(CercleFinance.com) – UBS downgrades its recommendation on GlaxoSmithKline (GSK) from ‘neutral’ to ‘sell’ with a price target reduced from 1,820 to 1,300 pence, the broker declaring that he perceives ‘uncertain times ahead’ for the pharmaceutical company British.
“As Shingrix will exhaust its patient base in the United States at the same time that dolutegravir loses patent protection, much of GSK’s profits could be at risk,” he warns in the summary of his research note.
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