|Bid||47.58 x 1200|
|Ask||47.59 x 2900|
|Day's Range||47.53 - 47.91|
|52 Week Range||38.16 - 48.22|
|Beta (5Y Monthly)||0.37|
|PE Ratio (TTM)||47.95|
|Earnings Date||Jan 31, 2017 - Feb 05, 2017|
|Forward Dividend & Yield||2.00 (4.17%)|
|Ex-Dividend Date||Nov 12, 2019|
|1y Target Est||50.17|
GlaxoSmithKline plc (LSE/NYSE: GSK) announced the US Food and Drug Administration (FDA) granted a priority review for the company's Biologics License Application (BLA) seeking approval of belantamab mafodotin (GSK2857916) for the treatment of patients with relapsed or refractory multiple myeloma whose prior therapy included an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 antibody.
Drug companies are not making progress against the spread of antibiotic resistance at a scale and speed great enough to tackle the global health threat posed by superbugs, a key benchmark analysis found on Tuesday. The findings of a second Antimicrobial Resistance (AMR) Benchmark report showed that while a few pharmaceutical companies are expanding their efforts, change is not happening at the scale needed to radically impact the problem. In India, drug resistance exceeds 70% for many widespread bacteria, the AMR report said.
Recently on Mad Money Jim Cramer sat down with Emma Walmsley, CEO of GlaxoSmithKline Plc , the drugmaker with shares up 19% over the past year and a 4.3% dividend yield. Walmsley said GlaxoSmithKline continues to see progress and momentum and is generating a lot of positive data for patients. The company is the leading provider of vaccines around the globe and Walmsley was especially proud of a new vaccine for shingles, a painful disease that affects nearly one in three people over the age of 50.
GlaxoSmithKline expects its partnership with consumer genetics testing company 23andMe to have selected its first drug target and launched a clinical trial by the end of the year. providing genetic information and a way to eventually reach potential trial participants. GSK and 23andMe, which are exploring many potential drug candidates together, have not yet revealed the disease the first drug will be designed to treat.
Despite the pharmaceutical industry’s best efforts, its least-favorite plan to cut drug prices isn’t going away. Unrest over drug pricing hung like a shadow above this year’s J.P. Morgan Health Care conference.
Clovis' (CLVS) sNDA seeking label expansion of Rubraca to include BRCA-mutant advance prostate cancer gets priority review from the FDA. Stock up.
GlaxoSmithKline was downgraded to underweight from equal weight by Barclays, which said 2020 looks to be a much tougher investment year for the pharma giant without much growth. It's now expecting zero like-for-like sales growth a slight EPS downgrade, Barclays said. "Whilst dividend/FCF yields look attractive, the former is likely to remain a source of uncertainty and the latter elevated in the absence of a pipeline/growth story," the broker said.
(Bloomberg) -- U.K. drugmaker GlaxoSmithKline Plc hasn’t made plans to pursue an initial public offering of the consumer-health company it set up with Pfizer Inc. last year, a top executive said, distancing himself from remarks made by Pfizer’s chief executive a day earlier.The comments could expose a lack of communication between the two partners. Pfizer’s Chief Executive Officer Albert Bourla yesterday said he expected Glaxo to pursue an IPO in three to four years.“This is the time that we will be able to exit from this partnership, and I’m sure that this business will have a fantastic IPO,” Bourla said at the J.P. Morgan Healthcare Conference in San Francisco.An IPO isn’t the only option, said David Redfern, Glaxo’s chief strategy officer, in an interview at the meeting. Glaxo said at the time of the deal that it would separate and list the company within three to five years.“Actually we haven’t decided anything,” Redfern said Wednesday. “When we announced the deal, we said we expect it to separate within three years, but actually up to five years. And it’s entirely our decision.”Both Glaxo, the majority owner, and Pfizer, which has about a third of the business, are looking to focus on drug development. Recent shifts in the health-care business and in the broader economy have challenged a model in which drugmakers control every corner of home medicine cabinets.Redfern said the consumer business needed to focus on integration and growing sales, not a spinoff or IPO.