J.P. Morgan Maintains a Sell Rating on GSK plc (GSK)

Group 1: Company Overview - GSK plc, formerly known as GlaxoSmithKline, is a global biopharma company based in the United Kingdom, developing and distributing a range of vaccines, medications, and consumer health items [6] - The company has over 20 vaccines in its portfolio and develops cancer treatments for multiple myeloma, ovarian cancer, and endometrial cancer, among others [6] Group 2: Recent Developments - On November 20, GSK's subsidiary, TESARO, Inc., initiated litigation against AnaptysBio, Inc. in the Delaware Chancery Court, claiming a material breach of the existing license agreement regarding Jemperli [2][4] - TESARO asserts its right to terminate the current license agreement due to the alleged breach, which would allow for a 50% reduction in royalties and milestone payments owed to AnaptysBio and secure a perpetual and irrevocable license to dostarlimab [3] Group 3: Product Performance - Jemperli is approved in over 35 countries for specific endometrial cancers, which is the most common gynecologic cancer in the United States [5] - GSK and TESARO have reported significant growth for Jemperli, supported by label expansions in endometrial cancer in both the EU and the US, with ongoing clinical programs evaluating its potential use in other cancers such as colon, rectal, and head and neck [5]