A drug used to treat diabetes has been withdrawn by the Irish Medicines Board after a warning from the EU.

A SUPPORT group for diabetes patients has advised people with the disease to keep taking a controversial popular drug despite concerns it can increase the risk of heart attacks.

The FTSE 100 Index remained in positive territory for the seventh straight session today, but stocks trod water as US markets remained shut for the Labor Day holiday.

Drugs giant Glaxosmithkline is set to axe thousands of jobs when it announces its full-year results this week, it was reported today.

The new head of GlaxoSmithKline today said the drug giant must change to survive the growing threat of generic competition for its leading products.

The FTSE 100 Index overcame losses for major banks to finish in positive territory today after a volatile session on the London market.

GlaxoSmithKline today said first quarter profits dropped 13% after results showed a sharp fall in sales for under-fire diabetes treatment Avandia.

Drug maker GlaxoSmithKline today warned of job losses as it announced cost-cutting plans to offset falling sales of diabetes treatment Avandia.

The London market staged a rally today as investors shrugged off recent economic concerns to pick up bargains following the recent heavy losses.

Drug maker GlaxoSmithKline today posted better than expected results, despite sales of its diabetes treatment Avandia falling more than 20% after health scares.

The London market took a roller-coaster ride today as caution on Wall Street muted early confidence over blue-chip stocks.

London's blue-chips dived into the red today as weak trading on Wall Street and fears over interest rates sparked a sell-off.

Some of London’s biggest stocks were in focus today as the FTSE 100 Index made strong progress after the holiday weekend.

Food to fashion retailer Marks & Spencer led the blue chip fallers on the London market today as the group's cautious outlook took the shine off strong profits.

The London market was in retreat today amid negative sentiment over major blue-chips including Marks & Spencer and GlaxoSmithKline.

The London market closed in negative territory today despite a strong showing from mining and oil stocks.

GLAXOSMITHKLINE met forecasts with a 16% rise in 2006 profit yesterday and said a dip in growth this year as some old products go off patent would be less than feared.

A strong performance in the US helped GlaxoSmithKline bank annual profits of £7.8bn (€11.73bn) today as sales of its asthma and diabetes drugs continued to rise.

British Energy led the London market into the red today as a warning over its output levels added to fears of a weak start to trading in New York.

British drug maker GlaxoSmithKline said today it was giving up a Chinese patent for a component of its popular diabetes drug Avandia following a challenge by three Chinese competitors.

DRUGS giant GlaxoSmithKline posted a 17% fall in half-year profits yesterday as it continued to suffer from the impact of generic competition.

Pharmaceuticals giant GlaxoSmithKline posted a 17% fall in half-year profits today as it continued to suffer from the impact of generic competition.

Analysts are expecting few surprises when GlaxoSmithKline reveals its first quarter results tomorrow.

The growing demand for drugs to fight diabetes and depression has helped the newly merged pharmaceutical company GlaxoSmithkline get off to a strong start.