GSK gains hinge on new launches, base biz traction

Stock may not see near-term recovery, with weak show in Indian pharma mkt

- RAM PRASAD SAHU

The stock of Glaxo SmithKline Pharmaceuticals or GSK Pharma has shed a fifth of its value over the last three months. The weakness in the stock is largely on account of a muted performance in the first quarter of 2025-26 (Q1FY26).

The Q1 was impacted by sluggish show of the base business and supply disruption, resulting in brokerages cutting their earnings estimates. While new launches, especially in the vaccine and specialty segments, and a recovery in the general medicines are key triggers, the stock may not see a recovery in the near term, given the growth underperformance in the Indian pharma market in recent months.