Company
LON:GSK
GSK PLC will be a fully focused biopharma company following the demerger of its world-leading consumer healthcare business, Haleon, in July 2022. The company will prioritise innovation in vaccines and specialty medicines, maximising the increasing opportunities to prevent and treat disease.
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Strong growth in its Speciality Medicines business and soaring sales of its shingles vaccine, Shingrix, helped the drugmaker report third-quarter sales of £7.83bn comfortably ahead of City forecasts
Previewing Wednesday's news as both GSK and Next release financial updates.
The EMA has also validated GSK subsidiary, ViiV Healthcare’s cabotegravir long-acting injectable HIV preventative
Its RSV vaccine has been a standout after delivering 83% efficacy in a phase III trial.
An FDA committee voted that the benefits of GSK drug, daprodustat outweighed risks for adult dialysis patients with anaemia of chronic kidney disease (CKD), but not for those not undergoing dialysis
The UK drugs giant is being sued alongside Sanofi, Pfizer and Boehringer Ingelheim
This followed the drug giant posting data for its RSV vaccine candidate, demonstrating vaccine efficacy at 83%, with a 94% reduction in severe disease
The phase III trial assessed the impact of its RSV jab on the over 60s
"Investors have picked up on the recent slide of the GBP and the potential translational benefit, given GSK is our only company under coverage that reports in sterling"
Julie Brown has held several roles at GSK's blue-chip rival AstraZeneca and was a member of former PM Boris Johnson’s business council
The UK pharma has gained access to a drug ready to move into phase III clinical trials
The overhang from the cancer lawsuits are expected to linger, but the US$12bn wiped off its market cap “is much higher than what we might expect to be GSK’s share of any settlement”
Analysts said the count of state cases is "likely to snowball if initial outcomes are favourable for plaintiffs"
Joseph Bayer was unable to proceed because of health reasons, said Reuters citing his attorney
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Value destruction from extended legal battles “can often exceed settlement size by orders of magnitude until absolute clarity emerges", said Barclays, with analysts seeing GSK most exposed in upcoming Zantac trials
About 3,000 personal injury cases have been filed in US federal and state courts against GSK
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At the close, the UK blue-chip index was up 34.98 points, or 0.5% at 7,500.89, below the session peak of 7,516.83, but well above the day’s low of 7,464.12
'Perhaps the key reason for share price weakness might be market worries over lawsuits concerning Zantac'
The drugs giant expects sales to grow by as much as 15% this year
