GlaxoSmithKline gets approval for nasal spray

The company said the Veramyst spray, a potential blockbuster for treating hay fever, would be available on prescription in the US by the end of May, and should start selling in Europe by the end of the year. By Marianne Barriaux.

US generics put pressure on GlaxoSmithKline

3.45pm update: Drugs giant posted a fall in sales and profits for the first quarter of the year this morning, due to a strong pound and tough generic competition in the US, while Shire raises its earnings guidance for this year. By Marianne Barriaux.

Biotech firm in cannabis breakthrough

9.45am: GW Pharmaceuticals today signed up Japan's Otsuka to develop and market its pioneering cannabis-based drug Sativex in the US. By Julia Kollewe.