Latest news with #GSK
Business Insider
17 hours ago
- Business
- Business Insider
GSK price target lowered to 1,290 GBp from 1,355 GBp at Morgan Stanley
Morgan Stanley lowered the firm's price target on GSK (GSK) to 1,290 GBp from 1,355 GBp and keeps an Underweight rating on the shares. The firm updated the company's model for currency moves and reduced Blenrep sales ahead of the Q2 report. Morgan Stanley cut its peak Blenrep sales estimate to GBP 500M from BBP 1.4B citing the 'low probability' of a U.S. approval. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Daily Mail
21 hours ago
- Business
- Daily Mail
Cancer drug snub wipes £3bn off GSK value
Shares in GSK tumbled after a key blood cancer drug failed to win over US regulators – wiping more than £3billion off its value. In a setback for chief executive Emma Walmsley, a Food and Drug Administration (FDA) committee recommended against approving Blenrep amid concerns over side effects. GSK was trying to revive a product pulled from US markets in 2022. Its shares fell 4.6 per cent, or 65p, to 1348p yesterday. The pharma firm hoped two trials showed Blenrep helped reduce the risk of death and delayed cancer progression as it seeks newer drug approvals to offset declining sales from top medicines and vaccines. GSK is also bracing for HIV patents to expire from 2028. The FDA is due to give its formal decision next week, but bank analysts say that gaining approval is unlikely. Side effects cited by the FDA advisory panel included blurred vision and dry eyes.
Yahoo
a day ago
- Business
- Yahoo
BofA Maintains a Sell Rating on GSK plc (GSK), Sets a PT of p1,510
GSK plc (NYSE:GSK) is one of the best . On July 15, BofA analyst Sachin Jain maintained a Sell rating on GSK plc (NYSE:GSK) and set a price target of p1,510.00. A doctor and a patient discussing a therapy plan that includes pharmaceutical products. The analyst based the rating on factors related to the company's Blenrep drug, stating that the FDA briefing documents highlighted considerable concerns regarding its ocular toxicity and dosing. Issues associated with these factors are central, and the FDA questioned if suitable dosages have been identified, given the poor tolerability seen in trials. The analyst further reasoned that the high ocular toxicity rates, including keratopathy and visual acuity changes, are especially alarming, as a majority of the patients experienced severe and recurrent ocular events. Jain also noted the limited applicability of trial results to the US markets because of the use of a comparator arm not approved in the US and low enrollment of US patients, resulting in an uncertain risk-reward balance for the drug and warranting a cautious stance. Formerly known as GlaxoSmithKline, GSK plc (NYSE:GSK) is a global healthcare and biopharmaceutical corporation that develops and distributes a range of vaccines, medications, and consumer health items. It is based in the United Kingdom and has over 20 vaccines in its portfolio, positioning it as a leader in vaccines, immunology, and respiratory therapies. The company also develops cancer treatments for multiple myeloma, ovarian cancer, and endometrial cancer in addition to other drugs. While we acknowledge the potential of GSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Global Stocks Recap: Alibaba, Saab, Burberry, GSK
↗️ Saab (SE:SAAB.B): The Swedish defense company posted better-than-expected earnings and raised its annual sales guidance. Shares jumped 16%. NATO members' pledge to spend more on defense is boosting investment in the sector. ↘️ GSK (GSK): A FDA committee voted against approving GSK's Blenrep drug, a setback for its bid to reintroduce the blood-cancer treatment in the U.S. Shares dropped 4.6% in London. ↗️ Alibaba (BABA): The Chinese-commerce giant rose 2.9% in Hong Kong. Chinese technology stocks got a boost this week from President Trump clearing Nvidia to sell H20 chips in the country, as well as robust GDP data.
Yahoo
a day ago
- Business
- Yahoo
GSK's Blenrep faces setback as FDA cancer committee votes against approval
The US Food and Drug Administration's (FDA's) Oncologic Drugs Advisory Committee (ODAC) has voted against the benefit/risk profile of GSK's Blenrep (belantamab mafodotin) just days before the drug's Prescription Drug User Fee Act (PDUFA) date. This marks a significant setback for the UK-based pharma company, which is aiming to regain approval of the therapy after it was pulled from the US market in 2022 due to concerns raised by late-stage trial data. Blenrep was approved under the FDA accelerated approval process in 2020 to treat multiple myeloma (MM). It is an antibody drug conjugate (ADC) that combines a humanised BCMA monoclonal antibody with the cytotoxic agent auristatin F, linked together by a non-cleavable linker. The ODAC committee had a 7–1 split against the combination of Blenrep plus pomalidomide and steroid dexamethasone and a 5-3 split against the combination of Blenrep with bortezomib and dexamethasone. GSK states it remains confident in the benefit/risk profile of Blenrep as a combination therapy and will continue to work closely with the FDA as they complete the review of the drug in patients with relapsed or refractory multiple myeloma (r/r MM). The FDA will consider the recommendation of the committee as it finalises its review on Blenrep in advance of the 23 July PDUFA date. The concern of ocular toxicity was first highlighted in a document published ahead of the ODAC meeting that took place on 17 July. The recommendation given by ODACs is usually followed by the FDA when deciding if a drug should be approved. Data supporting the drug's approval comes from the DREAMM-7 (NCT04246047) and DREAMM-8 (NCT04484623) studies. In the studies, many patients experienced keratopathy and Visual Acuity (KVA) events. All grade KVAs occurred in 92% and 93% of patients in DREAMM-7 and DREAMM-8, respectively, while more serious grade 3-4 events were found in 77% and 78% of patients in the same two studies. Blenrep combinations are approved in r/r MM in the UK and Japan, as well as other markets, including Switzerland, based on the results of DREAMM-8. Applications for approval in the European Union (EU) and China are ongoing, based on the results of the DREAMM-7 study. "GSK's Blenrep faces setback as FDA cancer committee votes against approval" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
