GSK CEO Sees Oncology Business as Underappreciated
Dow Jones
Oct 08
1208 GMT - GSK CEO Luke Miels sees the U.K. drugmaker's oncology business as underappreciated by the market and expects upcoming updates at a medical congress to boost investors' confidence, J.P. Morgan analysts say, citing a recent call with Miels. "[Miels] reiterated his confidence in delivering GSK's 2031 sales target of [more than 40 billion pounds], pointing to the breadth and depth of the portfolio, particularly in oncology, which [Miels] sees as underappreciated by consensus," the analysts say in a note. GSK expects to provide updates on its oncology portfolio at the annual congress of the European Society For Medical Oncology, which Miels expects will improve confidence in the pipeline, JPM says. Shares fall 1.8%.
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