GlaxoSmithKline Pharma, India unit of UK's GSK, jumps most in 1 month

GlaxoSmithKline Pharmaceuticals

07/12/2022 09:34

** Shares of GlaxoSmithKline Pharmaceuticals Ltd  GLAX.NS 
rise as much as 2.43% to 1,360.40 rupees, highest since Nov. 4
    ** GLAX's London-based parent GSK plc  GSK.L , on Tuesday
was spared by a U.S. federal court from lawsuits that claimed
heartburn drug Zantac causes cancer (Read more)
    ** The U.S. court said lawsuits filed against Zantac sellers
GSK, Pfizer Inc  PFE.N , Sanofi SA  SASY.PA  and Boehringer
Ingelheim were not backed by sound science(Read more) 
    ** GLAX eyes biggest intra-day jump in nearly 2 weeks
    ** ~51,500 shares change hands by 2:45 p.m. IST vs 30-day
avg of ~66,400 shares
    ** Three of the 7 analysts covering the stock have a "buy"
or higher rating, two recommend "hold," while two rate it at
"sell;" median PT is 1,456 rupees - Refinitiv data
    ** Up to last close, stock down 21.3% YTD vs 8.9% fall in
Nifty Pharma index  .NIPHARM  
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))