MOODY'S DOWNGRADES BRITISH PHARMACEUTICAL COMPANY, GLAXOSMITHKLINE ... OUTLOOK NEGATIVE
July 29, 2013 by CBNews.com
LONDON U.S. ratings agency Moody's Investors Service has downgraded its outlook for GlaxoSmithKline (GSK) from stable to negative. However, the service said Monday that it had kept its long-term A1 rating for the British pharmaceutical company and its subsidiaries unchanged.
China bars GlaxoSmithKline finance director Steve Nechelpecht from leaving country amid bribery investigations China pursues Glaxo for bribery Moody's said in a statement that GSK's outlook was hurt in part by the debt-financed acquisition of Human Genome Sciences Inc., a U.S.-based biopharmaceutical corporation; legal settlements related to past investigations in the United States and product liability cases as well as large share buybacks. Moody's said the ongoing investigation of alleged bribery by GSK employees in China was not the trigger for the change in outlook.
Monday, 29 July 2013
MOODY'S DOWNGRADES BRITISH PHARMACEUTICAL COMPANY, GLAXOSMITHKLINE ... OUTLOOK NEGATIVE
Posted on 10:05 by Unknown
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