GSK: UBS confirms sell recommendation
(CercleFinance.com) - UBS reinstates its negative rating of GlaxoSmithKline (GSK), which it now recommends investors "sell" (from "neutral"), having reduced its target price to 1,300 pence (from 1,820 pence - current price: 1,342 pence, +1.
4%), with the broker believing that the future remains uncertain for the British pharmaceutical company.
Given that Shingrix will exhaust its patient pipeline in the US at the same time as dolutegravir loses patent protection, a large part of GSK's earnings could be at risk, analysts comment.
The company also announced that it will restrict access in the US to Zejula, its maintenance treatment for ovarian cancer patients.
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