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Glaxo's HIV Division in deal to treat millions in Africa.
GlaxoSmithKline's HIV drug business (ViiV Healthcare) has agreed a deal with the Governemnt of Botswana to roll out a treatment for millions living with the virus as part of a national health plan. Dolutegravir ( brand name Tivicay) wil be made available to al Botswanan's newly diagnosed via the "Treat All" programme. 70% ofthe global population infected with HIV live in Sub-Saharan Africa.
BHS Shambles rolls on. Green looks to escape Pension Mire
Discussions are ongoing betwenn Green and the Pension Protection Fund (PPF) to come up with a plan to restructure the Company Pension Scheme, currently £571M in deficit. Green is due to appear before a parliamentary enquiry to explain the sale of the business to three times bankrupt Dominic Chappell for £1. BHS is now in administration with 11,000 jobs at risk across 164 stores. 20,000 pension fund members are set to be transferred to the PPF with a possible loss of circa 10% of their benefits.
Sainsbury's sales to slide again
Sainsbury's is expected to announce a fall in like for like 1st quarter sales of around 1.4% as questions mount over the retail giant's £1.4 bn takeover of Argos. The deal, agreed in April, is under review by the Competition and Markets Authority (CMA). The CMA could clear the deal soon, but is likely to ask for a more detailed analysis.
Quotes of the month
Computers make very fast, very accurate mistakes ( Anon)
A professional is someone who can do his best work when he doesn't feel like it ( Alistair Cooke, media personality )
By working faithfully 8 hours a day, you may eventually become the boss and work 12 hours per day.( Robert Frost)