Shares in GlaxoSmithKline (GSK) fell marginally early Monday even after the British drugmaker trumpeted the commercial potential of Morez, its experimental cancer drug.
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“Do we think it would be a blockbuster? Yes, absolutely,” Hesham Abdullah, GSK’s senior vice president and global head of oncology research and development, told journalists on Sunday in a call.
GSK Shares Early Results for Morez
The top executive stated this while discussing early data on the treatment, which is still being studied in two late-stage trials and is scheduled for more.
Abdullah noted that 62% of patients with platinum-resistant ovarian cancer experienced a meaningful shrinkage in tumor size, while a similar effect was seen in 67% of those with endometrial cancer.
GSK Races Toward £40B in Sales by 2031
The bullish view comes as the London-based biopharmaceutical company, which sold its oncology portfolio to Swiss drugmaker Novartis (NVS) in 2015, has been working to boost its presence in the market. GlaxoSmithKline aims to generate about £2 billion ($2.7 billion) in sales for Morez.
Oncology has emerged as a key growth driver for the British drugmaker, known for its vaccines and medications for respiratory diseases. In 2025, GSK expanded its sales to £32.7 billion, up by 7% at a constant exchange rate.
Under its specialty medicines segment, oncology drove the biggest sales, rising by 43% to reach £2 billion.
GlaxoSmithKline plans to hit £40 billion in sales by 2031, with the majority of the earnings expected from its on-market products — this has emerged as a source of concern for some investors. The company’s oncology business is expected to play an important role in hitting this sales target.
Is GSK Good Stock to Buy?
On Wall Street, GlaxoSmithKline’s shares have a Hold consensus rating from analysts. This is based on three Holds issued over the past three months.
Moreover, the average GSK price target of $62 only implies about 7% upside from current trading levels.
