GSK share price: Drugmaker reportedly set to add ten drugs to pipeline

on Feb 3, 2014
Updated: Apr 9, 2020
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iNVEZZ.com, Monday, February 3: GlaxoSmithKline Plc (LON:GSK) is set to unveil plans to launch late-stage clinical trials on ten new drugs over the next two years, The Telegraph has reported without quoting any sources.

Separately, the UK drugmaker today said that the US Food and Drug Administration (FDA) had granted breakthrough therapy designation for its Promacta/Revolade (eltrombopag) medicine for severe aplastic anaemia.
GSK’s share price has climbed more than one percent in London so far today.

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**GSK to update pipeline with ten new drugs**
The Telegraph reported on Saturday that GSK, which this week is scheduled to report its fourth-quarter results, will announce plans to launch late-stage clinical trials on ten new drugs over the next two years.
The drugs, which have not been detailed to investors, will include medicines in GSK’s key areas of cancer and respiratory disease.

GSK is also expected to report that sales in China, where the company’s operations have been disrupted by an ongoing investigation of bribery allegations, took a smaller hit in the final three months of the year than they did in the previous quarter when the scandal first erupted.
Last month, GSK’s finance chief Simon Dingemans said that the company’s sales in China had picked up since the quarter ended September 30, 2013. (GSK share price: China sales improved since Q3 drop, CFO says)

The Telegraph quoted Deutsche Bank analyst Mark Clark as expecting GSK’s sales in China to have fallen 30 percent in the fourth quarter, an improvement on the third quarter when they plunged 61 percent year-on-year. (GSK share price drops with China sales hit by bribery probe)

**Promacta/Revolade named as breakthrough therapy**
In other GSK news, the UK pharma giant today said in a statement that the FDA had granted breakthrough therapy designation for Promacta/Revolade, also known as eltrombopag, for the treatment of patients with severe aplastic anaemia (SAA) who have had an insufficient response to immunosuppressive therapy.

The company noted that eltrombopag is not approved or licensed anywhere in the world for use in this treatment setting and that currently there are no approved therapies available for SAA patients unresponsive to initial immunosuppressive therapy.
FDA’s breakthrough therapy designation was introduced in 2012 to expedite the development and review of drugs for serious or life-threatening conditions such as SAA, a rare disorder in which the bone marrow fails to make enough new blood cells. The breakthrough therapy designation means that eltrombopag will be fast-tracked within the US regulatory system.
**As of 13:01 UTC, buy GSK shares at 1584.50p.**
**As of 13:01 UTC, sell GSK shares at 1584.00p.**
Trade stocks with Hargreaves Lansdown from £5.95 per deal.
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