GLAXOSMITHKLINE

GlaxoSmithKline will record a legal charge of 2.2 billion pounds ($3.4 billion) for the fourth quarter, effectively wiping out its profit, as it settles further claims related to Avandia and sales practices.

Novartis AG wrapped up its long-awaited buyout of the remainder of U.S.-listed eyecare group Alcon Inc for $12.9 billion, after sweetening its original offer with cash.

The top pre-market NASDAQ stock market losers are: LTX-Credence, BroadSoft, Cninsure, YRC Worldwide, Human Genome Sciences, Celgene, Identive Group, Randgold Resources, Qiagen, and Corinthian Colleges.

The top after-market NASDAQ stock market gainers are: Nova Measuring Instruments, China Biologic Products, MannKind, GT Solar International, and DDI. The top after-market NASDAQ stock market losers are: SuperMedia, Human Genome Sciences, China Electric Motor, Neutral Tandem, and ArQule.

Oppenheimer has initiated coverage on China's ShangPharma with an outperform rating and price target of $17, saying the company is well positioned to benefit from the rising Chinese clinical/contract research organization (CRO) industry.

The top pre-market NASDAQ stock market losers are: RINO International, Bank of Kentucky Financial, Human Genome Sciences, EDAP TMS, Patterson-UTI Energy, JA Solar Holdings, GT Solar International, Syntel, Acergy, and Sina.

The top after-market NASDAQ stock market gainers were: Human Genome Sciences, Immunomedics, NII Holdings, IMAX, Central European Distribution, BSD Medical, JetBlue Airways, Penn National Gaming, SEI Investments, and Dendreon.

The numbers were so bad that Dr. Stephen Hoffman did not even want to say them out loud.

It wasn't what you would call a casual get-together.

A recent study indicates that millions of low- and middle-income people in most part of the globe will go down below poverty line for buying expensive yet essential medicines.

Tens of millions of people in low and middle income countries would be pushed below the poverty line by buying common but vital medicines which are already unaffordable to hundreds of millions more, a study has found.

Tens of millions of people in low and middle income countries would be pushed below the poverty line by buying common but vital medicines which are already unaffordable to hundreds of millions more, a study has found.

Giving patients with a history of heart attacks a margarine enriched with omega-3 oils in addition to standard drugs appears to make no difference to their chances of having a repeat attack.

Europe's drug regulator is reviewing the safety of GlaxoSmithKline's Pandemrix flu vaccine, which has been given to more than 30 million people in Europe, to investigate possible links to a sleep disorder.

GlaxoSmithKline's diabetes drug Avandia was no riskier to the heart than a rival, U.S. researchers said on Tuesday, a finding that contradicts earlier studies and adds new fodder to the roiling debate over the drug's safety.

Sanofi-Aventis investors have urged the drugmaker not to pay more than about $19 billion to land Genzyme, some $10 a share below the price wanted by the U.S. biotech group.

Sanofi-Aventis chief Chris Viehbacher should avoid paying much more than about $70 per share, or a total of $19 billion, to land U.S. biotech group Genzyme, shareholders in the French group say.

Biotechnology company Genzyme Corp is weighing an informal takeover approach from France's Sanofi-Aventis but is not looking to sell the company, a source familiar with the situation said on Monday.

Of two potential suitors for biotech Genzyme , industry insiders say Sanofi-Aventis is a far more likely buyer than GlaxoSmithKline , which already has a presence in rare diseases.

Stock index futures pointed to a slightly lower open on Wall Street on Monday, as investors take a breather following last week's strong gains sparked by a flurry of reassuring company earnings.

Stock index futures pointed to a slightly lower open on Wall Street on Monday, as investors take a breather following last week's strong gains sparked by a flurry of reassuring company earnings.