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European markets are set to open lower, influenced by the EU's decision to raise tariffs on Chinese electric vehicles, with stocks like Nio and Geely experiencing declines. The U.K. is poised to reveal its first budget in 14 years, while investors are eyeing potential impacts on various stocks. Additionally, analysts suggest that the dollar may weaken under a Trump presidency, despite initial expectations of a stronger currency.
GSK Plc has acquired an experimental drug from Chinese biotech firm Chimagen Biosciences for up to $850 million, enhancing its lupus treatment pipeline. The deal includes a $300 million upfront payment, with Chimagen eligible for up to $550 million in success-based milestones. The antibody drug, currently in early clinical trials for leukemia and lymphoma, is set to enter early trials for lupus in 2025.
Lyell Immunopharma is acquiring cell therapy startup ImmPact Bio for $30 million in cash and 37.5 million shares, with potential additional shares based on milestones. The company is streamlining its research focus on differentiated cellular immunotherapies for cancer, including the promising IMPT-314 therapy for blood cancers, while halting less successful projects. Following challenges since its IPO, Lyell aims for a turnaround with a financial runway extending into 2027.
The CDC's advisory panel has recommended lowering the routine pneumococcal vaccination age from 65 to 50, potentially expanding the market for vaccines like Merck's Capvaxive and Pfizer's Prevnar. Analysts have adjusted sales forecasts, anticipating significant revenue growth for these vaccines, particularly for Merck in the near term, though competition from Vaxcyte's candidate may emerge by 2028.
The FDA has expanded the approval of Pfizer’s RSV vaccine, Abrysvo, to include adults aged 18 to 59 years at increased risk of respiratory syncytial virus, in addition to those aged 60 and older and pregnant women. Despite three available vaccines, uptake remains slow, partly due to CDC recommendations focusing on higher-risk individuals over 75. GSK has also received expanded approval for its RSV vaccine, Arexvy, for adults aged 50 to 59.
UBS has maintained a 'Neutral' rating for GSK, setting a target price of 1580 pence ahead of the third quarter results. Analyst Jo Walton highlighted concerns over the weak performance of GSK's vaccination business in the USA, particularly for Shingrix and Arexvy, leading to an uncertain outlook for the upcoming year.
UBS has reduced its EPS forecast for GSK by approximately 5% due to anticipated weakness in US vaccine sales and underperformance of Chinese Shingrix. Despite this adjustment, the analyst maintains a Neutral rating with a target price of 1,580 pence, citing resolved Zantac litigation. For 2024, GSK expects sales growth of 7% to 9%, with core EBIT and EPS projections also increased.
UBS has reduced its EPS forecast for GSK by approximately 5% due to anticipated weakness in US vaccine sales and underperformance of Shingrix in China. The analyst maintains a Neutral rating with a target price of 1,580 pence, while projecting sales growth of 7% to 9% for 2024. Core EBIT and EPS expectations have also been revised upward.
UBS has reduced its EPS forecast for GSK by approximately 5% due to anticipated weakness in US vaccine sales and underperformance of the Chinese Shingrix. The analyst maintains a Neutral rating with a target price of 1,580 pence, while projecting sales growth of 7% to 9% for 2024. Core EBIT and EPS expectations have also been revised upward.
Wave Life Sciences has reported promising early results from its RNA editing treatment for alpha-1 antitrypsin deficiency (AATD), showing significant increases in AAT protein levels in two patients. This marks a milestone in therapeutic RNA editing, with no serious side effects observed. The findings have boosted investor confidence, leading to a 75% rise in Wave's shares, while GSK prepares to take over development under their partnership.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
european markets set to decline ahead of growth data and earnings reports
Euro
UBS AG
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06:43 30.10.2024
gsk partners with chimagen for lupus drug deal worth up to 850 million
13:00 29.10.2024
lyell immunopharma acquires immPact bio to refocus on cancer therapies
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cdc recommends lowering pneumococcal vaccine age boosting market potential
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18:16 24.10.2024
FDA expands Pfizer RSV vaccine approval to younger adults at risk
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ubs maintains neutral rating for gsk with target price of 1580 pence
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ubs lowers gsk eps forecast amid vaccine sales weakness
10:59 21.10.2024
ubs lowers gsk eps forecast amid vaccine sales weakness
10:55 21.10.2024
ubs lowers gsk eps forecast amid vaccine sales weakness
10:55 21.10.2024
wave life sciences reports promising early results in rna editing trial
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14:15 16.10.2024
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