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Tag: UK:GSK

  • GSK PLC 4Q Pre-items, Pretax Pft GBP1.56B

    GSK PLC 4Q Pre-items, Pretax Pft GBP1.56B

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    Corrections & Amplifications

    This headline was corrected at 0731 GMT to reflect GSK PLC 4Q Pre-Items, Pre-Tax Pft GBP1.56B, not GBP8.11B

    Corrections & Amplifications

    This headline was corrected at 0729 GMT to reflect GSK PLC 4Q Adj EPS 28.9p, not Adj EPS GBP1.551

    By Joe Hoppe

    GSK said its sales rose, driven by growth in its best-selling shingles vaccine Shingrix and the launch of RSV vaccine Arexvy earlier last year, and raised its guidance for 2024.

    The British pharmaceutical major posted sales of 8.05 billion pounds ($10.22 billion) for the fourth quarter of 2023, up from GBP7.33 billion the year prior and beating a Visible Alpha consensus of GBP7.61 billion.

    Write to Joe Hoppe at joseph.hoppe@wsj.com

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  • GSK shares surge after reaching settlement on Zantac ahead of California trial

    GSK shares surge after reaching settlement on Zantac ahead of California trial

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    GSK
    GSK,
    +5.45%

    shares surged 6% in London action as the U.K. pharmaceutical said it reached a settlement over its Zantac heartburn medication litigation with a plaintiff in California ahead of the trial slated to start July 24 in state court. Other companies impacted by Zantac litigation fears, Haleon
    HLN,
    +0.69%

    and Sanofi
    SAN,
    +1.28%
    ,
    also advanced though not by as much. GSK didn’t say the financial terms of the settlement but did say it did not admit liability. “We continue to believe the current share price reflects potential liabilities of up to [$30 billion] are being priced into the share,” said analysts at Shore Capital. “Working backwards from this implies individual settlements at c.$225k which seems towards the higher end of pay-outs made in talc or glyphos cancer-related suits.”

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  • Moderna, CureVac and Ocugen offer updates on COVID vaccines, while China cracks down on critics of government’s pandemic response

    Moderna, CureVac and Ocugen offer updates on COVID vaccines, while China cracks down on critics of government’s pandemic response

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    A flurry of announcements relating to COVID vaccines dominated headlines on the pandemic on Monday, with Moderna telling investors it expects to generate some $5 billion in sales in 2023.

    That’s down from $18.4 billion in sales in 2022. The company plans to boost spending on research and development to $4.5 billion this year, up from $3.3 billion in 2022.

    Moderna
    MRNA,
    +1.79%

    provided the update in advance of the company’s presentation at the annual J.P. Morgan Healthcare Conference in San Francisco.

    Separately, CureVac
    CVAC,
    +24.46%

     said preliminary data from its early stage trial for its COVID and seasonal flu shots had positive results to advance to the next stage of clinical testing.

    CureVac is developing the shots with GlaxoSmithKline
    GSK,
    -0.79%

     
    GSK,
    -0.75%
    .
     CureVac said the shot was well tolerated, and that neutralizing antibodies were beginning at the lowest tested dose for younger adults. The seasonal flu shot was also well tolerated with an increase in antibodies compared to those from a flu vaccine comparator in younger adults, CureVac said.

    Ocugen announced positive results in a trial of its COVID vaccine Covaxin, which uses the same vero cell manufacturing platform that has been used in the production of polio vaccines for decades. The Phase 2/3 trial involved 491 U.S. adult participants who received two doses of Covaxin or placebo 28 days apart.

    “Covaxin, an inactivated virus vaccine adjuvanted with TLR7/8 agonist, has been demonstrated in clinical trials to generate a broader immune response against the whole virus covering important antigens such as S-protein, RBD, and N-protein; whereas currently approved vaccines in the U.S. target only S-protein antigen,” the company said in a statement.

    Chief Executive Dr. Shankar Musnuri said the company is hoping the vaccine will offer an option for those who are still hesitant to take an mRNA vaccine, which uses newer technology.

    U.S. cases were lower on Sunday, according to a New York Times tracker. The seven-day average of new cases stood at 67,246, down 1% from two weeks ago.

    The daily average for hospitalizations was up 18% at 47,500., the highest level since last March. The average for deaths was 509, up 19% from two weeks ago.

    Hospitalizations are becoming concerning, according to the Times trackers, with the Northeast seeing the highest per capita rates, along with the Southeast.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • China has suspended or closed the social-media accounts of more than 1,000 critics of the government’s COVID response, as the country rolls back harsh anti-virus restrictions and gears up for the coming Lunar New Year holiday, the Associated Press reported. The popular Sina Weibo social media platform said it had addressed 12,854 violations including attacks on experts, scholars and medical workers and issued temporary or permanent bans on 1,120 accounts. The ruling Communist Party had largely relied on the medical community to justify its tough lockdowns, quarantine measures and mass testing, almost all of which it abruptly abandoned last month, leading to a surge in new cases that have stretched medical resources to their limits. The party allows no direct criticism and imposes strict limits on free speech.

    Tens of thousands of people resumed travels in and out of China on Sunday as the country lifted almost all of its border restrictions, ending three years of strict pandemic controls. Some travelers expressed relief to be reunited with their families. Photo: Tyrone Siu/Reuters

    • Pfizer’s
    PFE,
    -4.77%

    antiviral Paxlovid has not been included in the Chinese government’s national reimbursement list that would have allowed patients to get it at a cheaper price throughout the country, saying it was too expensive, the AP reported separately. Although it is supposed to be prescribed by medical professionals, that hasn’t stopped people from scrambling to purchase it on their own through any means at their disposal—including buying generic Indian versions of the drug through the internet, according to local media reports.

