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GSK share price: Pharmco files COPD drug application in Japan

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GlaxoSmithKline (LON:GSK) has filed an application in Japan for its triple therapy Trelegy Ellipta for chronic obstructive pulmonary disease (COPD), the blue-chip pharmco has said. The treatment is already licensed for use in the US and Europe.

GSK’s share price has been little changed in today’s session, having inched 0.04 percent lower to 1,499.40p as of 13:18 BST. The stock is outperforming the broader market selloff with the benchmark FTSE 100 index having given up 1.25 percent to 7,633.88p, with political turmoil in Italy weighing on sentiment. The pharmco’s shares have lost more than eight percent of their value over the past year, as compared with about a one-percent rise in the Footsie.

GSK files drug application in Japan

GSK announced in a statement today that it had submitted a regulatory application to the Japanese Ministry of Health, Labour and Welfare for once-daily fluticasone furoate/umeclidinium/vilanterol  under the proposed brand name of Trelegy Ellipta for the treatment of adults with COPD. The move marks  the first regulatory filing to be made in Japan for a triple COPD therapy in a single inhaler.

“COPD is a debilitating lung disease affecting over five million people in Japan,” Dave Allen, Head of GSK’s Respiratory Therapy Area R&D, commented in the statement. “Many patients require combination treatment with different types of medicines to reduce both symptoms and exacerbations but there is currently no triple therapy available in Japan delivered in a single inhaler.”

The pharmco noted that its FF/UMEC/VI therapy is approved in the US and Europe.

Analysts on blue-chip pharmco

UBS, which sees GSK as a ‘buy,’ set a price target of 1,600p on the stock on Friday while earlier this month, Liberum Capital reiterated its ‘buy’ stance on the blue-chip pharmco, without specifying a valuation on the shares. According to MarketBeat, the FTSE 100 drugmaker currently has a consensus ‘hold’ rating and an average price target of 1,538.57p.

As of 13:46 BST, Tuesday, 29 May, GlaxoSmithKline plc share price is 1,496.00p.

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