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Last line of my post should read 'from £25 to perhaps £26'.'
...where I*can understand cos are reluctant to publish RNS even with great news because the market is on such a downward slope that it will not make any difference to the SP. More news here that under normal circs should be moving the SP from £2 to perhaps nearer £26.
Unfortunately External factors NOT relevant to GSK are affecting SP, that is why it is lower.
This is the case with all investments all over this world.
Today’s S P drop is probably the biggest surprise on the market. Positive news on new reg approval seemed to have the opposite effect for GSK today!!
Not sure why the market has reacted in this way given there has been no negative news come to light.
.....re new possible drug approval for type of endometrial cancer deserves much better than another 1%+ off the SP.
Without the nagging Zantac issues, GSK would be priced at £25+, IMHO.
If legal council advised that this was the best course then we cant argue. What I don't like is to explicitly state that there is no basis for the claim and that it will be fought, then do nothing of the sort. It makes the management look stupid and opens the door to many more class actions, and will encourage people to join in those actions for free cash even when they have never taken zantac
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.