Pleasant Surprise For GSK: FDA Approves Bone Marrow Cancer Therapy Acquired Via Sierra Oncology Deal
Portfolio Pulse from Vandana Singh
The FDA has approved GSK plc's (NYSE:GSK) Ojjaara (momelotinib) for the treatment of intermediate or high-risk myelofibrosis in adults with anemia. GSK acquired the blood cancer therapy from Sierra Oncology Inc. for $1.9 billion. This comes as a surprise after the European Medicines Agency's human medicines committee recommended not renewing the conditional marketing authorization for Blenrep, another GSK drug. GSK shares are up 1.23% in premarket trading.
September 18, 2023 | 10:54 am
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POSITIVE IMPACT
FDA approval of GSK's Ojjaara is a positive development for the company, especially after recent setbacks with Blenrep. This could potentially boost GSK's stock in the short term.
The FDA approval of Ojjaara is a significant milestone for GSK, especially considering the recent setback with Blenrep. This approval could potentially open up a new revenue stream for GSK and positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100