GlaxoSmithKline PLC

GlaxoSmithKline is a global healthcare company. Co.'s segments include: Pharmaceuticals; Vaccines; and Consumer Healthcare. The Pharmaceuticals segment is focused on developing new medicines in respiratory, HIV, oncology and immuno-inflammation, with discovery research exploring these and other areas. The Vaccines segment has a portfolio and pipeline of vaccines to help protect people throughout life. Co. delivers vaccines to people living in over 160 countries. The Consumer Healthcare segment develops and markets consumer-preferred brands in oral health, pain relief, respiratory, nutrition/gastro-intestinal and skin health.
  • TickerGSK
  • ISINGB0009252882
  • ExchangeLondon Stock Exchange
  • SectorPharmaceuticals & Biotechnology
  • CountryUnited Kingdom
Dominic Rose ...
  • Naresh Chouhan

COVID-19 - EU Pharma Co Risk Analysis

As we exit Q2, we now have several datapoints that show EU Pharma has been significantly impacted by COVID-19. We show that doctor visits and NBRx were down by around 40% YoY. However, there is considerable variation by therapy area and by clinical setting. Using a risk matrix and analysing >60 of the biggest drugs in EU Pharma, we analyse which companies are most at risk for 2Q20 & therefore will find hitting 2020 guidance to be all the more challenging. We show SAN & AZN are least impacted whilst GSK & Novartis fare worst. Surprisingly, ROG is impacted more than we expected...

Team Pharma

ODDO : Immune to COVID, not to sector rotation

The Stoxx 600 Healthcare delivered a performance of +4% vs -12% for the Stoxx 600 year to date. This outperformance is attributable to the sector’s defensive role: i/ reassuring Q1 2020 results publications (confirmation of full-year guidance) and ii/ new market opportunities (COVID-19). However, it could be challenged by 1/ a rotation of portfolios to play the resumption of activity linked to the lifting of lockdown measures and 2/ the run-up to the US presidential elections (...

Team Pharma

ODDO : Immun au COVID, pas à la rotation sectorielle

Depuis le début de l’année, le Stoxx 600 HealthCare affiche une performance de +4% vs -12% pour le Stoxx 600 Europe. Cette surperformance s’explique par le rôle défensif du secteur : i/ publications du T1 rassurantes (guidances annuelles confirmées) et ii/ nouvelles opportunités de marché (COVID-19). Cependant elle pourrait être challengée par : 1/ une rotation des portefeuilles pour jouer la reprise d’activité liée au déconfinement ainsi que 2/ l’approche des élections américai...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

GlaxoSmithKline plc - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Jérôme VINERIER

Analyse court terme - GLAXOSMITHKLINE : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 1 625,00 p.

Jérôme VINERIER

Short term view - GLAXOSMITHKLINE : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at 1,625.00 p.

Jérôme VINERIER

Short term view - GLAXOSMITHKLINE : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at 1,560.00 p. Breaking below the support at 1,318.00 p would invalidate the trend.

Jérôme VINERIER

Analyse court terme - GLAXOSMITHKLINE : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 1 560,00 p. La rupture du support à 1 318,00 p invaliderait cette tendance.

Jérôme VINERIER

Medium term view - GLAXOSMITHKLINE : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at 1,321.00 p.

GlaxoSmithKline: 1 director sold

A director at GlaxoSmithKline sold 3,332 shares at 21.055USD and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Dominic Rose ...
  • Naresh Chouhan

COVID-19 - EU Pharma Co Risk Analysis

As we exit Q2, we now have several datapoints that show EU Pharma has been significantly impacted by COVID-19. We show that doctor visits and NBRx were down by around 40% YoY. However, there is considerable variation by therapy area and by clinical setting. Using a risk matrix and analysing >60 of the biggest drugs in EU Pharma, we analyse which companies are most at risk for 2Q20 & therefore will find hitting 2020 guidance to be all the more challenging. We show SAN & AZN are least impacted whilst GSK & Novartis fare worst. Surprisingly, ROG is impacted more than we expected...

Team Pharma

ODDO : Immune to COVID, not to sector rotation

The Stoxx 600 Healthcare delivered a performance of +4% vs -12% for the Stoxx 600 year to date. This outperformance is attributable to the sector’s defensive role: i/ reassuring Q1 2020 results publications (confirmation of full-year guidance) and ii/ new market opportunities (COVID-19). However, it could be challenged by 1/ a rotation of portfolios to play the resumption of activity linked to the lifting of lockdown measures and 2/ the run-up to the US presidential elections (...

