Shares of GSK UK:GSKfell nearly 4% in London as UBS downgraded the pharmaceutical giant to sell from neutral. “We see two factors posing risks to the earnings base longer term – blockbuster vaccine Shingrix will exhaust its catch-up patient pool in the U.S. around ’27 and HIV product
dolutegravir faces patent expiry at the same time. We think this could erode c20% of revenues,” the broker said, as it also reduced its price target to 1300 pence ($30.56 per ADR) from 1820 pence.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Read Full Story
- Brett Arends’s ROI: Millionaires ask: Can I still retire on $1 million? - December 7, 2022
- Living With Climate Change: Climate change turns younger people against having kids. What about adoption? - December 7, 2022
- : EIA reports a weekly drop in U.S. crude supplies, product stocks rise - December 7, 2022