GSK Heading in Right Direction, but Investors Might Stay on Sidelines
Dow Jones07-28
1410 GMT - GSK's research-and-development plan seems a step in the right direction, but investors might stay on the sidelines until the U.K. drugmaker is closer to its destination, Citi analysts say in a research note. The company unveiled plans to target annual cost savings of 1.9 billion pounds by 2029 to fund its drug pipeline and aid profitability. The plan involves a new R&D center in Cambridge, England, and a faster development path for seven drugs across 18 indications, doubling the number of late-stage studies due to start this year, Citi says. "Overall the ambition is heading in the right direction but we think the market will wait for delivery," the analysts say. Shares jump 6%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments