Stocks GlaxoSmithKline PLC

  • Quarterly earnings reports and new drug trial data were some of the catalysts behind the most actively traded stocks on Wednesday.

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    GlaxoSmithKline is rallying today after reporting that second quarter sales of its diabetes drug Avandia, fell 31% in the U.S. from the same time a year ago. And from the first quarter of this year to the second quarter, revenue in the U.S. from the blockbuster pill slid $120 million. So, why are investors buying the beaten-down stock?

  • GlaxoSmithKline more than doubled its share buyback programme to 12 billion pounds ($25billion) on Wednesday, boosting its shares even as sliding sales of diabetes drug Avandia held back second-quarter profit.

  • After a disappointing week for big pharma earnings, Merck and Schering-Plough start the second-half of the sector's reporting season with a bang. Both companies beat the Street on the top and bottom lines. Merck also raised its full-year earnings guidance to boot. And investors love it. Look at the huge move in the Dow component.

  • With a couple of exceptions the pharma earnings season has failed to impress Wall Street, so far. Take a look at the one week performance of the Amex Pharmaceutical Index versus the Dow. Next week there's no let-up. Right out of the gate on Monday morning Merck and Schering-Plough report.

  • GlaxoSmithKline said that its cervical cancer vaccine Cervarix received a positive opinion from the European Committee for Human Medicinal Products and will now be proposed for final approval by the European Commission.

  • Novartis cut its full-year results outlook as generic competition pressured sales of a key blood-pressure drug, and said U.S. regulators had delayed the approval process for an important cancer treatment.

  • The battle between two drug giants over the cervical cancer vaccine market is heating up. A study being published in the British medical journal, "The Lancet," says GlaxoSmithKline's shot called "Cervarix" may be different from Merck's  Gardasil.

  • GlaxoSmithKline's Avandia

    The huge auditorium at the McCormick Place Convention Center was packed to the rafters. It was standing room only in the 45-hundred seat theater, although the fire department wouldn't let people stand. The doctors, scientists, and educators at the American Diabetes Association's Annual Meeting came to see the rock stars of their world--Dr. Steven Nissen who wrote the controversial New England Journal of Medicine report questioning the safety of GlaxoSmithKline's Avandia and Dr. Phillip Home who wrote--also in NEJM--the subsequent interim analysis of a GSK-sponsored study that, so far, supports Avandia's safety.

  • Asco

    So, I'm back at the McCormick Convention Center in Chicago for the second time this month. We were here for ASCO--the cancer conference--at the beginning of June. But this trip is much different. Unlike ASCO, the American Diabetes Association which is holding its annual meeting here is letting us broadcast from inside the building! ASCO would not, has not and seems like never will let us work within the huge halls. A spokesman claims we'd cause a "media circus" and that the financial media threaten to compromise the "scientific integrity" of ASCO.

  • GlaxoSmithKline plans to launch five new cancer drugs by 2010, tapping into a $40 billion-a-year market that is growing by 20 percent annually, its research head said on Monday.

  • Gilead Sciences shares rose in aftermarket trading on Friday after the U.S. Food and Drug Administration approved the drugmaker's treatment for high blood pressure in the lungs.

  • Alli Diet Pills

    Today's the day! Wal-Mart starts selling the first FDA-approved, over-the-counter weightloss pill today. GlaxoSmithKline says Alli should be on drugstore and discount store shelves everywhere by tomorrow. Alli is the diet pill that can have embarrassing gastrointestinal side effects. Coincidentally, the launch occurs the day after an FDA Advisory Committee shut out Sanofi-Aventis' weightloss pill Zimulti.

  • GlaxoSmithKline faces a U.S. investor lawsuit claiming that Europe's biggest drugmaker misled shareholders about the safety of diabetes drug Avandia.

  • Shares in GlaxoSmithKline fell 0.4% as the British pharmaceutical giant came under fire for allegedly misleading its shareholders about safety concerns facing its diabetes drug Avandia.

  • GlaxoSmithKline faces a U.S. investor lawsuit claiming that Europe's biggest drugmaker misled shareholders about the safety of diabetes drug Avandia.

  • As Congress, the FDA and the drugmakers wrestle with what appear to be impending warnings about the safety of Avandia, investors are wrestling with estimates of the collateral damage to this multi-billion dollar GlaxoSmithKline franchise. Some say it's the next Vioxx and that investors have priced into the stock a high likelihood that GSK will eventually pull the drug from the market. Others compare it to what happened with Pfizer's painkiller Celebrex in the wake of the Vioxx withdrawal.

  • In the wake of ASCO (the American Society of Clinical Oncology's annual meeting) where Genentech reported mixed clinical trial results, the stock is trading at a new intra-day low...it's lowest level since May 2005. And in the wake of yesterday's hearing on Avandia where the stage may have been set for a black-box or severe safety warning being put on the diabetes drug's label, GlaxoSmithKline is actually trading up.

  • Shares of London-based pharmaceutical giant AstraZeneca made modest gains (down 0.9%), reversing a recent downward trend thanks to positive momentum generated by rival GlaxoSmithKline (down 0.7%).

  • Paul Brown, consumer healthcare advocate at the U.S. Public Interest Research Group, told CNBC’s “Morning Call” that the Food and Drug Administration’s post-market safety program is “broken.”