June 03, 2024 08:55 GMT
Glaxo (GSK: A2/A): Zantac Update
HEALTHCARE
Glaxo has shed nearly £7bn in market cap post the Zantac ruling in Delaware.
- The move takes the share price back to Mid-April levels so just reversing some of the positive sentiment built up in the name recently.
- GSK’s main near-term growth drivers are its vaccines Arexvy (RSV) and Singrix (shingles) which still put the equity up 11% YtD.
Bonds are quoted around +9 wider for GSK 3.125 32 and GSK 1.75 30
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