November 19, 2021 – It’s never a bad idea to expand your stock portfolio, especially in the drug and biotech sector. For those that are looking to invest in a drug and biotech company GlaxoSmithKline is a good option. According to a report by Yahoo Finance, “Glaxo boasts a diversified base and presence in different geographical areas” and has made “significant progress in expanding into emerging markets”.
Glaxo earnings have increased 9.7% for 2021 and 6.2% for 2022 over the last couple of months. Below, there are several reasons to consider adding Glaxo to your stock portfolio.
Successful new product launches
Glaxo is introducing new and specialty products like Nucula, Trelegy Ellipta, Shingrix and Juluca, that are driving sales for the company. These products increased sales 18% for Glaxo in 2021. By continuing to introduce new products, Glaxo is ensuring it’s relevance for stockholders in an ever-changing and dynamic market.
Strong pipeline
Glaxo continues to make significant progress in its pipeline and is expected to introduce several new drug and line extension approvals in 2021 and 2022. Yahoo Finance reports that in 2020, “Glaxo established multiple partnerships to develop next-generation mRNA COVID vaccines. It entered into a partnership with Sanofi (SNY) to make an adjuvated COVID-19 vaccine.”
Focus on oncology
In the field of oncology, Glaxo is working to develop 15 potential medicines. Glaxo and Pfizer merged their consumer healthcare units into a joint venture, where Glaxo owns a controlling stake of 68%. This joint venture operates globally as GSK Consumer Healthcare.
Yahoo Finance writes that Glaxo “intends to separate its consumer healthcare segment into a standalone company in 2022. The spin-off of the consumer unit will allow it to focus on its drug development, mainly in oncology.” Additionally, Glaxo’s ovarian cancer drug Zejula was approved for late-stage ovarian cancer in 2019.
Because of its reliability and continued performance, GlaxoSmithKline is an excellent choice for the curious investor who is looking to expand their stock portfolio. With rapid pipeline development and consistently strong drug sales, the stock will likely continue to perform in 2022.