Healthcare Business Review: Glaxo DIVESTS Older Drugs, GNC CLOSES Offer
GlaxoSmithKline (NYSE:GSK) will divest 25 older drugs marketed in Australia to South Africa’s Aspen Pharmacare for £172 million, as a part of its strategy to sell off non-core treatments. The transaction will follow three divestitures within GSK’s non-prescription unit over the past several months.
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GNC Holdings, Inc. (NYSE:GNC) has closed its underwritten offering of 10 million shares of its Class A common stock that was announced last Thursday. At the same time, the firm also says that it’s completed the buyback of 6 million shares of the stock directly from Ares in a private, non-underwritten purchase.
Gilead Sciences, Inc. (NASDAQ:GILD) waits for an FDA okay of its Quad on August 27th , but Deutsche Bank says that the United States HIV treatment guidelines are already adding the drug. In addition, the analyst believes that consensus expectations are undervaluing its potential, and that its intro will be a surprise on the positive side. Deutsche elevated its price target from $65 to $68, and keeps its Buy as well.
New takeover chatter drive shares of Dendreon Corporation (NASDAQ:DNDN) higher, along with an amount of short covering.
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