on to triple-digit gain
The Footsie looked destined to finish well off the top but still sporting a handsome gain following a weekend of deals at the G20 and Opec meetings
GSK confirms it is considering merger of consumer healthcare unit
The possible merger is part of a strategic review of GSK’s Indian Horlicks business and other consumer healthcare nutrition products
Unilever in exclusive talks to acquire GlaxoSmithKline's Indian Horlicks nutrition business - report
However, Indian newspaper Times of India reported that Swiss consumer products rival Nestlé SA is close to buying Horlicks and other Glaxo consumer healthcare assets
Investments and investor services
FTSE 100 closes marginally higher as PM May defends draft Brexit deal
The UK's premier share index closed up around four points at 7,038, while the FTSE 250 shed almost 248 points at 18,662.