GSK Pharma: Near term headwinds may keep stock prices under pressure

Topics GSK | GSK Pharma | Coronavirus

The GlaxoSmithKline Pharma (GSK Pharma) stock has dipped 7 per cent from its May highs, on worries that lower incidence of acute infections could lead to a fall in sales. Some brokerages have downgraded the stock due to a weak near-term outlook.  Vinay Bafna and Sriraam Rathi of ICICI Securities have reduced their net profit estimates for FY21 and FY22 by 12-14 per cent, factoring in the near-term pressure caused by Covid-19, adoption of a healthier lifestyle, and social distancing that will affect acute therapy sales.   Worries on the acute therapy front arise from .....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.