GlaxoSmithKline: Unfairly Beaten Given Strategic Direction


GlaxoSmithKline PLC (NYSE: GSK) is a global pharmaceutical giant that is trading below intrinsic value. The company’s real focus is on scale and innovation – providing much of the world with the drugs and medications it needs while containing an expansive list of patent-protected drugs in late stage development. Over 59% of the company’s revenues is based on prescription drugs while vaccines and consumer drugs make up 16% and 25%, respectively. The company is forecasting mid-single digit growth for all groups with earnings from 2016-2020 to hit high single digit CAGR.

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Disclosure: Logos LP has no position in GSK.