GSK sees £3 billion wiped off value in response to mixed Phase III Relovair data
This article was originally published in Scrip
Executive Summary
GlaxoSmithKline saw just over 4% of its value (£3 billion) wiped off on 9 January as the market reacted mixed top-line data, released by the company and partner Theravance, from nine trials of Relovair, a drug combining fluticasone furoate, an inhaled corticosteroid, and vilanterol, a long-acting beta2 agonist (LABA), to treat chronic obstructive pulmonary disease (COPD) and asthma. Theravance shares were also marked down $3.81 (19%) on the day to close at $16.39.