Fears about the introduction of price controls on drugs in the US have pushed the FTSE 100 index down this morning, as such a move is likely to have an impact of the profitability of GlaxoSmithKline.
The FTSE 100 index is down 18 points or 0.3% to 6,212.6, dragged down in the main by GlaxoSmithKline, Europe's biggest pharmaceutical firm, which is down 20p, or1.44% to £13.66 and AstraZeneca, its closest rival, which also dropped 78p or 2.5% to £29.97 as the Senate is likely to cut the price of medicare in the US. British Airways has also slipped on an oil price increase, as the price of a barrel of crude jumped 2.2% to $61.16 a barrel in New York yesterday because US officials say diesel availability has dropped. It share value is down 4p or 0.87% to 454p. In contrast, however, mobile ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
