GlaxoSmithKline Raises Stakes in India & Nigeria, Sarepta’s New Collaboration: Healthcare Business Recap

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

The United Kingdom’s largest drug maker, GlaxoSmithKline (NYSE:GSK), intends to shell out more than $1 billion so as to raise stakes in its Indian and Nigerian consumer healthcare units, to broaden its presence in emerging markets and non-prescription consumer health. The firm is currently shrinking its reliance on the traditional prescription drug markets in Western economies where sales are stalling.

On Monday Cytokinetics, Incorporated (NASDAQ:CYTK) reported positive data from a recently completed Phase IIa Evidence of Effect clinical trial of tirasemtiv in patients suffering from generalized myasthenia gravis. Tirasemtiv selectively activates the fast skeletal muscle troponin complex by boosting its sensitivity to calcium, thus increasing skeletal muscle force in response to neuronal input and deterring the onset and reducing the degree of muscle fatigue.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Shares of Sarepta Therapeutics (NASDAQ:SRPT) moved up on the day on news of a collaboration for the development of an additional exon-skipping drug targeting exon 53, which marks its fourth drug in development, which supports Sarepta’s broad-based program for the treatment of Duchenne muscular dystrophy. The firm is working with the University College London scientist Professor Francesco Muntoni, MD, the Dubowitz Neuromuscular Centre, and the Institute of Child Health, along with other scientists from the European Union and the United States.

The clinical-stage pharmaceutical firm EntreMed’s (NASDAQ:ENMD) shares gained almost 25 percent on the day, as a release reported the publication of favorable results from a preclinical evaluation in breast cancer of its oral Aurora A/angiogenic kinase inhibitor, ENMD-2076. The company is developing targeted therapeutics for the treatment of cancer.

Don’t Miss: Will This Purchase Boost Sales for GlaxoSmithKline?

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business