Glaxo Avandia FDA Adversity Prompts Doubts of Revenue, Share Resurgence

(Bloomberg) -- GlaxoSmithKline Plc convinced a U.S.
regulatory panel this week to keep its best-selling diabetes
drug, Avandia, on the market. Now comes the hard part: persuading
doctors to use a medicine linked to heart attacks.

The U.S. Food and Drug Administration committee of advisers
said this week that the diabetes pill should carry new warnings
about cardiovascular risks. Glaxo shares had their biggest gain
in two years yesterday after the advisory panel decided not to
recommend the withdrawal of Avandia, which brought in $3.3
billion in 2006 for the London-based company, Europe's largest
drugmaker.


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European Stocks Rise, Led by Aviva; Lloyds, Ryanair, GlaxoSmithKline Rally

(Bloomberg) -- European stocks rebounded from a
five-day plunge on waning concern that the U.S. subprime-credit
crisis will damp economic growth.

Aviva Plc, HSBC Holdings Plc and UBS AG paced gains by
financial stocks. Lloyds TSB Group Plc rallied on earnings that
topped analysts' estimates. Ryanair Holdings Plc and MAN AG led
airline and auto stocks higher after raising profit forecasts.
GlaxoSmithKline Plc jumped the most in two years after a panel of
doctors said its Avandia drug should remain on the U.S. market.


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European Stocks Advance, Led By ABN Amro, Banks; Saipem, Technip Decline

(Bloomberg) -- European stocks rose, led by ABN Amro
Holding NV after Royal Bank of Scotland Group Plc sweetened its
71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. BT Group Plc, the
U.K.'s largest phone company, and drugmaker GlaxoSmithKline Plc
climbed after brokerages lifted their recommendations on the
shares.


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