Team Pharma

ODDO : Immun au COVID, pas à la rotation sectorielle

Depuis le début de l’année, le Stoxx 600 HealthCare affiche une performance de +4% vs -12% pour le Stoxx 600 Europe. Cette surperformance s’explique par le rôle défensif du secteur : i/ publications du T1 rassurantes (guidances annuelles confirmées) et ii/ nouvelles opportunités de marché (COVID-19). Cependant elle pourrait être challengée par : 1/ une rotation des portefeuilles pour jouer la reprise d’activité liée au déconfinement ainsi que 2/ l’approche des élections américai...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Martial Descoutures ...
  • Sebastien Malafosse

GlaxoSmithKline : A Q2 which is shaping up to be more complicated

>A strong performance in Q1 admittedly... - GSK published yesterday intraday its Q1 2020 results which were marked, like its peers, by a very strong COVID-19 effect. The pharma and consumer activities benefited greatly from this impact, accounting for two-thirds of growth. The respiratory franchise and ViiV (renewal of treatments without switch) benefited from strong stock-piling effects at wholesalers as well as the pain and respiratory sub-divisions in OTC where str...

GlaxoSmithKline plc - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

GlaxoSmithKline plc - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

GlaxoSmithKline plc: Credit metrics will continue to remain weak in 2020 despite slightly better 2019 results

Our credit view of GSK’s 2019 results and guidance on new separation programme, leading to downward pressure on earnings and slow deleveraging potential in 2020

GlaxoSmithKline plc: Update to credit analysis

Our credit view of GlaxoSmithKline, reflecting some expected improvement in the company's credit metrics but remaining uncertainty surrounding its diversification profile

GlaxoSmithKline plc - September 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/30/2020

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/04/2020

...

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2020

We estimate that net current cash flow per share for the property companies we cover will be reduced on average by -11.3% in 2020e and -6.0% in 2021e. Retail property companies are likely to be hit the hardest while office and healthcare property groups should prove more resilient. Our Top Picks against this backdrop are Gecina and Colonial in office property, Cofinimmo in healthcare property and Klépierre in retail property. We downgrade Merlin Properties from Buy to Neutral. - ...

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/04/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Stephane Houri
  • Team Pharma

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/10/2020

...

GLAXOSMITHKLINE PLC. loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of GLAXOSMITHKLINE PLC. (GB), active in the Pharmaceuticals industry. The title has lost a star(s) at the fundamental level and now shows 3 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date May 19, 2020, the closing price was GBp 1,660.60 and its potential was estimated at GBp 1,820.72.

Ford Equity US Rating and Forecast Report

Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

GlaxoSmithKline – AGM 6 May 2020

Items 2-3: Remuneration report and policy   The executive incentive is highly excessive with a maximum of 800% of base salary. The qualitative criteria count for 30% of the bonus and vest in full. There is a weak alignment between the executive remunerations, shareholder interests and GlaxoSmithKline (GSK) performance. The quantum for the year is also excessive: Emma Walmsley's 2019 remuneration corresponds to 219% of the UK median remuneration in the MSCI Europe index or 290% of the Healthcare sector median.   Item 15: Re-election of Mr. Rohner, Chair of the Remuneration committee   ECG...

Expert Corporate Governance Service (ECGS)

GlaxoSmithKline - AGM 08 May 2019

The AGM is followed by an EGM to be held at 15:30 in the same location.  AGM Item 2: Approve the Remuneration Report The remuneration structure is unsatisfactory.  The main concern is the potential for excessive incentive pay with a maximum of 850% of base salary.  In addition, the use of qualitative criteria exceeds guidelines and accelerated vesting is possible.  The quantum for the year is also considered excessive.  We recommend shareholders oppose.  EGM Item 1: To approve the transaction between GlaxoSmithKline Consumer Healthcare Holdings Ltd and Pfizer Inc The Company is seeking sha...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 04/05/2017

Sir Andrew Witty will be stepping down as CEO with effect from 31 March 2017 and will be succeeded by Emma Walmsley. Dr Patrick Vallance joined the Board in his role as President, R&D on 1 January 2017. Item 2: Approve the Remuneration Report. The remuneration structure is unsatisfactory. Variable remuneration has the potential to be excessive and the actual awards exceeded guidelines. Item 15: Re-appoint the Auditor. PricewaterhouseCoopers LLP (PwC) have been the Group

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