GSK (GSK) Scores Win in the Form of Lung Cancer Drug's Orphan Drug Designation

We recently published 13 Best ADR Stocks to Invest In.  GSK plc (NYSE:GSK) is one of the best ADR stocks.

GSK plc (NYSE:GSK) is one of the largest pharmaceutical companies in the world. The firm scored a major win on December 10th after the Food and Drug Administration (FDA) granted its lung cancer drug risvutatug rezetecan the Orphan Drug Designation. Such a designation allows drugs with small target populations to receive financial incentives, such as tax breaks, to spur research and development. GSK plc (NYSE:GSK)’s risvutatug rezetecan, also called the GSK’227, received the FDA’s designation after its phase 1 clinical trials called ARTEMIS-001 showed positive responses in patients with serious small-cell lung cancer. GSK plc (NYSE:GSK) also shared additional details about the small-cell lung cancer (SCLC) market. According to the firm, this cancer accounts for 13% of all cancers in America, with 29,500 people expected to be diagnosed with the disease.

Investment bank JPMorgan kept a Sell rating and a £17 share price target for GSK plc (NYSE:GSK) on December 8th. The firm’s subsidiary, TESARO, is currently in a court battle with biotechnology firm AnaptysBio. The tussle surrounds license requirements, with the GSK plc (NYSE:GSK) subsidiary insisting that it is entitled to reduce royalty payments and obtain a perpetual license for the drug dostarlimab. On the other hand, Anaptys insists that TESARO failed to fulfill its license obligations dating to March 2024.

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Disclosure: None. This article is originally published at Insider Monkey.