1242 GMT - GSK's plan to open a new research-and-development center in Cambridge, England, looks like a smart move that bodes well for its future prospects, Bernstein analysts say in a research note. "We view this as a sound investment as this site already houses a major [AstraZeneca] R&D hub and two world leading academic hospitals," the analysts say. "We think this should increase GSK's R&D productivity long term due to greater collaborations with academia." The U.K. drugmaker also plans more than 20 late-stage clinical trials to start this year, and is launching a three-year program to cut costs and fund investment in its late-stage portfolio, Bernstein says. Shares rise 1.4%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.