GSK’s Beaten-Down Shares Seen at Risk of New Activist Campaign

GSK Plc is a long-term underperformer among Europe’s Big Pharma stocks. And with key drug patents set to expire and vaccine sales falling, some market participants say it may draw in activist investors again.

Shares in the British drugmaker have fallen about 17% since it spun off its consumer health business in 2022, a move that activists had supported. Analyst sentiment has been turning more negative, as patents for medicines including HIV treatment dolutegravir are set to expire in coming years. GSK said this month that it’s making progress in late-stage development of several oncology drugs, though vaccine sales are ...