“We don’t want it too distracted right now thinking about capital markets,” he said. “Whether it’s an IPO or just a straight spin, all options are on the table. We’ve literally had no discussion” with Pfizer on that topic.With annual sales of about $13 billion, the consumer venture has brought under one roof Advil painkillers, Tums stomach tablets, Sensodyne toothpaste and Nicorette gum.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & Gamble Co.\--With assistance from Mark Schoifet.To contact the reporter on this story: Riley Griffin in New York at email@example.comTo contact the editor responsible for this story: Drew Armstrong at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Pfizer Inc. is planning an initial public offering of its consumer-health joint venture with GlaxoSmithKline Plc in three to four years as the two drugmakers turn back toward the lab.Pfizer Chief Executive Officer Albert Bourla discussed the time frame for the IPO at the J.P. Morgan Healthcare Conference in San Francisco on Tuesday. The plan provides New York-based Pfizer with a clear exit strategy, he said.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & Gamble Co.With annual sales of about $13 billion, it brings under one roof Advil painkillers, Tums stomach tablets, Sensodyne toothpaste and Nicorette gum.Both Glaxo, the majority owner, and Pfizer, which has about a third of the business, are looking to focus on drug development. Recent shifts in the health-care business and in the broader economy have challenged a model in which drugmakers control every corner of home medicine cabinets.Big pharma companies are increasingly focused on developing high-priced new medicines that draw on cutting-edge research in genetics and other fields. At the same time, the cost of researching new cures is climbing even as insurers and governments demand lower prices.On the consumer-health front, intense price competition online from the likes of Amazon as well as own-brand store products have dented margins in the U.S. and parts of Europe.When the deal was announced, Glaxo said it expected a listing within three years of its close, which took place last August.Glaxo shares rose less than 1% to 1,815 pence in London trading. (Updates with industry context in third and fourth paragraphs)To contact the reporter on this story: Mark Schoifet in New York at email@example.comTo contact the editors responsible for this story: Drew Armstrong at firstname.lastname@example.org, Marthe FourcadeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
What a difference a year makes. The start of the annual J.P. Morgan Healthcare investor conference in 2019 brought a double-header of giant deals. In 2020, there was almost nothing.
Glaxo (GSK) submits an MAA in Europe for its investigational candidate fostemsavir, which is being developed for treating HIV-1 infection in heavily pre-treated adult HIV patients.
Gilead Sciences (GILD) entered into a technology license agreement with Xencor for use of XmAb antibody technologies in investigational agents for HIV.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
Merck's (MRK) phase III first-line SCLC study fails to meet one of the two primary endpoints. It signs an oncology collaboration with Taiho Pharmaceutical and Astex Pharmaceuticals.
Bank of America expects European stocks broadly to rise this year, but its key underweight call is the pharmaceutical sector, and the recommendation has nothing to do with talk of reining in U.S. drug prices.
The stock was static in 2019, but a Wall Street veteran thinks investors are overlooking the company's outstanding pipeline and strong upward momentum Continue reading...
Pfizer stock tumbled below other pharma stocks on key metrics in 2019. Recent news has been upbeat with a drug approval and acquisitions. But is Pfizer stock a buy right now?
Once considered one of the state’s fastest-growing public companies, a Woburn medical device company has made a series of substantial cuts over the last year in the hopes of bringing the company out of the red.
