GlaxoSmithKline: The reorganisation of R&D may take some time (
GlaxoSmithKline: (NEUTRAL, Fair Value 1670p (+7%))The reorganisation of R&D may take some time
GSK has published good set of figures for Q2 2018 and has without any surprise increase its FY guidance. The good news is that this Q2 has shown that GSK will be abli to navigate through the Advair negative impact of generics. The investors meeting was focused on R&D with the 1st presentation from the new CSO, Hal Barron. Our feeling is that he wants recreate the Genentech (where he came from) spirit: focus on immunology, uses of databases and machine learning. But the positive impact (if any) will not be seen before 2020/2021. This could be seen as a lack of catalysts.
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.
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