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

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.

Hear Hear!

i stand corrected..BB

Galapagos Identifies New Candidate Drug For Arthritis

BRUSSELS (Dow Jones)
Belgian drug discovery company Galapagos NV (GLPG.BT) Monday said it has successfully identified a third candidate drug in its arthritis alliance with GlaxoSmithKline (GSK). The company also reached milestones for other compounds in the alliance, which trigger cash payments totaling EUR5.7 million to Galapagos.

MAIN FACTS:

-This latest preclinical candidate is a small molecule that meets all the chemical and biological criteria set by GSK for a potential new medicine. Galapagos developed the candidate against a novel drug target from its proprietary platform. Galapagos will now start scale-up chemistry and comprehensive safety evaluation, with the aim to initiate Phase I clinical trials early 2011.

We know this paragraph.
The US Food and Drug Administration is reviewing data on possible heart risks with GlaxoSmithKline Plc's diabetes drug Avandia but has not reached any new conclusions, the agency said on Monday.

But I didn't know this (Did I miss it earlier).
The FDA will hold a public meeting in July 2010 to discuss the risks and benefits of the drug, but said in the meantime doctors and patients should continue to use Avandia as directed.

So Avandia is in limbo till at least July.
All the evidence for and against is out there so why the 5 month delay.

Jobs-worthies, justifying their existence!