GSK chief executive officer Emma Walmsley stated that the company has played a minimal role in the U.S. Food and Drug Administration’s (FDA) request to update the prescribing information for leucovorin, a drug originally approved in 1983. The FDA’s administrative request aims to allow the long-shelved drug to be used for treating cerebrate folate deficiency, a neurological condition with symptoms overlapping those of autism. Walmsley emphasized that GSK has no commercial interest or ongoing research related to the drug, which it ceased marketing in 1997. However, the update will enable generic manufacturers to pursue the label change, potentially expanding treatment options.
In a separate development, AstraZeneca received a rare sell rating from Deutsche Bank AG analysts, who expressed skepticism regarding the drugmaker’s pipeline, particularly concerning breast cancer therapies. Analyst Emmanuel Papadakis downgraded the stock from hold, lowering the price target to $140, which reflects a 16% decline from current levels. This marks a shift in sentiment, as the analyst had previously recommended a buy in July 2023. Concerns center on AstraZeneca’s key breast cancer drug, camizestrant, which is perceived as unlikely to outperform competitors, coupled with mounting pressures from patent expirations.
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