SOURCE: Leerink Swann & Company

August 26, 2005 06:00 ET

Leerink Swann & Company Initiates Coverage of GlaxoSmithKline plc (NYSE: GSK) and (LSE: GSK)

BOSTON, MA -- (MARKET WIRE) -- August 26, 2005 -- Yesterday after the close, Senior Large Cap Pharmaceuticals Analyst, Andrew Oh, initiated coverage of GlaxoSmithKline plc with a Market Perform rating. While Mr. Oh forecasts strong near-term earnings growth for GlaxoSmithKline (16% in 2005 and 12% in 2006) and views the breadth of its pipeline as impressive, he believes that the company is fairly valued at present due to the uncertain quality of the pipeline and upcoming exclusivity losses that will temper longer-term earnings growth.

About GlaxoSmithKline plc

GlaxoSmithKline plc (NYSE: GSK) and (LSE: GSK) GlaxoSmithKline operates a consumer healthcare and a pharmaceuticals segment. Its products account for about seven percent of the worldwide pharmaceuticals market, and the company is a leader in developing agents for four therapeutic categories -- anti-infectives, central nervous system (CNS), respiratory and gastro-intestinal/metabolic. Its consumer healthcare portfolio comprises over-the-counter (OTC) medicines, oral care products and nutritional healthcare drinks. GlaxoSmithKline has operations in the United States and is headquartered in London.

About Leerink Swann & Company

Leerink Swann & Company is an investment banking firm that provides healthcare equity research, corporate finance, and asset management services for institutional and high-net-worth clients. Leerink Swann & Company was voted the Best Firm in Biotechnology, Medical Supplies and Devices, Pharmaceuticals/Major and Pharmaceuticals/Specialty in the December 2004 Institutional Investor poll ranking the best boutique and regional firms by sector. Through its consulting affiliate, MEDACorp, Leerink Swann & Company provides biomedical-consulting services to Life Sciences companies and to the institutional investment community. MEDACorp includes thousands of biomedical professionals and practicing physicians. Leerink Swann & Company is a member NASD/SIPC.

Contact Information

  • Contact:
    John I. Fitzgerald
    Leerink Swann & Company
    (617) 918-4564
    www.leerink.com