: GSK shares lower as UBS downgrades pharma giant to sell


Shares of GSK GSK, -4.53% fell nearly 4% in London as UBS downgraded the pharmaceutical giant to sell from neutral. “We see two factors posing risks to the earnings base longer term – blockbuster vaccine Shingrix will exhaust its catch-up patient pool in the U.S. around ’27 and HIV product
dolutegravir faces patent expiry at the same time. We think this could erode c20% of revenues,” the broker said, as it also reduced its price target to 1300 pence ($30.56 per ADR) from 1820 pence.

This article was originally published by Marketwatch.com. Read the original article here.

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