Viiv Healthcare, Majority Owned By GSK, With Pfizer And Shionogi, Has Filed A New Drug Submission To Health Canada For Cabotegravir Long-acting Injectable And Tablets For Pre-exposure Prophylaxis; The Submission Is Being Reviewed Under Priority Review
Portfolio Pulse from Benzinga Newsdesk
ViiV Healthcare, which is majority-owned by GSK and has Pfizer and Shionogi as stakeholders, has submitted a New Drug Submission for Cabotegravir to Health Canada for Pre-exposure Prophylaxis (PrEP). The submission is currently under priority review, which could expedite the approval process.
January 10, 2024 | 1:16 pm
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POSITIVE IMPACT
GSK, as the majority owner of ViiV Healthcare, could see a positive impact on its stock if Cabotegravir is approved for PrEP by Health Canada, especially with the priority review status which may speed up the process.
The news of a priority review for a new drug submission is generally positive for the majority stakeholder, as it indicates a higher likelihood and a faster timeline for potential revenue from the new product. GSK's significant ownership in ViiV Healthcare means that the success of Cabotegravir could have a meaningful impact on GSK's financials and investor sentiment.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Pfizer, as a stakeholder in ViiV Healthcare, may experience a favorable impact on its stock price if Cabotegravir is approved for PrEP by Health Canada, particularly due to the priority review which suggests a quicker approval process.
Pfizer's involvement with ViiV Healthcare means that the company stands to benefit from the success of Cabotegravir. While the impact may be less direct than for GSK due to the smaller stake, positive regulatory developments can still contribute to investor optimism and potential stock price increases for Pfizer.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60