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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlaxoSmithKline    GSK   GB0009252882

GLAXOSMITHKLINE

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GlaxoSmithKline to look for early-stage assets - CEO

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01/08/2019 | 12:12pm EDT
FILE PHOTO: GlaxoSmithKline CEO, Emma Walmsley, arrives for a meeting in Downing Street in central London

(Reuters) - GlaxoSmithKline Plc will actively look to buy early-stage assets and partner with companies, the drugmaker's chief executive officer said on Tuesday.

Britain's biggest drugmaker is also likely to evaluate licensing deals and would continue to invest in early-stage HIV treatments, CEO Emma Walmsley said at the JP Morgan healthcare conference in San Francisco.

Walmsley said the company had extensive plans for its experimental drug to treat multiple myeloma, which targets a protein called BCMA, adding that it could be launched by 2020.

On the company's portfolio of cancer medicines, she said GlaxoSmithKline had almost doubled the size of its immuno-oncology pipeline over the past few months.

The company's plan to acquire U.S.-based Tesaro for $5.1 billion (£4 billion) in December is among several large healthcare deals in recent months to pump money into cancer drug development.

That was followed by Bristol-Myers Squibb Co's $74 billion deal to buy Celgene Corp and Eli Lilly & Co's $8 billion acquisition of Loxo Oncology earlier this month.

In what was widely considered a bold move on Walmsley's part, last month GlaxoSmithKline also said it would split into two businesses after forming a new joint venture with Pfizer consumer health division.

(Reporting by Tamara Mathias in Bengaluru; Editing by Arun Koyyur)

Stocks mentioned in the article
ChangeLast1st jan.
BRISTOL-MYERS SQUIBB COMPANY 1.37% 48.21 Delayed Quote.-8.50%
CELGENE CORPORATION 0.82% 97.3 Delayed Quote.50.59%
ELI LILLY AND COMPANY 1.49% 113.4 Delayed Quote.-3.44%
GLAXOSMITHKLINE 0.25% 1588.4 Delayed Quote.6.52%
LOXO ONCOLOGY INC 0.00%End-of-day quote.0.00%
PFIZER 0.28% 42.88 Delayed Quote.-2.04%
TESARO INC 0.03% 74.96 End-of-day quote.0.96%
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Financials (GBP)
Sales 2019 31 784 M
EBIT 2019 8 264 M
Net income 2019 4 232 M
Debt 2019 24 166 M
Yield 2019 5,11%
P/E ratio 2019 18,21
P/E ratio 2020 17,89
EV / Sales 2019 3,22x
EV / Sales 2020 2,92x
Capitalization 78 072 M
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Mean consensus HOLD
Number of Analysts 20
Average target price 16,4  GBP
Spread / Average Target 4,8%
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Managers
NameTitle
Emma Walmsley Chief Executive Officer & Executive Director
Philip Roy Hampton Non-Executive Chairman
Simon Paul Dingemans Chief Financial Officer & Executive Director
Karenann K. Terrell Chief Technology & Digital Officer
Hal V. Barron Executive Director & Chief Scientific Officer
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