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Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,604.50
Bid: 1,604.00
Ask: 1,604.50
Change: -5.50 (-0.34%)
Spread: 0.50 (0.031%)
Open: 1,611.50
High: 1,615.50
Low: 1,599.50
Prev. Close: 1,610.00
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GSK stays strong as healthy sales beat expectations

Wed, 26th Apr 2023 09:21

LONDON, April 26 (Reuters) - GSK began 2023 with a quarterly performance that beat analyst expectations and extended a series of positive results following strong sales of its roster of vaccines as well as HIV and respiratory medicines.

It reaffirmed its guidance for 2023, saying it expected adjusted operating profit growth to be higher in the second half, but lower in the first half of the year when expected drug launches will increase costs.

The British drugmaker carved out its consumer health business Haleon last year and has in recent quarters begun to reverse years of underperformance relative to its peers and from largely missing out on the market for COVID-19 vaccines.

Even after stripping out one-time contributions, the underlying revenue and earnings beat are a respectable 3% and 4% respectively, Citi analyst Andrew Baum wrote in a note.

He added there was little material risk to GSK's near-term earnings, although investors are nervous ahead of a trial in California for Zantac, a discontinued heartburn drug that claimants say is linked to cancer.

Some of those fears were quashed in December after a U.S. judge dismissed about 50,000 claims in federal court.

That does not directly affect tens of thousands of similar cases pending in state courts and a trial in July will be the first test of how Zantac cancer claims fare before a jury.

Investors are also concerned about the company's long-term prospects, given the pending loss of patent protection of one of GSK's HIV compounds and setbacks in its marketed oncology portfolio.

To compensate, the company has announced a number of buyout deals, including Bellus Health, Affinivax and Sierra Oncology.

GSK is also relying in part on its potential blockbuster vaccine for RSV, which leads to thousands of hospitalisations and deaths each year.

It anticipates launching the vaccine later this year in the U.S. and Europe, pending regulatory approval, as does rival Pfizer.

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11 Jun 2024 14:31

Zantac litigation fears overdone at GSK, says Shore Capital

(Sharecast News) - Volatile moves in GSK's share price are likely to persist in the near term as a result of ongoing Zantac-related litigation, but the long-term investment case is "still appealing", according to Shore Capital, which kept a 'buy' rating on the stock.

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11 Jun 2024 09:32

TOP NEWS: GSK takes first steps to appeal Zantac ruling in Delaware

(Alliance News) - GSK PLC on Tuesday said it has taken the first steps to seek appeal of a ruling by the Delaware Superior Court in regard to its discontinued heartburn drug Zantac.

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11 Jun 2024 09:12

LONDON MARKET OPEN: FTSE 100 up; UK unemployment rises to 4.4%

(Alliance News) - Stock prices in London opened higher on Tuesday, after a difficult day for markets on Monday amid the EU election fallout.

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11 Jun 2024 07:52

LONDON BRIEFING: FTSE 100 called up despite unemployment rise

(Alliance News) - The FTSE 100 in London was called to open higher on Tuesday, after data showed that unemployment in the UK unexpectedly rose.

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11 Jun 2024 07:22

GSK launches appeal to recent Zantac ruling

(Sharecast News) - GSK has started the process of appealing a recent decision by the Delaware Superior Court regarding the ongoing Zantac, or ranitidine, litigation, it announced on Tuesday.

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11 Jun 2024 00:32

GSK asks to appeal Delaware ruling allowing Zantac cases to go forward

June 10 (Reuters) -

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10 Jun 2024 22:49

Latest trial over Zantac cancer claims called off as plaintiff drops case

June 10 (Reuters) - A woman who claimed in a lawsuit that GSK's discontinued heartburn drug Zantac caused her breast cancer dropped her case shortly before it was set to go to trial in Illinois state court on Monday, the company announced.

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10 Jun 2024 19:00

TOP NEWS: GSK welcomes dismissal of Zantac case in Illinois

(Alliance News) - GSK PLC on Monday welcomed the dismissal of a case in the US concerning the heartburn drug, Zantac, which was due to start on Monday.

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10 Jun 2024 12:42

EU to secure 40 million avian flu vaccines for 15 countries - officials

BRUSSELS, June 10 (Reuters) - The EU will sign a contract on Tuesday to secure over 40 million doses of a preventative avian flu vaccine for 15 countries with the first shipments heading to Finland, EU officials said on Monday.

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10 Jun 2024 08:39

GSK gets FDA approval for Arexvy vax in 50-59 year olds at risk of RSV

(Alliance News) - GSK PLC on Monday announced that the US Food & Drug Administration has approved an expanded age indication for its respiratory syncytial virus vaccine.

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10 Jun 2024 07:37

LONDON BRIEFING: FTSE called down amid political uncertainty in EU

(Alliance News) - Stocks in London are called to open lower on Monday, setting off the week on the backfoot, with eyes on the US Federal Reserve's latest interest rate decision.

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10 Jun 2024 07:17

GSK's Arexvy vaccine approved for wider age range

(Sharecast News) - US regulators have approved the use of GSK's Arexvy vaccine for a younger age group, the biopharma group announced on Monday.

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7 Jun 2024 19:34

What to know about bird flu in dairy cows and the risk to humans

CHICAGO, June 7 (Reuters) - The outbreak of bird flu in U.S. dairy cows has now been confirmed in Minnesota and Iowa, bringing to 11 the total number of affected states, which have been encouraged to ramp up testing efforts at the request of government officials.

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5 Jun 2024 09:52

LONDON BROKER RATINGS: Berenberg raises Taylor Wimpey to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

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3 Jun 2024 17:20

European shares kick-off June on a high note in anticipation of ECB rate cut

GSK tumbles as Zantac lawsuits allowed to proceed

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