Reported about 11 hours ago
GSK's stock fell over 6% after a U.S. FDA advisory panel recommended against the approval of its blood cancer drug Blenrep, citing safety concerns. This setback comes as GSK aimed to revive Blenrep following its withdrawal from the U.S. market in 2022 due to a failed study. Analysts predict the FDA will reject the drug, forcing GSK to lower its sales targets, particularly as it prepares for declining revenues from existing products and upcoming patent expirations.
Source: YAHOO