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GlaxoSmithKline

What the GSK , Novartis Deal Means for Biotech

The loud welcome given by investors to this week's deal for Novartis and GlaxoSmithKline to trade more than $20 billion of assets could trigger more pacts in the pharmaceuticals sector and beyond.Such swapping of assets is rare in any sector, yet it can make a lot of sense where companies are committed to playing to their strengths by building up certain businesses and divesting others, while avoiding the pitfalls of large-scale mergers.With the Novartis-GSK template now available for all to examine, bankers and industry experts said that a milestone had been passed.Chris Stirling, global head of KPMG's life sciences practice, expects more asset swaps to be discussed in boardrooms of drugmakers and large corporations with portfolios ripe for restructuring, such as consumer goods groups."Where you've got large global businesses operating in lots of different areas, then I think this is something chief executives will now look at seriously, given that this deal provides them with a great...

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  1. Stock Futures Steady Amid Raft of Health M&A

    FOX Business: Capitalism Lives HereU.S. stock-index futures were little changed on Tuesday as traders eyed a slew of merger activity in the pharmaceutical sector. To...

  2. Wall Street Ticks Up as Traders Parse News Deluge

    FOX Business: Capitalism Lives HereU.S. stocks inched higher on Tuesday as traders reviewed a flood of corporate earnings and deal news.Today's MarketsAs of 9:32 a.m...

  3. M&A Buzz Boosts Markets

    FOX Business: Capitalism Lives HereA jolt of deal-making in the biotechnology sector, combined with generally upbeat earnings news, sent Wall Street climbing higher....

  4. Drug Stocks Drive European Markets Higher

    Drug makers took center stage in European trading Tuesday, with shares of AstraZeneca PLC climbing on news of a potential takeover bid, and GlaxoSmithKline PLC risin...

  5. GlaxoSmithKline says Novartis deal could lead to more disposals

    GlaxoSmithKline said the group's deal with Novartis narrowed its focus on the key areas of vaccines, respiratory, consumer and HIV medicines, and could be followed b...

  6. European Stocks Rise As AstraZeneca, Glaxo Climb

    European stocks rose Tuesday, aided by strength from a number of pharmaceutical shares. The Stoxx Europe 600 rose 0.9% to 335.25, with AstraZeneca PLC jumping 7.4% f...

  7. GlaxoSmithKline Sells Oncology Portfolio To Novartis For $16B

    GlaxoSmithKline Group PLC said Tuesday that it will sell its oncology portfolio to Novartis AG for $16 billion, as part of a three-part transaction that also involve...

  8. Pfizer Could See Value in AstraZeneca Pipeline

    Pfizer may come back to bid for British drug company AstraZeneca after its reported 60 billion pound ($101 billion) takeover approach was rejected, since a deal coul...

  9. Report: Pfizer Mulls Bid for AstraZeneca

    U.S. pharmaceutical giant Pfizer (PFE.N) has approached British rival AstraZeneca (AZN.L) to propose a 60 billion pound ($101 billion) takeover, Britain's Sunday Tim...

  10. GSK Faces Criminal Bribery Investigation In Poland

    GlaxoSmithKline is facing a criminal investigation in Poland for allegedly bribing doctors to promote its lung drug Seretide, adding to problems for a company alread...

  11. GSK faces bribery investigation in Poland: BBC

    GlaxoSmithKline Plc is facing a criminal investigation in Poland for allegedly bribing doctors to promote its asthma drug Seretide, BBC Panorama reported on Sunday.T...

  12. Report: GSK Fires Some China Staff for Malpractice

    GlaxoSmithKline, facing allegations of bribery in China, has dismissed some employees in the country over failure to comply with expenses rules, a person familiar wi...

  1. Pharma Deal Frenzy: A Bid to Boost Profits

    High-priced pharmacy deals are all the rage this year as big drug companies stung by patent expirations attempt to offset losses and reduce risk and costs by joining...

  2. Amgen Slumps After 1Q Earnings Miss

    Amgen (NASDAQ:AMGN) said Tuesday its first-quarter profit dropped 25% amid lower-than-expected sales for the biopharmaceutical firm.The company reported net income o...

  3. Big news in pharma

    Altaira senior managing director Ralph Acampora on the Novartis M&A news and the landscape for pharmaceuticals.

  4. U.S. futures look for direction

    FBN’s Maria Bartiromo on U.S. futures and the $25 billion in Novartis deals.

  5. Novartis sees GSK's cancer drugs as potential blockbusters

    Novartis believes GlaxoSmithKline's cancer drugs Votrient, Tafinlar and Mekinist could have more than $1 billion in sales each, the head of the Swiss company's pharm...

  6. Drug ETFs Surge On M&A Activity (AGN, VRX, IHE, XPH, PPH, AZN)

    Over the past couple of days there has been news of several multi-billion dollar deals in the pharmaceutical sector.The big news came on Monday night when it began t...

  7. Novartis Announces Multi-Billion-Dollar Revamp

    Novartis (NYSE:NVS) is revamping its portfolio with a flurry of deals worth about $25 billion, as the Swiss pharmaceutical giant plans to swap assets with GlaxoSmith...

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