GSK target price cut as patent expiry concerns weigh
Updated
Updated · The Wall Street Journal · May 6
GSK target price cut as patent expiry concerns weigh
7 articles · Updated · The Wall Street Journal · May 6
Citi cut its price target to 21 pounds from 22.50 pounds, while GSK shares still rose 1.3% to 18.81 pounds.
Analysts said the UK drugmaker's pipeline is improving but remains insufficient to offset looming patent expirations.
GSK will give a broader pipeline update with second-quarter results instead of a June HIV-focused event, after 10 pivotal trial starts, five key data releases and two acquisitions.
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