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GSK starts £450 million buyback tranche as EU approves Exdensur drug

ALN

GSK PLC on Tuesday announced the beginning of the fourth tranche of a £2 billion buyback programme, worth £450 million.

In a separate announcement, the London-based pharmaceutical firm said Exdensur, the brand of name of the anti-asthma drug depemokinab, received European Commission approval.

The buyback tranche kicks off on Tuesday and is expected to be completed by April 24.

All purchases made by BNP Paribas SA on behalf of GSK will take place on the London Stock Exchange or CBOE’s European exchanges. The shares will then be held in treasury.

Meanwhile, Exdensur’s approval in the EU marks the fourth regulatory approval for the drug, which is an injectable solution meant to treat asthma with type 2 inflammation, and chronic rhinosinusitis with nasal polyps.

The EU’s green-lighting of the drug follows marketing authorisation from the US Food & Drug Administration, the UK’s Medicines & Healthcare products Regulatory Agency, and Japan’s Ministry of Health.

GSK said three million people in the EU live with severe asthma in Europe, and trial results for the ‘first and only ultra-long-acting biologic’ drug against regulatory diseases showed significant reductions in annualised asthma attacks and a reduction in nasal obstruction caused by polyps.

Shares in GSK were up 2.3% at 2,235.00 pence each in London on Tuesday at midday.

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