NEW YORK (TheStreet) -- GlaxoSmoithKline PLC (GSK - Get Report) today announced that the FDA approved Tanzeum (albiglutide) for "injection, for subcutaneous use, as a once-weekly treatment for type 2 diabetes."
"Tanzeum has been approved as an adjunct to diet and exercise to improve glycemic control in adts with type 2 diabetes mellitus," it added.
The company "anticipates the U.S. launch" of Tanzeum in the third quarter of 2014.
Shares of GlaxoSmoithKline areup 0.84% to $52.28Must Read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates GLAXOSMITHKLINE PLC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: "We rate GLAXOSMITHKLINE PLC (GSK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated." Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth came in higher than the industry average of 0.6%. Since the same quarter one year prior, revenues rose by 29.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- GLAXOSMITHKLINE PLC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, GLAXOSMITHKLINE PLC increased its bottom line by earning $3.68 versus $2.92 in the prior year. This year, the market expects an improvement in earnings ($3.70 versus $3.68).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Pharmaceuticals industry. The net income increased by 194.2% when compared to the same quarter one year prior, rising from $1,426.48 million to $4,196.37 million.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Pharmaceuticals industry and the overall market, GLAXOSMITHKLINE PLC's return on equity significantly exceeds that of both the industry average and the S&P 500.
- Net operating cash flow has increased to $3,823.62 million or 21.59% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 11.17%.
- You can view the full analysis from the report here: GSK Ratings Report