Sales boost for drugs giant GlaxoSmithKline October 28, 2005 Drugs giants GlaxoSmithKline and AstraZeneca unveiled big rises in sales yesterday with demand for key drugs soaring. GlaxoSmithKline, the larger of the two, said sales of its asthma product Advair and Avandia for diabetes increased 20 per cent and 22 per cent respectively. The British company, whose market capitalisation is £83bn, has seen sales in [...]
Smith & Nephew hit by rejection October 28, 2005 Europe’s largest seller of orthopaedic devices saw its shares tumble to a two-year low after it abandoned producing a key leg ulcer treatment when America turned it down, but its sales are up. Smith & Nephew has abandoned production of a key leg ulcer treatment after it failed to win approval for the American market. [...]
Killing the cure October 28, 2005 Some say British drugs companies should be able to profit in order to reinvest in newer drugs for the greater good. Some say their profits come on the back of scientific fraud. It is perhaps one of the great puzzles of British business. As a nation we spend less on medicines than our European neighbours, [...]
Communisis in new talks of a takeover October 28, 2005 Printing company Communisis yesterday confirmed that it was in its second set of takeover talks this year. The Leeds-based group said the discussions are at an early stage with what it described as “a small number of other parties”. But, the group said, “it is far from certain that they will lead to an offer [...]
Anglo investors share $1bn return October 27, 2005 The world’s third-largest mining company Anglo American revealed a plan yesterday to return $1bn (£560m) to investors in 2006. CEO Tony Trahar said: “Through a series of measures we are creating a more focused mining group.” As part of the wide-ranging review Anglo is to cut its 51 per cent stake in gold producer AngloGold [...]
Rentokil to relocate October 26, 2005 Rentokil Initial is abandoning its rural lair for central London, a habitat thought to be more suited to the royal ratcatcher. Fresh from its tussle for control with celebrity businessman Sir Gerry Robinson, the world’s largest pest-controller is to relocate from rural Surrey to new offices in Belgrave House, next to Victoria railway station. Rentokil [...]
‘No talks’ at Whitbread October 26, 2005 The wind was knocked out of Whitbread’s sails yesterday after chief executive Alan Parker moved to quieten the takeover talk that has buoyed its shares. The leisure group was one of the biggest fallers of the day after Parker said there had been “no talks” with private or trade buyers about selling off any of [...]
BP weathers storm havoc October 26, 2005 Oil giant BP’s third-quarter rise in underlying profit was largely unaffected by summer hurricane damage in America, leaping 27.5 per cent, the company revealed yesterday. The company’s underlying profit, driven by high barrel prices and strong refining margins, rose to $5.33bn (£2.98bn). The company said it owed its strong underlying performance to “high but volatile” [...]
It’s Ken Again October 21, 2005 He is 74 but Ken Morrison is in no mood to slow down and take it easy. During the span of a career in the City a businessman usually plays the role of hero and villain. Sir Ken Morrison was typecast as the former until he acquired Safeway a year ago. In 2001 when it [...]
BHP to boost production October 21, 2005 BHP Billiton, the world’s largest mining company, will invest $1.3bn (£735m) to boost iron-ore production in western Australia in the face of rising demand by Asian markets led by China. The move comes just 24 hours after Rio Tinto said it would also commit $1.35bn to increase the iron-ore production of its mines in western [...]