GSK receives FDA approval for raxibacumab anti-toxin GlaxoSmithKline announced that the U.S. FDA has approved raxibacumab for the treatment of adult and pediatric patients with inhalational anthrax due to Bacillus anthracis in combination with appropriate antibacterial drugs and for prophylaxis of inhalational anthrax when alternative therapies are not available or are not appropriate. Raxibacumab is the first monoclonal anti-toxin to be approved for inhalational anthrax. Raxibacumab is not approved or licensed in Europe and currently is not approved in other parts of the world for the treatment or prophylaxis of patients with inhalational anthrax. Raxibacumab was discovered and developed by Human Genome Sciences in conjunction with the Biomedical Advanced Research and Development Authority of the Office of the Assistant Secretary for Preparedness and Response, U.S. Department of Health and Human Services.
GlaxoSmithKline downgraded to Underperform from Neutral at BofA/Merrill BofA/Merrill downgraded GlaxoSmithKline to Underperform citing a lack of pipeline catalysts and its belief the European pharma sector is close to fair value.