This past year wasn't a great one for Pfizer (NYSE:PFE) stock. While the S&P 500 soared 29%, shares in the pharma giant fell to $39.18 per share, making for a 9.1% loss. The reason? Wall Street isn't so keen on its proposed restructuring. Pfizer is in the process of divesting its off-patent drug business. This includes famous pharmaceutical brands such as Viagra and Lipitor.Source: photobyphm / Shutterstock.com In addition, Pfizer stock is becoming less of a consumer products company. Last year, Pfizer closed on its deal to merge its over-the-counter unit with GlaxoSmithKline's (NYSE:GSK) OTC business. Pfizer retains 32% ownership in this joint venture, which combines Pfizer brands like Advil with GSK's consumer health brands like Sensodyne.The reason behind Pfizer's restructuring moves? Growth, or the lack thereof. Pfizer's off-patent portfolio generates consistent cash flow. But it hasn't moved the needle in terms of revenue growth. As a result, PFE stock has underperformed the S&P 500 for years.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo, what's Pfizer's move post-divestiture? To drive shares upward, management is pursuing biotech acquisitions in order to bolster its pipeline. This move could improve both earnings growth and valuation. Is now the time to buy Pfizer stock? Let's dive in, and see why this "Dog of the Dow" may be a great buy for 2020. Divestiture Is the Best MoveHere's a breakdown of the off-patent divestiture. The transaction is your classic "reverse Morris trust," a great move to avoid taxes. Pfizer will merge its off-patent business with generic drug maker Mylan (NASDAQ:MYL). Pfizer will hold majority ownership of the merged entity (named Viatris). The company will then distribute Viatris shares to holders of Pfizer stock. * 10 2019 Winners That Will Be 2020 Losers Last summer, the investment community gave their opinion on Pfizer's divestiture plans. PFE stock fell from above the $42.50 price level to as low as $33.97 per share. Shares have rebounded since, but as I mentioned above, the stock ended up in the red for the year.Management believes shedding legacy assets could jump-start growth. Wall Street disagrees, discounting Pfizer's ability to improve its drug pipeline by pursuing biotech deals like its acquisition of Array. PFE stock is trading its status as a staid "dividend-and-buyback" stock for the uncertainty of becoming what InvestorPlace's Ian Bezek referred to as a "dynamic biopharma company."I believe Pfizer is making the right move. Through the Viatris spinoff, holders of PFE stock retain exposure to the cash-generating off-patent business. By shedding low-growth assets, Pfizer could command a higher valuation multiple down the road.On the other hand, who's to say Pfizer's strategy will pay off? The company is taking a big risk trading security for opportunity. If the company's acquisition spree fails to yield new blockbuster drugs, shares could fall further. Conversely, if the company wins with its current and upcoming drug slate, shares of PFE stock could soar past the $40 share price level. Pfizer Stock Could Benefit From Multiple ExpansionPfizer stock trades at a discount to peers. Shares trade at a forward price-to-earnings ratio of 11.5. Compare this to Merck (NYSE:MRK) or Johnson & Johnson (NYSE:JNJ), which trade for 23.9 and 22.3 times forward earnings, respectively.However, post spinoff, shares could eventually trade at a higher multiple. Adjusted for the spinoff, PFE stock will trade for 15 times estimated 2020 earnings of $2.25 per share. If its valuation moves closer to that of MRK or JNJ, shares could be worth around $50, give or take a few bucks.But that's not all. We need to factor in the Viatris shares holders of Pfizer stock will receive after the spinoff. Per the transaction agreement, Pfizer shareholders will receive about 0.12 shares of Viatris for each share of PFE stock. Based on Mylan's recent closing price of $20.65, this implies a distribution around $2.47 per share. Metamorphosis Offers Upside in 2020Pfizer stock may have been a "Dog of the Dow" in 2019. But post-divestiture, shares could see a boost in 2020. However, there are some caveats. Post spinoff, PFE stock may end up not trading at multiples on par with MRK or JNJ. As Barron's reported back in July, analysts were skeptical Pfizer could command a high multiple even after the spinoff.Yet, if the company's current slate of drugs (including Ibrance) continues to perform well, Pfizer stock may get the sales boost needed to push up valuation. But Pfizer faces patent expiration on Ibrance and other current drugs in a few years. The heat is on for the recent biotech acquisitions to produce new blockbuster drugs.So, what's the call? Investor skepticism over the restructuring is already priced into shares. At the current valuation, PFE stock offers upside potential via multiple expansion. With quarterly earnings set to be released later this month, it may be safer to wait things out. But Pfizer stock is a buy at these levels, and a screaming buy if shares retreat back to their 52-week low.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post After Lackluster 2019, Pfizer Stock Could Rebound in 2020 appeared first on InvestorPlace.
Glaxo's (GSK) successful product launches, increasing focus on the oncology area, and positive pipeline and regulatory updates are driving the stock.