HC Deb 08 May 1998 vol 311 cc520-1W
Dr. Gibson

To ask the President of the Board of Trade if she will take regulatory steps to inhibit inflated claims and suppression of results of clinical trials in the biotechnology drug industry. [40638]

Mrs. Liddell

I have been asked to reply.

The London Stock Exchange is the Competent Authority for Listing in the UK and in this capacity acts to regulate the disclosure of information to the market by listed companies. Companies which are listed have continuing obligations of disclosure under the listing rules of the Exchange which are made under Part IV of the Financial Services Act 1986. Directors of listed companies must notify the market via the Exchange of changes in the company's expectation of its performance where knowledge of the change is likely to lead to substantial movement in the price of its shares. Such changes might, in the case of biotechnology companies, include the results of clinical trials. Where necessary the Exchange investigates possible breaches of the rules.

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