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

Glaxo
ING Wholesale Banking has rated Europe's largest drugmaker a buy in new coverage saying the company may benefit from the appointment of Andrew Witty as chief executive officer.

GlaxoSmithKline Plc, Europe's largest drugmaker, and Pfizer Inc. won a federal appeals court ruling shielding them from liability in lawsuits over the adequacy of warning labels on antidepressants approved by U.S. regulators.

For full info see http://www.bloomberg.com/apps/news?pid=20601100&sid=adakuLNpxXQo&refer=germany

Details about half way down page.

From RTT News.

RTT News said Tuesday that the U.S. Food and Drug Administration has approved their bowel drug Entereg to help patients regain gastrointestinal (GI) function earlier following bowel resection surgery.
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=611193%20&Category=Breaking%20News

Bloomberg.

Europe's largest drugmaker (gsk) will sell more than 4 billion pounds of its top-selling Advair asthma inhaler, outgoing Chief Executive Officer Jean-Pierre Garnier told shareholders at the company's annual meeting.

Genmab A/S (OMX: GEN) and GlaxoSmithKline (LSE and NYSE: GSK) announced today positive top-line results from an interim analysis of the Phase III pivotal study evaluating ofatumumab (HuMax-CD20(R)) to treat two groups of chronic lymphocytic leukemia (CLL) patients with high unmet medical need. At the interim analysis, the study met the primary endpoint in both populations and the results from the secondary endpoints also support the primary endpoint.

Should put the SP up a bit on opening.

Goes to show.
A real nice result re ofatumumab (multi billions) with figures twice what was required for minimum level acceptance, yet SP opens lower.
Yet another example of the global drag down of the markets bearing little reality (people will always need drugs) link to any individual company.
DOW well down, everything down.

Generic epilepsy drugs not interchangeable
by Michael Woodhead.
Patients with well-controlled epilepsy should not be switched to generic drugs because they may face loss of seizure control even with supposedly bio equivalent drugs, US neurologists say.
The Survey was sponsored by GSK so it does not have quite the sway of a completely independent one, but if it is excepted it could change the way that some generic drugs are looked at. Presumably similar surveys are conducted re other generic drugs effectiveness against none generic.
If not no doubt the big drug conglomerates will be jumping on the bandwagon, although as we all know with generic drugs being so much cheaper many can only afford such drugs.
Interesting all the same.
http://www.6minutes.com.au/articles/z1/view.asp?id=202221

Whilst I know this settlement is old news it is interesting to see just how expensive such legal actions are.

The conclusion will leave other biotechs worrying whether, in the event of any dispute, license agreements with big pharma are worth the paper on which they are written. In the case of Biota, which found itself looking at a potential legal bill of A$100 million to see the case through to a trial, the answer is no.

See following for full article.
http://www.bioworld.com/servlet/com.accumedia.web.Dispatcher?next=bioWorldHeadlines_article&forceid=48435

Back at 10 support will it hold?

Although not brilliant results to say the least, in todays climate any increase of EPS and dividend over what was expected is a bonus. It looks like GLAXO are being looked at as a defensive share again like it used to be in generally troubles financial times.
The main thing is there were NO shocks, so quietly happy with GSK.

At last 1 costly court case out of the way, with no doubt the only ones to realy gain are the lawyers.

Merix Pharmaceutical Corp. Settles False Advertising Litigation With GlaxoSmithKline.http://www.marketwatch.com/news/story/merix-pharmaceutical-corp-settles-false/story.aspx?guid=%7BD768B1F9-6C12-4206-A9BB-DF0970645BAB%7D&dist=hppr

Hope they are right.

URCH Publishing: GlaxoSmithKline Will Overtake Pfizer to Become World's Largest Pharmaceutical Company by 2012.
Thought of sending for Pharmaceutical Market Trends, 2008 - 2012 but at 1350 decided a tad too expensive.

