glaxosmithkline plc-spon adr (GSK) Key Developments
European Commission Approves Both GSK's Acquisition of Novartis' Vaccines Business and Consumer Healthcare Joint Venture Between GSK and Novartis
Jan 28 15
The European Commission has cleared under the EU Merger Regulation both the proposed acquisition of the vaccines business of Novartis' by GlaxoSmithKline, as well as the proposed creation of a new entity combining the consumer health activities of GSK and Novartis. The decision is conditional upon the divestiture of assets in the vaccines and consumer health businesses. The Commission had concerns that the transaction would have eliminated an important competitor to GSK for the supply of several vaccines and consumer health products, which might lead to price increases for European consumers. The commitments address these concerns. As a result of the transaction: GSK will acquire Novartis' global human vaccines business, except the influenza vaccines business; and GSK and Novartis will combine their global consumer health business in a new entity, which will be controlled by GSK. This transaction is part of a 3-part inter-conditional deal between the two companies: in a separately notified case (M.7275) Novartis plans to acquire part of GSK's oncology business portfolio. In a separate decision taken, the Commission has also approved that part of the deal.
GlaxoSmithKline plc Announces Board Committee Changes
Jan 27 15
GSK announced that Sir Philip Hampton has been appointed as Chairman of the Nominations Committee with effect from Jan. 27, 2015, replacing Sir Christopher Gent, who will continue to serve as a member of the Committee for the remainder of his tenure on the Board. In addition, Ms. Lynn Elsenhans has also been appointed a member of the Committee, effective Jan. 27, 2015.
GlaxoSmithKline plc Expands its Portfolio of Medicines in the US for Patients with Asthma and COPD
Jan 26 15
GlaxoSmithKline plc announced the simultaneous availability of two of its recently approved products for the treatment of asthma and COPD to retail pharmacies in the US. Over the past 15 months, GSK has launched four inhaled respiratory therapies in the US, all delivered in its Ellipta inhaler. Arnuity Ellipta (fluticasone furoate inhalation powder) is a once-daily inhaled corticosteroid (ICS) medicine for the maintenance treatment of asthma. It is the first product in the Ellipta inhaler for the treatment of asthma to be introduced in the US. Arnuity Ellipta is indicated for once-daily maintenance treatment of asthma as prophylactic therapy in patients aged 12 years and older. Arnuity Ellipta is not indicated for the relief of acute bronchospasm. It acts to reduce inflammation associated with asthma and helps to prevent and control the symptoms of asthma. Arnuity Ellipta is available in two approved doses, 100mcg and 200mcg. GSK also announced that Incruse Ellipta (umeclidinium bromide), an anticholinergic indicated for the long-term, once-daily maintenance treatment of airflow obstruction in patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and/or emphysema, is now available to retail pharmacies in the US. Incruse is GSK's first anticholinergic monotherapy, a type of bronchodilator that can relax airway smooth muscles and improve airflow in and out of the lungs. Incruse Ellipta is available as 62.5mcg of umeclidinium dry inhalation powder, administered once-daily using the Ellipta inhaler.
GlaxoSmithKline to Let Go Around 1,000 Employees in China
Jan 23 15
GlaxoSmithKline's China operations will lay off about 1,000 people in the year 2015. The company's China-based arm did not confirm the plans when contacted by Caixin, however one of the sources said GSK would cut 450 employees in the first quarter, with a larger number to be let go in the second. The company faced a bribe scandal in 2013, with revenue slumping in China for the first three quarters of that year.
GlaxoSmithKline May launch IPOs For Its Composite Units
Jan 16 15
GlaxoSmithKline plc (LSE:GSK) (GSK) may launch partial public share offerings for composite units as a part of its evolving process. Andrew Witty, Chief Executive Officer said that there might be changes in the structure of GlaxoSmithKline although nothing has been finanlised yet. Andrew Witty further said, “Future M&A in the consumer space could get quite interesting again", and that GSK will continue its acquisitions by being part of lucrative drug deals.