glaxosmithkline plc-spon adr (GSK) Key Developments
Novartis To Sell Unit Being Built In Pernambuco
Oct 16 14
Novartis AG (SWX:NOVN) will no longer pursue the project being built in Pernambuco. Valor has learned that Novartis is seeking companies interested in taking over the unit, which is being built in Jaboatão dos Guararapes. One company possibly interested in acquiring the plant would be GlaxoSmithKline plc (LSE:GSK).
GlaxoSmithKline Seeking Bids By Next Month For Older Drugs
Oct 14 14
GlaxoSmithKline plc (LSE:GSK) is seeking binding bids by next month for a range of older drugs worth more than $3 billion, which it is likely to sell by geographical region, according to people with direct knowledge of the process. Potential bidders include Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), Lupin Limited (BSE:500257) and H. Lundbeck A/S (CPSE:LUN) all of which are interested in acquiring rights to products in certain regions. Lundbeck is reviewing a bid for products marketed in North America as it seeks to expand there, two of the sources said. KKR has teamed up with Norgine B.V. in a bid to acquire some of GSK's drugs sold in Europe, said the same people. Lupin is also expected to participate in the second round of the auction and would be interested in products in the United States, said the sources. Other private equity funds with an interest in healthcare are also looking at some specific products. Some bidders might still emerge with an interest in the entire portfolio, although this scenario is seen as less likely. The sources said GSK was looking for a multiple of more than two times sales, suggesting a price of at least $3.2 billion. GSK, which is being advised by Lazard, aims to find buyers by the end of 2014. GSK, Lundbeck, KKR and Norgine all declined to comment.
Brian McNamara to Join GSK as Head of Americas and Europe for Consumer Health Businesses
Oct 10 14
Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare.
GlaxoSmithKline plc Appoints Urs Rohner to its Board as Non-Executive Director, Effective January 1, 2015
Oct 3 14
GlaxoSmithKline plc announced the appointment of Mr. Urs Rohner to its Board as a Non-Executive Director, effective January 1, 2015. On appointment, Mr. Rohner will also become a member of GSK's Remuneration Committee. Mr. Rohner is currently Chairman of Credit Suisse Group AG. Mr. Rohner was appointed Chairman of Credit Suisse in 2011 following a number of senior positions at the company including General Counsel and Chief Operating Officer.
GlaxoSmithKline Announces Results from Phase III Tafinlar Study in BRAF V600E-Mutant Metastatic Melanoma
Oct 1 14
GlaxoSmithKline has announced updated results from the Phase III BREAK-3 trial showing that 45% of patients with BRAF V600E-mutant metastatic melanoma receiving treatment with dabrafenib (Tafinlar) were alive at two years as opposed to 32% of patients receiving treatment with dacarbazine (DTIC). The company noted that 59% patients in the DTIC arm whose disease progressed consequently received treatment with dabrafenib; these patients were included in the results for the DTIC control arm. The median overall survival (OS) at the planned two-year follow up was 20.0 months for the dabrafenib versus 15.6 months for the DTIC arm. The company presented data at the European Society for Medical Oncology 2014 Congress in Spain.