GSK share price: Company unveils positive data for combined COPD therapy

iNVEZZ.com, Thursday, June 12: GlaxoSmithKline Plc (LON:GSK) and its US partner Theravance Inc (NASDAQ:THRX) have reported positive results from two late-stage studies of the Incruse Ellipta therapy when combined with Relvar Breo Ellipta for the treatment of chronic obstructive pulmonary disease (COPD).

GSK’s share price has added about 0.3 percent in London trading this morning.
**Upbeat study results**
GSK and San Francisco-based Theravance announced yesterday in a statement that two Phase III studies had showed that COPD patients who received the Incruse Ellipta treatment in addition to the Relvar Breo Ellipta therapy had achieved an additional improvement in lung function as compared with patients who were given placebo instead of Incruse Ellipta.

“These data are an important addition to the evidence base supporting the efficacy and safety of Incruse,” Darrell Baker, SVP and head of GSK’s Global Respiratory Franchise, said in the statement, adding that the studies were the first to investigate the combined effect of two of the newest medicines from the company’s respiratory portfolio.

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GSK’s Incruse drug, also known as umeclidinium, was approved in Europe in April, with the company expecting that the first launches will have taken place by the end of the current year. Incruse is a 55mcg strength inhalation powder delivered by the Ellipta inhaler.

**Respiratory focus**
Respiratory drugs are one of GSK’s key strategic franchises along with HIV, vaccines and consumer healthcare. The group’s flagship respiratory drug Advair however has been facing competition from cheaper generics contributing to an 11 percent drop in the group’s respiratory sales during the first quarter of 2014.
GSK expects that the Breo/Relvar, Anoro and Incruse drugs will strengthen its respiratory portfolio and has also said that it has a further six new products in its late-stage pipeline including mepoluzimab, a new treatment for severe asthma, which is also being investigated as a treatment for COPD.

Analysts on GSK
The 23 analysts offering 12-month price targets for GSK for the Financial Times have a median target of 1,700p, with a high estimate of 3,546.2p and a low estimate of 1,500p. As of June 06, the consensus forecast amongst 49 polled investment analysts covering the stock advises investors to hold their position in the FTSE 100 drugmaker.
**As of 08:57 BST, buy GSK shares at 1617.50p.**
**As of 08:57 BST, sell GSK shares at 1617.00p.**