Member Info for Salty1Pete

I do wonder about the separation/sell off/whatever: sure the margins aren't as good as the other bits, but it's still a good business; maybe they're worried about another takeover attempt, and well they might be. Whatever happens, this is not a share to be out of.

Ditto: a bit of this and a bit of SST, and long term, of course.

China will continue to be a worry for me for the forseeable - basically in terms of Xi's intentions and actions towards Taiwan. Quite a dilemma for him: attack Taiwan and not only does he get a heap of trouble there, but he could trash China's own economy, too. How long for is what he'd me thinking - no doubt pragmatism ($$$) in the West would win in the end.

It would seem that something more than a 'cursory glance' is needed; looks pretty good to me.

I'm almost embarrassed to admit to still holding some in this dog. Year after year we get Stout justifying his awful performance by telling us that we face armageddon, and each year more nifty trusts leave him in their wake. Can we expect better performance when he's out of the picture in June, or will his lieutenants continue with his waffle. He even had the audacity to say that he thought the yield high enough to not merit increasing it by much; as if capital growth was the attraction?? I hold JGGI and BUT as counterweights, and for all I know tech may take a massive tumble. I can well see prices coming back from their highs, but there are better bets than this unfortunate mutt to be had. I'll continue selling, but invest elsewhere cautiously.

I'm surprised that GSK hasn't also made an announcement in line with Sanofi's - it wasn't a joint announcement as far as I'm aware. Anyway, it's expected that the booster will be available by end of year (familiar). At 6% of my wad, I'm holding.

Why is it madness? Why advertise on the same programme twice - streaming and terrestrial.

Agree, ITVX seems to be utter madness. This bit concerns me: 'ITVX would function as a streaming service for content before it aired live on conventional television', well surely they'd be robbing TV advertising revenue - at cost!
Let's hope that either the brain-fart gets ditched at the AGM or the company gets bid for by PE or whoever.
On the strength of that hope (not a great investing strategy) and the undeniable fact that this cash producing business is dirt cheap, I added to it.

Woa, I'm on the wrong day, lol. Nurse, where's me pills.

Denby, if only I knew, lol. Looks as if nothing earth-shattering was announced as they all had their say by close of play. Maybe more interesting will be the Q&A which starts at 16.30
Q. EW: Yes, Salty, go ahead. Salty: just htf do you intend compensating for any loss of divi, and if it's by capital growth, how are you going to make that happen?
A. EW: well Salty, that's an interesting question and I'm sure that the answer will become apparent within the next 10 years. Does that answer your question? Salty? Salty? Don't go, Salty....

I guess any action on GSK's sp will happen tomorrow, judging from the agenda timing:

"Emma Walmsley, CEO, and other members of CET will host a virtual investor update at 14:00-17:30 BST on Wednesday 23 June. The update will provide a clear view of the strategy for New GSK, its outlook for growth and the opportunities we see for shareholder value creation.

... Additional information will be added to this page on 23 June."

Got a little bit carried away with sotrovimab, a couple of weeks back; it's not going to be a big earner, but should save some lives.
Good advice to await Wednesday before trading. It's been talked enough about by those who know less than they make out; we can all guess. My take, is that they'll tread a path between steady as she goes and a spot of radical treatment, but then I know no more than anyone else. Any loss of income is going to have to be made up for by promise/expectation of capital growth, and I firmly believe that the sum of the parts far outweighs the present capitalisation. Walmsley's just going to have to demostrate that.

The fall today, was due to a broker - was it CS? - saying that the sp had reached an 'infection point'. Personally, I'm staying invested as there's a vg yield, the balance sheet is healthy, and I don't see demand for their product slackening for a long time. Set against that is the chance that more product might come on to the market - must check. But I'm not a trader.

"Salty , well you are wrong on the point of merger as Pfizer tried it a while back but didn’t succeed." Really? well that passed me by, but that doesn't in any way disprove my opinion.

I doubt Pfizer and GSK Pharma would merge, as they would be just too big for governments to deal with. Their pricing power would be too great.

Of course, as the separation is still work in progress, it might be a while before any possible offer for CH is made. I'm not even sure that that would be preferable to a split. Can GSK BioPharma succeed without increasing debt? I dunno, but this snippet from the the February results is worth considering:
"The Group initiated in Q1 2020 a two-year Separation Preparation programme to prepare for the separation
of GSK into two companies: New GSK, a biopharma company with an R&D approach focused on science
related to the immune system, the use of genetics and new technologies, and a new leader in Consumer
Healthcare. The programme aims to:
• Drive a common approach to R&D with improved capital allocation
• Align and improve the capabilities and efficiency of global support functions to support New GSK
• Further optimise the supply chain and product portfolio, including the divestment of non-core assets.
A strategic review of prescription dermatology is underway
• Prepare Consumer Healthcare to operate as a standalone company"
It could be that we're looking at a very new GSK. Interesting, btw, that the sp had an unexpected tick-up today. Could be that there's some sort of announcement tomorrow. We'll see.

Ah, forgive me, I must have misunderstood your earlier.
My second largest holding after BA., and held since 1993. Yes, the split might go ahead, but I'd be very surprised if PE aren't looking to make an offer for CH. Interesting times. Must check-up on what you say about what Pfizer "will be" adding to CH.

Oh no, GSK are not just vaccine producers. Pharma T/O £17bn, Vaccines £7bn, CH £10bn. Here's my take on what could happen. CH gets bought for 12xOpProfit, debt free, at £26bn. GSK uses £11bn to reduce net debt to £10bn. Divi gets rebased to 50p, saving Ph/Vacc £2bn. Shareholders get £26bn - £11bn = £15bn, or £3/share, or any version of foregoing. GSK rump sp rises to 1700 to reflect the rump's new value with its reduced debt and divi payments. OK?

Not going alone for a covid vaccine might turn out to be a smart move; there are so many vaccines popping up that margins might get squeezed, especially with the demand for sharing. EW not so daft.

Great news, USA and Canada next. This is well undervalued.
EMA issues positive scientific opinion on GSK and Vir Biotechnology’s sotrovimab for the early treatment of COVID-19

Well yes, but the funding is, apparently, to be raised in the US for a stand-alone US business. Question is: how does that money reach the UK business?