Hundreds of research and development jobs in the UK will shift to GlaxoSmithKline as Europe’s biggest pharmaceuticals company stops researching anti-depressant medicines a pivotal part of its historical neuroscience activity, to save £500m a year in costs by 2012. Andrew Witty , chief executive revealed about an 18 per cent rise in full-year pre-tax profits to £7.9bn on sales up 16 per cent to £28.4bn in the 12 months to December 31.

GlaxoSmithKline, a London-based firm, has finally won U.S. approval to sell its vaccine to fight H1N1 influenza, which is also known as swine flu. A unadjuvanted H1N1 vaccine, which is currently scarce, has been allowed to ship next month in relatively larger amounts to the United States next month.

The British company said on Tuesday that the modified version of its FluLaval seasonal flu vaccine containing the new H1N1 strain has been approved by the Food and Drug Administration.