The recent court ruling allowing 70,000 Zantac lawsuits against GSK to proceed has had a significant impact on the company's stock. This news has caused GSK's stock to tumble by 9%, the most significant drop in two years. Matters aren’t helped by a whistleblower lawsuit the company is currently facing regarding Zantac.
In terms of institutional activity, Oppenheimer & Co. Inc. has lowered its holdings in GSK. Simultaneously, the company has been selling its last Haleon shares, raising $1.24 billion from the latest Haleon stake sale. The divestment move marks further steps in reducing their interests in their consumer health spinoff, Haleon.
Looking at the value side of things, GSK's depemokimab shows promise in severe asthma trials and continues to focus on its pharmaceutical portfolio. Moreover, its Q1 earnings and revenues have surpassed estimates. Despite the ongoing litigation concerns, GSK raises its profit outlook supported by strong vaccine and HIV drug sales.
GSK Stocks News Analytics from Thu, 30 Nov 2023 08:00:00 GMT to Sun, 09 Jun 2024 10:14:22 GMT - Rating -3 - Innovation 0 - Information 2 - Rumor 3