For full article http://www.pr-inside.com/urch-publishing-glaxosmithkline-will-r905661.htm

Approaching 10 again! Slightly tempted

Can't decide so won't
2:08GMT 21Nov2008-European pharmas suffers as risk appetite inches back
------------------------------------------------------------------------
Shares in European big cap pharma fall as investors see value in riskier
assets.
"What you are seeing now is that people may possibly move up the risk curve
a little bit in which case you see outflows out of the pharma sector," says an
analyst at a major bank. "Look at the chemicals sector that's reasonably strong
today."
"In relative terms pharma is not a cheap sector anymore if you look at one
year forward P/E relative or something like that. I think that is the sort of
macro trends we are looking at I don't think we are really seeing anything stock
specific.
Another analyst agrees, saying: "Maybe there's a bit of rotation, maybe
other sectors have become a bit too cheap relatively speaking".
He adds that with clients seeking to sell their stakes in funds, thin
volumes could suggest that clients may be asking fund managers are being forced
to selling off big cap holdings which often include pharmaceutical stocks.
At 12:32 GMT, Sanofi-Aventis was down 5.5 percent, Novartis was down 5.9
percent, Roche was down 5.4 percent, AstraZeneca was down 4.3 percent and
GlaxoSmithKline was down 3.1 percent.

Can't decide so won't
2:08GMT 21Nov2008-European pharmas suffers as risk appetite inches back
------------------------------------------------------------------------
Shares in European big cap pharma fall as investors see value in riskier
assets.
"What you are seeing now is that people may possibly move up the risk curve
a little bit in which case you see outflows out of the pharma sector," says an
analyst at a major bank. "Look at the chemicals sector that's reasonably strong
today."
"In relative terms pharma is not a cheap sector anymore if you look at one
year forward P/E relative or something like that. I think that is the sort of
macro trends we are looking at I don't think we are really seeing anything stock
specific.
Another analyst agrees, saying: "Maybe there's a bit of rotation, maybe
other sectors have become a bit too cheap relatively speaking".
He adds that with clients seeking to sell their stakes in funds, thin
volumes could suggest that clients may be asking fund managers are being forced
to selling off big cap holdings which often include pharmaceutical stocks.
At 12:32 GMT, Sanofi-Aventis was down 5.5 percent, Novartis was down 5.9
percent, Roche was down 5.4 percent, AstraZeneca was down 4.3 percent and
GlaxoSmithKline was down 3.1 percent.

U.S. flu shows resistance to flu drug, CDC says.

A common strain of influenza circulating in the United States this winter is resistant to Tamiflu, the most popular drug used to treat it, federal health officials said on Friday. Tamiflu is made by Roche AG and Gilead Sciences Inc.
The USA don't use a lot of antiviral drugs. But Doctors have been advised to use either Relenza, or Zanamivir produced by Glaxo.
No doubt a similar finding would result in a UK testing project. If it does, I understand that as we do use more antiviral drugs (please correct me if I am wrong, as not a medical expert by any means) it would mean a far higher use of Zanamivir.

Just can't quite crack 13 resistance, good Sterling hedge though with a divi

Hi Falcothou,

Nice to see someone post. I was beginning to think there was only you and me left.

With interest rates forever falling and guilts having problems, and possibly heading for worse (how long before government bonds do not look as much a guilt edged bet as they are intended to be) I feel that when punters start looking at the Stock Markets again with less negativity, companies such as GSK will be the first to attract investment.
GSK being a strong global company, with as you say a decent divi that is paying more than most bank connected investments, will be in the forefront of any uplift..

Hi Greekman ,
Very tranquil here. I have partially hedged with an AZN short as they don't seem to have the product stream that GSK does. The more cable weakens the stronger the pharms seem to get. Rogers seems to be anticipating parity!As you say Sterling in the bank is taking on a Zimbawean shape wonder if we will reach parity with Zim dollar!

With Gordon Browns record of selling gold at its bottom price just prior to the price rocketing, I would not be surprised if he declared that as the started to tumble he had bought the Zim Dollar by the bucket load.
Cant really think of any strategy, financial or otherwise that has proved positive by this government. Just hope when/if they decide to pump money into the country via purchasing collateral in companies, institution, shares and the like, they don't consider GSK. Now that would be a kiss of death.
Rant over.