Upbeat UK Companies At Goldman Sachs Conference
The three top UK pharmaceutical companies, Glaxo Wellcome, SmithKlineBeecham and Zeneca, gave particularly upbeat presentations at this year's Goldman Sachs Healthcare conference in the USA.
Zeneca, which is rated a "market outperformer" by GS analysts Mark Tracey and John Murphy, spoke of its efforts to expand its strong cancer-care franchise, and its push into primary care. Zeneca's cancer franchise is thought to have the potential to grow at around 16% a year. The GS analysts are more conservative, with a growth estimate of 12%. Zeneca's franchise ranks behind that of US firm Bristol-Myers Squibb.
The firm is developing its managed care franchise with products such as the antiasthma agent Accolate (zafirlukast), which has made a good start in the US market, but is facing competition from products such as Merck & Co's Singulair (montelukast sodium) and Glaxo Wellcome's respiratory portfolio, note the GS analysts.
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