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Apparently not
With so much bad news in the world, this Glaxo development makes for very positive reading. Also good for the SP !
Roadmaps?....Are they driving somewhere?....Valued as if there was a problem....Increasingly confidence for the future...
Even if you are not guilty, this case will run for years, distracting the planned activities and roadmaps.
Why reiterate a previous statement that it will rigorously defend itself when it has done no such thing ?
I don't agree with this in the least. Either GSK has no case to answer and it fights or you settle without liability and look guilty. With these cases settled how many more class actions will now start. Weak management.
(Reuters) - GSK on Wednesday said it agreed to settle another lawsuit in California alleging its discontinued heartburn drug Zantac caused cancer, as the British drugmaker sought to end costly litigation that has weighed on shares.
The company, which has so far only settled cases in California, did not give the financial details of the settlement but said it was a "non-material" sum.
Citi analysts estimate GSK will settle all the Zantac cases against it for a TOTAL OF ABOUT $5 BILLION ( my caps) in the first quarter of 2024, clearing what it called a "still relevant" overhang for its investment case and a distraction for management.
The trial for the Cantlay/Harper case, which was set to begin on Nov. 13, will now be dismissed, GSK said, adding it had also settled three remaining breast cancer cases in California related to the same drug.
The latest settlements in California were related to cases due to go to trial in November, with a further set scheduled to begin in Delaware courts in January, GSK said. The company still faces about 79,000 cases related to Zantac in the United States, with 73,000 of them in Delaware.
By closing these cases before the bigger cases in Delaware in January, GSK takes away the potential risk of losing the California cases and being subject to greater settlement demands from the plaintiffs, a GSK shareholder who declined to be named told Reuters
You can be sure the cases that settle make commercial sense for GSK to whose finances they amount to a mere minor irritation. To the claimants, however, the drawn out litigation is a major worry. GSK retain top level legal advice and KNOW exactly what it takes to drag these cases out and get rid of them as 'economically as possible.
@ casapinos
I do not currently hold and will not until this is resolved and Walmsley goes.
I feel as though Dame Emma Walmsley is a positive Person at the helm of GSK.
How many other posters on here feel the same way as Casapinos as I really would like to know other posters opinion of her.
Excellent news.
If the litigants were confident, they wouldn't settle. There's no scientific evidence to support this shakedown, but it's not worth risking reputational damage by running a protracted legal defence in public. Of course, the litigants know this and take advantage but this is a sign of GSK's confidence and staying on the front foot to swat these spurious claims.
All IMHO DYOR
Happy
It's good you have such a positive outlook. Let's see what the share price does. My holding is approaching 6 figures.
See this RNS
https://www.londonstockexchange.com/news-article/GSK/zantac-ranitidine-litigation/16161207
Slightly worrying for holders in that GSK has NOT said what it cost them to have the cases dismissed. Money will have changed hands, how much? is the key question.
I made the point in posts on this board some time ago that the threat of this action in US courts would take some time (and money) to dissipate. Unfortunately, whether Zantac does or does not cause illness is almost irrelevant, what does matter is how long and how much it will cost GSK before the matter closes.
I do not currently hold and will not until this is resolved and Walmsley goes.
Upside on GSK.
Three year deal with China Zhifei beginning Jan. 2024 to sell Shingrix.
More deals in pipeline.
Luke Meils proper Pharmacy COO , bright future @ GSK
Interesting article from Bloomberg yesterday mentioning that GSK and Pfizer RSV vaccines will bring in $2 billion in sales this year. Assuming Arexvy takes 55% share that is a c£700 million sales upside to the £219 million currently pencilled in by the City.
Buzle... thanku for informing... may we know reasoning why.. and where to...
Perhaps ........... r royce rising trend, vod if it goes lower taken out imo recently the chart turned up (10pc divi while wait) aviva lgen earnings allready known years in advance from annuities 7.5pc div or a few aim cos which MAY !!! go up , times 3, times 4 , ggp arianna gold imo
In my experience its even harder to predict one share going down and another rising....even the active fund mgrs mostly don't do this long term.. Maybe guilts bonds and index etfs.. so as one vid said, buy the haystack dont look for the needle.
.. In my dreams, isa with RISING dive shares, in my dealing, RISING PRICE shares... Ill stay with glaxo haleon aviva lgen vod and three little ones for multibag or not.
I wish you all the best with your investment here I'm moving on for now.
@ Buzle1
I'm hoping that you've got out a bit early as I was think that the SP will can carry on into the Santa Claus rally
Out ! Sooner than I thought but target reached -- don't be greedy.
With the reliable divi blue chips glaxo haleon aviva lgen et all my concern has been, are the boards scared of AI or do they embrace it.
Its like a huge wave, you can either drown underneath it, or surf on top.
At last I know GLAXO stance on this, daily mail today, .."glaxo using ai in its drug research..". massive supergood news in my view. Go Go glaxo. shoot for the stars.
RSV is currently responsible for around half a million hospitalisations and 33.000 deaths in adults over 60 in industrialised countries.
As populations age and more countries become industrialised that 'market' will grow exponentially.
A life saving step forward by GSK
The vaccine is showing positive 2 year efficacy so far so may not need to be administered yearly; good news for sure but it may not be a huge income stream if it does not need an annual dose like the flu vaccine.
Yet more very strong good news from Japan.
Quite a detailed article worth a look at: "Merck Vs. GSK: The Game-Changer Race In Pharma Excellence"
https://seekingalpha.com/article/4636779-merck-vs-gsk-the-game-changer-race-in-pharma-excellence
tldr:
Conclusion
Despite the increasing number of emerging challenges for the pharmaceutical industry, the management teams at GSK and Merck are successfully coping with them. GSK is a leader in developing vaccines against numerous viruses and medicines to treat HIV and respiratory diseases. While Merck is a recognized leader in treating oncological disorders, the demand for its drugs is snowballing due to numerous advantages over the products of such giants of the healthcare sector as AbbVie (ABBV) and Pfizer (PFE).
While we continue our analytics coverage of both companies with an "outperform" rating, GSK has a more diversified portfolio of experimental drugs and vaccines, a higher dividend yield, and lower total debt. As a result, we believe that GSK is a more promising asset in the long term.
They are cheap. But would you go into a bidding war for a house if you knew there was litigation hanging over it?
JAdams5000 - You are either brave or 'Yes Minister' Brave. Yes they seem absurdly cheap but why then are they not yet on the receiving end of a bidding war?