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Hedge Fund Citadel made a bet of £ 305 million Drugmaker GSKThe biggest short position against the company in more than ten years.
Billionaire Hedge Fund Ken Griffin According to the Office for Financial Behavior, Brantout Point Provider, which entered a net short position, compiled the company, on Tuesday, entered a clean short position.
According to FCA, any company was the last time the company published a bet against the FTSE 100 pharmaceutical group.
GSK shares have increased by 11 percent in the last month because the drug manufacturer has increased its long -term sales forecast and started Rare purchase of shares of 2 billion £ At the beginning of this month. GSK showed better than expected incomes when selling HIV drugs and cancer medicines.
However, the shares lagged for competing pharmaceutical companies because drug manufacturers failed to invest over their pipeline for new medicinal products and vaccines, which must later face a patent cliff in decades. Over the past five years, GSK shares have fallen by 15 percent compared to the S&P 500 pharmaceutical index, which increased by 45 percent.
Emma Walmsley, the CEO of GSK, already faced a battle against an activist investor when the Hedgeot Fund Elliott Management built a multibilion in 2021 in 2021. have a scientific background. GSK also tried to consider the offer of takeover for his consumer health business Haleon, that was later cut off.
JPMORGAN analysts said the fourth quarter revenues and the company's instructions for 2025 were “positive”. However, they added: “We believe that the market can also challenge the logic of back -off from the beginning of the HIV patent cliff with a relatively thin late stage pipe”. Barclays analysts also said that the purchase of shares is “unexpected”, but analysts in Jefferies said that this step was “well taken”.
GSK shares collapsed in August 2022, when there were litigation over the drug Zantac. However, when GSK settled in October last year the vast majority of cases for $ 2.2 billion, shares did not return to their previous level.
The company also suffered from unexpected bad news for two key products. In 2022, GSK withdrew his cancer medicine Blenrep from the US market after the court had not met the FDA requirements for medicines that had received accelerated consent. After further studies, the company now expects the regulatory body to be re -approved by July 2025.
The sale of Arexva, his vaccine for respiratory syncytial virus, known as RSV, fell in the second half of last year, because the American advisory panel unexpectedly recommended to reduce its use.
The Citadel is a World Hedge Fund in the world, according to LCH Investments, an investor in Hedge Funds. The company is located hundreds of business teams that bet on a wide range of assets, including shares. The Citadel manages investor capital worth $ 65 billion since the beginning of the year and increased by 15.1 %in 2024.
GSK shares were lower by 0.5 % to 1,438p at the end of Friday's trading in London.
She refused to comment on the Citadel because the company does not discuss its positions. GSK refused to comment because the company does not discuss individual shareholders.
