MARKET TALK: GSK Pharma +0.9%; Ignores Drug Trial Suspension

15th Jul 2010 04:56

0356 GMT [Dow Jones] GlaxoSmithKline Pharmaceuticals (500660.BY) +0.9% at INR2,100.00 despite parent GlaxoSmithKline PLC (GSK.LN) suspending testing of diabetes drug Avandia at Indian sites participating in global clinical trial. GSK PLC suspended trials after Indian government requested hold due to recent studies raising safety concerns. HDFC Securities' Ranjit Kapadia says that clinical trial services account for very small part of GSK Pharmaceuticals' income, thus suspension of trials by parent would not hurt financials. Volume low at 179 shares traded so far versus 2-week average quantity of 4,953 shares. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 14, 2010 23:56 ET (03:56 GMT)