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(Sharecast News) - Drugmaker GSK has been tapped as a potential target for activist investors, according to Bloomberg, which noted that shares had fallen roughly 19% since spinning off its consumer health business in 2022.
GSK noted that analyst sentiment has been turning "more negative" as patents for medicines, including its HIV treatment dolutegravir, were set to expire in the next few years.
GSK said it had made progress in the late-stage development of multiple oncology drugs. However, it also said vaccine sales were on the decline.
The company was previously under pressure from Elliott Investment Management and Bluebell Capital Partners, who both broadly agreed with plans to spin off the consumer health unit, but questioned whether chief executive Emma Walmsley was the right person to lead GSK into the future.
As of 1355 GMT, GSK shares were down 2.02% at 1,417.80p.
Reporting by Iain Gilbert at Sharecast.com
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