STOCKS NEWS EUROPE-Flu drug makers Roche and Glaxo jump

Roche ROG.VX and GlaxoSmithKline GSK.L lead European drug stocks higher, gaining 3.9 and 3.7 percent respectively, on expectations of increased sales of their flu dugs Tamiflu and Relenza.

Both drugs have been shown to work against a new type of swine flu that has killed 103 people in Mexico.

“These are the two companies with the potential for immediate potential read-though but it won’t necessarily be the same scale of effect as we saw for avian flu,” says Jeff Holford, industry analyst at Jefferies.

“We mustn’t forget that governments have already stocked to a certain extent for H5N1 anyway and it is the same drugs.” For more double click on [ID:nFLU]

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