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GSK Shares Surged 5.63% After Settling Court Case, Recent News

Simon Mugo trader
Updated 23 Jun 2023

The GSK plc (LON: GSK) share price surged 5.63% after announcing that it had reached a confidential settlement with James Goetz, and the case he filed in California state court, set to begin trial on July 24, 2023, will be dismissed.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Investors celebrated the dismissal of the case, which the global pharma company saw fit to settle instead of proceeding to a court trial that could have dragged on for months or years, taking away attention from the development of the drug in question, Zantac (Ranitidine).

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However, we could also attribute the stock’s positive performance to GSK’s recent releases, including yesterday’s recommendation of the company’s Arexvy (respiratory syncytial virus vaccine, adjuvanted) in adults aged 60 and older by the US Centers for Disease Control and Prevention's (CDC) Advisory Committee on Immunization Practices (ACIP). 

The CIP voted in favour of authorising the drug for use in adults aged 60 and older via shared clinical decision-making, which empowers patients in consultation with their healthcare providers to determine whether RSV vaccination is appropriate for them.

An estimated 55.8 million people aged 65 and older in the US are at increased risk of RSV, a common, contagious virus that can lead to severe respiratory illness. About 177,000 patients are hospitalised with RSV, and approximately 14,000 die annually. 

Tony Wood, GSK’s Chief Scientific Officer, said: “GSK's successful development of an RSV vaccine to help protect older adults from RSV lower respiratory tract disease (LRTD) represents a major scientific advance, resulting from years of collaboration across academia, industry, and research centres. We are grateful to the ACIP and CDC for recognising the potential of Arexvy and look forward to partnering with public health officials, healthcare professionals and payers to make it available for eligible older adults in the US before this year's RSV season begins.”

GSK had released new data from the ongoing AReSVi-006 phase III trial showing vaccine efficacy against RSV-lower respiratory tract disease and severe disease over two full RSV seasons, including in participants with underlying medical conditions. 

*This is not investment advice. 

The GSK share price. 

The GSK share price rallied 5.63% to trade at 1432.70p, from Thursday’s closing price of 1356.30p.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading