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GSK

GlaxoSmithKline

$35.99

0.5 (1.41%)

07:42
02/07/18
02/07
07:42
02/07/18
07:42

GlaxoSmithKline says 2018 adjusted EPS growth uncertain due to Advair

CEO Emma Walmsley said: ""Looking ahead, in 2018 we could see a potential generic version of Advair in the US and our 2018 guidance reflects this. With the sales momentum we anticipate from new and recent launches and focused improvements in operating performance we are increasingly confident in our ability to deliver mid to high single digit growth in Adjusted EPS CAGR in 2016-2020 at 2015 CER. Cash generation also continues to be a key focus with free cash flow for the year improving to GBP 3.4B. We met our commitment to pay a total dividend of 80p for 2017 and continue to expect to pay 80p for 2018." The Group expects to make continued progress in 2018, although the expectation for Adjusted EPS growth is impacted by a number of factors including, in particular, uncertainties relating to the timing and extent of potential generic competition to Advair in the US. In the event that no substitutable generic competitor to Advair is introduced to the US market in 2018, the Group expects 2018 Adjusted EPS growth of 4 to 7% at CER. This is based on an expected decline in 2018 US Advair sales of 20-25% at CER. In the event of a mid-year introduction of a substitutable generic competitor to Advair in the US, the Group expects full year 2018 US Advair sales of around GBP 750 million at CER, with Adjusted EPS flat to down 3% at CER. The effective tax rate for 2018 is expected to be approximately 19-20% of Adjusted profits after the impact of US tax reform which is expected to benefit the Group effective tax rate by two to three percentage points. If exchange rates were to hold at the average rates for January 2018 for the rest of 2018, the estimated negative impact on full-year 2018 Sterling turnover growth would be around 4% and if exchange gains or losses were recognized at the same level as in 2017, the estimated negative impact on 2018 Sterling Adjusted EPS growth would be around 6%.

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GSK GlaxoSmithKline
$35.99

0.5 (1.41%)

01/16/18
LEHM
01/16/18
UPGRADE
LEHM
Overweight
GlaxoSmithKline upgraded to Overweight from Equal Weight at Barclays
01/16/18
LEHM
01/16/18
UPGRADE
LEHM
Overweight
GlaxoSmithKline upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Emmanuel Papadakis upgraded GlaxoSmithKline to Overweight from Equal Weight and raised his price target for the shares to GBP 16.50 from GBP 14.50. The analyst believes concerns are now reflected in the valuation and consensus expectations while HIV and shingles offer "sustainable drivers of mid-term growth."
01/22/18
WBLR
01/22/18
NO CHANGE
WBLR
Outperform
Dynavax has sold off 30% since Heplisav approval, says William Blair
Dynavax (DVAX) shares have pulled back about 30% since the U.S. approval of Heplisav, the first and only two-dose hepatitis B vaccine that has demonstrated "superiority in efficacy and comparability" in safety to the standard of care, GlaxoSmithKline's (GSK) Engerix-B, William Blair analyst Katherine Xu tells investors in a research note. The analyst attributes the selloff to Dynavax electing to launch Heplisav on its own and the Street having insufficient confidence in the launch. She believes Heplisav has peak U.S. sales prospects of $600M and "provides a valuation floor." Xu also sees catalysts on the oncology side of the business. She maintains an Outperform rating on Dynavax with a $40 per share fair value estimate.
01/22/18
WELS
01/22/18
NO CHANGE
WELS
Underperform
Teva can't afford more pipeline setbacks, says Wells Fargo
After Teva (TEVA) reported that its Phase 3 registration study evaluating subcutaneously administered reslizumab in a pre-filled syringe did not meet its primary endpoint, Wells Fargo analyst David Maris said he believes this puts Teva at a disadvantage versus peers AstraZeneca (AZN) and GlaxoSmithKline (GSK) at a time when Teva cannot afford more pipeline setbacks. Subcutaneous reslizumab was not a major focus, but the news is still "another disappointment," said Maris, who keeps an Underperform rating on Teva shares.

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DOVA

Dova Pharmaceuticals

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SPY

SPDR S&P 500 ETF Trust

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S&P 500

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SPX

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OMAB

OMA Airports

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0.33 (0.80%)

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AIV

Aimco

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0.28 (0.74%)

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Aimco acquires Bent Tree apartment community for $160M »

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KDMN

Kadmon

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ASR

Asur

$182.83

1.49 (0.82%)

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USB

U.S. Bancorp

$54.27

-0.83 (-1.51%)

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Periodicals
Judge criticizes U.S. Bancorp deal to sidestep prosecution, Bloomberg reports »

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KZIA

Kazia Therapeutics

$4.99

0.43 (9.43%)

18:36
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Kazia granted orphan status for glioblastoma treatment »

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OBE

Obsidian Energy

$0.98

0.0183 (1.91%)

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OBE

Obsidian Energy

$0.98

0.0183 (1.91%)

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SSRM

SSR Mining

$8.33

0.06 (0.73%)

18:27
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SSR Mining reports Q4 adjusted EPS 2c, consensus 7c »

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SSRM

SSR Mining

$8.33

0.06 (0.73%)

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SSR Mining sees 2018 gold production 340K gold equivalent ounces »

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IVC

Invacare

$17.97

-0.28 (-1.53%)

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Invacare names Kathleen Leneghan as CFO, effective immediately »

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SHCAY

Sharp

$8.21

-0.025 (-0.30%)

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Sharp drops legal action against Hisense over TV brands, Nikkei reports »

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GM

General Motors

$40.91

0.35 (0.86%)

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GM seeks South Korean aid to bolster local unit, Nikkei Asian Review reports »

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SJI

South Jersey Industries

$26.34

0.23 (0.88%)

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TRTN

Triton International

$28.16

-0.4 (-1.40%)

18:13
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Earnings
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SJI

South Jersey Industries

$26.34

0.23 (0.88%)

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Earnings
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PAA

Plains All American

$20.97

-0.43 (-2.01%)

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Plains All American's Cactus II pipeline fully committed »

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STX

Seagate

$51.36

-0.08 (-0.16%)

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Initiation
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WDC

Western Digital

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HPQ

HP Inc.

$21.39

0.22 (1.04%)

17:56
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