BioCentury
ARTICLE | Financial News

U.K. biopharma stocks weather the Brexit storm

November 16, 2018 12:10 AM UTC

U.K. biopharma stocks held steady Thursday despite the turmoil caused by Brexit negotiations, while the pound lost almost 2% of its value.

AstraZeneca plc (LSE:AZN; NYSE:AZN) stock was unchanged in New York on Thursday, and rose 44p to 6,317p in London. GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) added a penny in New York and closed up 30p to 1,562.6p in London. The Financial Times Stock Exchange 100 Index (FTSE 100) remained mostly unchanged. The pound began Thursday at about $1.30, but quickly fell to around $1.28 on a day that saw Brexit Secretary Dominic Raab and Secretary of State for Work and Pensions Esther McVey resign. ...