glaxosmithkline plc-spon adr (GSK) Key Developments
Clovis Oncology and GlaxoSmithKline Enter into Clinical Trial Collaboration
Nov 17 14
Clovis Oncology (CLVS) and GlaxoSmithKline (GSK) announced that they have entered into a clinical trial collaboration to evaluate a novel combination therapy targeting mutant epidermal growth factor receptor (EGFR) non-small cell lung cancer (NSCLC). The Phase 1/2 trial of rociletinib given in combination with trametinib is planned to start in the first half of 2015. The trial is designed to assess the safety and activity of the combination in patients with EGFR mutant NSCLC who were previously treated with an EGFR tyrosine kinase inhibitor (TKI). This clinical trial is designed to test the hypothesis that the combination of two oral drugs targeting different cellular growth pathways, both often active in EGFR mutant NSCLC, will lead to augmented clinical benefit.
Several Companies Reportedly Eyes Mature Drugs of GlaxoSmithKline
Nov 14 14
Apollo Global Management, LLC (NYSE:APO) and other bidders intend to make an offer for all of the mature drugs of GlaxoSmithKline plc (LSE:GSK). The deal could be values at more than $3 billion, according to sources with direct knowledge of the situation. Apollo plans to acquire all of the products for sale while other suitors are only interested in purchasing regional businesses. The final offers will be accepted by GSK by early next week, the sources told Reuters. Other bidders include H. Lundbeck A/S (CPSE:LUN) and Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) which has teamed up with manufacturer Norgine Pharmaceuticals Limited. Lupin Limited (NSE:LUPIN) was also interested in the auction, but at this point it is unclear if it is still taking part. GSK has appointed with Lazard Ltd to handle the auction and is hoping to find a buyer before the end of 2014. M&A Navigator added that spokesperson for GSK declined to comment. Representatives for Apollo, Norgine and Lundbeck did not comment when reached by Reuters, while KKR was unavailable for comment.
Apollo Global Reportedly Seeks To Acquire GSK's Mature Drugs
Nov 13 14
Apollo Global Management, LLC (NYSE:APO) is planning to bid for allGlaxoSmithKline plc (LSE:GSK) mature drugs, joining an auction expected to value the business at more than $3 billion, Reuters reproted citing four people familiar with the process. The private equity firm, run by Leon Black, could change the dynamic of the auction because it is ready to buy all the products on offer, while other potential buyers are looking to acquire only certain regional businesses. Apollo, GSK declined to comment.
GlaxoSmithKline plc Presents at UBS European Conference 2014, Nov-12-2014 10:00 AM
Nov 8 14
GlaxoSmithKline plc Presents at UBS European Conference 2014, Nov-12-2014 10:00 AM. Venue: London, United Kingdom. Speakers: Simon Dingemans, Chief Financial Officer, Executive Director, Member of Corporate Administration & Transactions Committee and Member of Finance Committee.
GlaxoSmithKline Opens Non-Trading Branch in Cork
Nov 8 14
GlaxoSmithKline opened a non-trading branch in Cork into which it transferred $9.8 billion (EUR 7.9 billion) in assets as part of a Luxembourg tax structure. The Irish branch immediately loaned the assets back to its parent in Luxembourg in return for an interest-free loan. This meant that the $9.8 billion no longer featured when the Luxembourg company's wealth tax bill was being calculated by tax authorities in Luxembourg.