GSK has 40 new medicines in its pipeline, and half of these could be released in the next 10 years
GSK has revealed it has 40 new drugs in the pipeline, including medicines to treat HIV and respiratory diseases.
The British pharmaceutical company, which recently rejected a takeover approach from Pfizer, said during a presentation to investors in New York today that half of these could be released by the end of 2020. Seven are in late-stage development and could be released much sooner.
The company also said it expected around 80 per cent of the new additions to its portfolio to be “first-in-class”, using new methods of action that are not currently available.
Read more: GSK share price rises as sales jump 11 per cent
Chief executive Andrew Witty commented that the new medicines and vaccines would “support future growth” within the company.
Several of these assets are in advanced late-stage development and, for the first time, we have also outlined the scale of new opportunities GSK has in earlier stages of development, notably in areas such as oncology and immuno-inflammation.
The level of innovation in this portfolio is substantial. We believe this is critical in today’s operating environment as payors look to balance pressures of pricing and demand. It also provides us with confidence that this portfolio can generate significant value for shareholders and deliver widespread benefits to patients and consumers.
The news hasn't blown away investors, however, with share price currently down just 0.9 per cent at £13.84.