United Kingdom of Great Britain & N. Ireland (Press Release) November 20, 2008 -- Investors are making a hasty retreat into defensive stocks such as tobacco companies like National Grid, Imperial tobacco, Severn Trent, all of which are on the whole largely unaffected by consumer spending. Glaxo could be a decent recovery play now that it is taking large strides to cutting costs after plummeting sales of its diabetes drug Avandia wiped $1 billion off revenues. It has recently signed some new deals, and is looking to boost growth areas like cancer drugs and vaccines, while at the same time reducing their efforts in shrinking markets such as chronic diseases.
United Kingdom of Great Britain & N. Ireland (Press Release) November 20, 2008 -- Investors are making a hasty retreat into defensive stocks such as tobacco companies like National Grid, Imperial tobacco, Severn Trent, all of which are on the whole largely unaffected by consumer spending. Glaxo could be a decent recovery play now that it is taking large strides to cutting costs after plummeting sales of its diabetes drug Avandia wiped $1 billion off revenues. It has recently signed some new deals, and is looking to boost growth areas like cancer drugs and vaccines, while at the same time reducing their efforts in shrinking markets such as chronic diseases.