    • The union representing a group of nurses at a New York City hospital reached a tentative contract agreement with its management, but close to 9,000 nurses at several other major hospitals were still preparing to go on strike, the AP reported. The New York State Nurses Association and BronxCare Health System said Saturday that a tentative agreement had been reached; the union said it included pay raises every year of its three-year term as well as staffing increases. Another hospital, Flushing Hospital Medical Center, got to a tentative agreement with nurses on Friday evening.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 664.3 million on Monday, while the death toll rose above 6.7 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 101.2 million cases and 1,096,523 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 229.3 million people living in the U.S., equal to 69.1% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 48.2 million Americans, equal to 15.4% of the overall population, have had the updated COVID booster that targets both the original virus and the omicron variants.

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  • China eases some travel requirements in move welcomed by markets, even as it counts 10,000 new COVID cases in a day

    China eases some travel requirements in move welcomed by markets, even as it counts 10,000 new COVID cases in a day

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    China counted more than 10,000 fresh COVID cases on Friday sparking further restrictions on movement, but also eased some travel requirements in a move welcomed by financial markets.

    Beijing closed city parks and imposed other restrictions, even as millions of people remained under lockdown Friday in the West and south of China, the Associated Press reported. 

    The country reported 10,729 new cases on Friday, almost all of them testing positive while showing no symptoms. More than five million people were under lockdown Friday in the southern manufacturing hub Guangzhou and the western megacity Chongqing.

    The government said Friday it was reducing the amount of time incoming passengers would be required to undergo quarantine. The U.S. Embassy this week renewed its advisement for citizens to avoid travel to and within China unless absolutely necessary.

    Incoming passengers will only be quarantined for five days, rather than the previous seven, at a designated location, followed by three days of isolation at their place of residence, according to a notice from the State Council, China’s cabinet.

    It wasn’t immediately clear when and where the rules would take effect and whether they would apply to foreigners and Chinese citizens alike.

    Relaxed standards would also be applied to foreign businesspeople and athletes, in what appeared to be a gradual move toward normalization. The news will be welcomed by Chinese citizens frustrated by the government’s zero COVID policy that has kept many in their homes sometimes for months at a time, and forced them to take regular tests.

    In the U.S., known cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 40,835 on Thursday, according to a New York Times tracker, up 9% versus two weeks ago.

    As always, case numbers vary from state to state and some are seeing sharp spikes, led by Nevada, where cases have soared 176% from two weeks ago, the tracker shows. That’s followed by Utah, where they are up 77%, New Mexico at 62% and Oklahoma at 54%.

    Cases are rising in 32 states, as well as Washington, D.C., Guam, the U.S. Virgin Islands and Puerto Rico. They are up by double digits in 27 of those states.

    The daily average for hospitalizations was up 3% at 27,989, while the daily average for deaths is down 9% to 326. 

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Four German regions — Baden-Wuerttemberg, Bavaria, Hesse and Schleswig-Holstein — plan to scrap rules requiring people infected with the coronavirus to isolate at home, arguing that the pandemic has evolved and it’s time for a different approach, the AP reported. The health ministry pointed to declining infections, effective vaccinations, a high degree of population immunity, milder illnesses and the example of countries such as Austria that have loosened rules. “The decision doesn’t mean that we will give free rein to infections,” said Bavarian state health minister Klaus Holetschek. “People who test positive will in the future have to put on a mask outside their own apartment. And of course, the principle still goes that people who are sick stay at home.”

    • Sanofi
    SAN,
    -5.22%

    won European Union approval for its COVID vaccine booster, jointly made with British partner GSK
    GSK,
    -5.65%

    GSK,
    -6.01%
    ,
    after a drawn-out development effort that saw the pair fall behind now-dominant vaccine suppliers, Reuters reported. The shot with the brand name VidPrevtyn Beta can be given to people who have already had a primary course of vaccination from other approved shots, the French drugmaker and the European Medicines Agency said in separate statements. Shipments are ready to be distributed to European countries under advance purchase agreements, Sanofi said. The company said last year that the European Union and Britain had ordered a combined 75 million doses of the shot, contingent on approval.

    • U.S. Supreme Court Justice Sonia Sotomayor rejected a bid to prevent New York City from enforcing its COVID-19 vaccine mandate for municipal workers against a group of teachers, firefighters and others who challenged the policy, Reuters reported separately. The justice denied an emergency request, received by the court on Nov. 4, to block the policy by individual municipal workers, as well as a group called New Yorkers For Religious Liberty, while their appeal of lower court decisions siding with the city proceeds.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 634.3 million on Friday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.9 million cases and 1,074,485 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.8 million people living in the U.S., equal to 68.6% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 31.4 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 10.1% of the overall population.

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  • GSK Says Dreamm-3 Phase 3 Study For Blenrep Didn’t Meet Primary Endpoint

    GSK Says Dreamm-3 Phase 3 Study For Blenrep Didn’t Meet Primary Endpoint

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    By Michael Susin

    GSK PLC said Monday that its Dreamm-3 Phase 3 study in patients with relapsed or refractory multiple myeloma didn’t meet its primary endpoint of progression-free survival.

    The pharmaceutical giant said that the study compared its monotherapy Blenrep versus pomalidomide in combination with low dose dexamethasone and observed median progression-free survival was longer for Blenrep.

    “These trials are designed to demonstrate the benefit of Blenrep in combination treatment with novel therapies and standard-of-care treatments in earlier lines of therapy and dosing optimization to maintain efficacy while reducing corneal events,” it added.

    The company said additional trials will continue and further data from the studies are anticipated in the first half of 2023.

    Write to Michael Susin at michael.susin@wsj.com

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