MADRID, Sept 27 (Reuters) – Early results for a closely
watched cancer drug combination from AstraZeneca that
boosts the immune system suggest the cocktail is promising,
though limited patient numbers mean the data is far from
The British drugmaker, which fended off a $118 billion
takeover bid from Pfizer in May in part by talking up
its cancer drug prospects, has high hopes for the combination of
two experimental drugs known as MEDI4736 and tremelimumab.
Still plenty of smokers at #ESMO14 #cancer congress in Madrid – good for keeping oncologists busy and good for drug companies’ sales
LONDON (Reuters) – GlaxoSmithKline (GSK.L: Quote, Profile, Research, Stock Buzz) said on Thursday it had chosen Philip Hampton, who currently chairs Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz), as its next chairman.
Hampton will be taking the helm at Britain’s biggest drugmaker at a testing time. GSK was hit last week by a record $489 million fine in China for bribing doctors and has warned on profits in 2014 due to weak sales of its core respiratory drugs.
LONDON, Sept 24 (Reuters) – Drugmaker GlaxoSmithKline
will this week name Philip Hampton, who currently chairs
Royal Bank of Scotland, as its next chairman, a person
close to the process said on Wednesday.
Hampton is expected to join the GSK board as a non-executive
director late this year or early in 2015 and take over from
current chairman Chris Gent around the middle of next year.
LONDON/NEW YORK (Reuters) – The U.S. Treasury’s move to curb deals that allow U.S. companies to escape high taxes at home wiped a combined $12.3 billion off the shares of nearly a dozen companies on both sides of the Atlantic on Tuesday, as investors reacted to the surprisingly far-reaching action.
But it was unclear whether the tougher stance adopted by the Obama administration on “inversion” deals that allow companies to escape high U.S. taxes by reincorporating abroad, which followed a wave of public criticism, would end any of the handful of deals currently in the works.
LONDON (Reuters) – Shares in drugmakers AstraZeneca (AZN.L: Quote, Profile, Research, Stock Buzz) and Shire (SHP.L: Quote, Profile, Research, Stock Buzz) both fell more than 5 percent on Tuesday after the U.S. Treasury took steps to curb “inversion” deals that allow companies to escape high U.S. taxes by reincorporating abroad.
The move could jeopardize an agreed deal for AbbVie (ABBV.N: Quote, Profile, Research, Stock Buzz) to buy Shire for $55 billion and deter Pfizer (PFE.N: Quote, Profile, Research, Stock Buzz) from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May.