there seems to be some heavy resistance around these level with a lot of potential upside.

LONDON (SHARECAST) - The Centers for Disease Control and Prevention (CDC) issued new guidelines for the use of antivirals in the treatment of flu on Tuesday, which should boost revenues drugs giant GlaxoSmithKline (GSK) receives from its Relenza flu treatment.

Broker Panmure Gordon is forecasting Relenza revenues of 700m for 2009, and expects this figure to rise to 1bn in 2010 before sliding back towards 250m per annum from 2011 onwards.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=2995520

An AFX worth reporting .

Japan's health ministry is set to buy enough H1N1 flu vaccine for nearly 50 million people from British drug maker GlaxoSmithKline and Switzerland's Novartis, a Japanese newspaper reported on Friday.
The country can produce enough vaccine for about 18 million people but the government hopes to push that figure close to 70 million with the added imports, the Asahi newspaper said.
The government will spend about 100 billion yen ($1.1 billion) on the Glaxo vaccine.

Just closed my position from a couple of months ago - so other holders should expect a sharp rise now :-)

GlaxoSmithKline update: Government orders for pandemic (H1N1) 2009 vaccine

GSK is committed to supporting governments and health authorities around the world respond to the pandemic (H1N1) 2009 influenza strain.

The company today provided an update on orders received for its pandemic (H1N1) adjuvanted vaccine.

On the 4th August, GSK confirmed that it had contracts in place to supply 291 million doses of the vaccine and had a variety of agreements in place with the US Government to supply pandemic products worth $250 million.

Since that date, 22 government orders have been agreed to supply a further 149 million doses of the vaccine. This now brings the total number of doses ordered for GSK's pandemic vaccines to 440 million. Discussions continue with governments for further supplies.

First supplies of the vaccine will be shipped to governments during the week commencing 5th October. Shipments of the vaccine will be delivered in both the fourth quarter of 2009 and the first half of 2010.

The vaccine deliveries are contingent on a number of factors including government import/export regulations, regulatory approvals, approvals for outsourced packaging and filling as well as testing required by reference laboratories.

GSK will continue to provide regular updates to governments relating to delivery schedules to support them in planning their vaccination programmes.

Further information on GSK's development of vaccines to protect against pandemic (H1N1) 2009, including explanation of the development process and background information on adjuvants is available on: http://www.gsk.com/media/pandemic-flu.htm

A 16mill buy (well it is recorded as such, so I hope it is) gone through during the auction. Thats around 200mill, big money for anyone. No doubt we will see a RNS within a couple of days as to which institution was involved.
Someone know something we don't?

Hopefully not Buffett cashing in

Via AFX.

WASHINGTON, Nov 25 (Reuters) - The U.S. Food and Drug Administration on Wednesday:
SAID THE AGENCY HAD CANCELED ITS DECEMBER 16 ADVISORY PANEL REVIEW OF GLAXOSMITHKLINE PLC'S BREAST CANCER DRUG TYKERB
SAID IT CANCELED THE PANEL'S REVIEW OF A NEW USE FOR TYKERB BECAUSE ISSUES IN QUESTION "HAVE BEEN RESOLVED"

POSTED THE ANNOUNCEMENT ON ITS WEBSITE AT HTTP://WWW.FDA.GOV/ADVISORYCOMMITTEES/COMMITTEESMEETINGMATERIALS/DRUGS/ONCOLOGICDRUGSADVISORYCOMMITTEE/UCM192036.HTM

FDA HAS SAID THE COMPANY WAS PROPOSING NEW USE OF THE DRUG IN COMBINATION WITH AN AROMATASE INHIBITOR FOR THE TREATMENT OF HORMONE SENSITIVE ADVANCED OR METASTATIC BREAST CANCER (Company news desk in Washington; +1 202 898 8400,

Final Results.



Summary

Full year sales growth of 3% with successful delivery of diversification strategy

Consumer Healthcare (+7%), Emerging Markets (+20%), Japan (+22%)

Sales from 'white pill/western markets': 30% of 2009 full year sales (36% in 2008)

Continued new product delivery

Total of 12 approvals and 11 new product filings in 2009

6 NME/vaccine launch opportunities in next 18 months

Sustained R&D productivity with ~30 assets in late-stage development

New R&D model fully operational

Further actions to improve R&D returns

Proposed reduction to R&D infrastructure

Neuroscience research to focus on neurodegeneration and neuroinflammation; proposed cessation of discovery research in selected areas including depression and pain

New rare diseases unit to be established

Restructuring programme expanded; additional savings of 500 million by 2012

R&D (50%); SG&A (50%)

70% of savings to enhance profitability; 30% to be reinvested

Expected additional charges of 0.9 billion

2009 EPS before major restructuring of 121.2p, includes:

Q4 gain relating to formation of ViiV Healthcare of 296 million (4.2p of EPS)

Q4 legal charge 392 million (5.6p of EPS), with increased provisions for existing cases

Increased 2009 dividend of 61p, up 7% (Q4: 18p, up 6%)

18p is the important bit

I bought back in this morning @1208. Looking for limited downside and a 5% return with dividend increase.

Director Buys.

Well MR Witty and Bicknell appear confident.

Excellent cash generation encourages me to believe that the dividend is safe for the foreseeable future and sure as hell beats bank deposit rates. Have held for many years in PEP/ISA, occasionally top slicing or adding some more and still I believe a solid long term performer, but always DYOR.

Excellent write up in The Sunday Telegraph, which includes an interview with Andrew Witty.

GlaxoSmithKline to shed 380 research jobs in Harlow

Ex div today?

Yes!

Business newswire obviously have their ear to the ground.

Pharmaceutical heavyweight GlaxoSmithKline was a major casualty, down 17p at 1,201.5p after yesterday's announcement that it plans to close a research unit in Essex.

No mention of the share being ex div today, which to me was the real reason.

8p div i think, not worth the drop in sp which can happen. was lucky with IMT.

BB - 18p Dividend.

The drop was about the same percentage as the dividend of 18p, so yesterdays loss meant a static price. As the yield on the total years divi is 5.06%, one of the best in the market, coupled with the strength of the company and its future prospects, I consider Glaxo to be one of the safest (including the div) companies on the market.