GSK Kept at Hold as Berenberg Notes Cost Savings Plan

02:33 AM EDT, 08/17/2026 (MT Newswires) -- Berenberg affirmed its investment opinion on GSK (GSK.L), noting the UK-headquartered pharmaceutical group's new three-year cost optimization plan launched alongside its second-quarter results. "GSK has an ambitious plan to accelerate growth in 2031 and beyond following dolutegravir patent expiry. The company plans 25 [phase 3] starts across 7 prioritised assets, fuelled by recent business development. We are increasingly confident in GSK's ability to close the gap between consensus estimates and its 2031 sales target. A GBP1.9bn cost savings [program] is designed to protect, and potentially improve, the operating margin over the dolutegravir erosion period (2028-2030). We reiterate our Hold rating and price target of GBP20.00," analysts said Monday. Under its "Accelerate Growth" program, GSK plans to save 1.9 billion pounds sterling annually, expected to be fully realized by 2029. Total costs are estimated at 2.4 billion pounds, including 2.1 billion in cash costs. The savings are intended to be used mainly for research and development. The research firm said upcoming pipeline catalysts for the company include anticipated year-end US approvals of bepirovirsen for hepatitis B and neladalkib for second-line lung cancer with an ALK inhibitor, alongside second-half readouts for Apretude in HIV prevention and ULA TSLP asthma data. GSK is also expected to launch 13 phase 3 trials in the second half across oncology, respiratory and cardiovascular fields.