GSK shares fall as narrow approval of blood cancer drug limits US relaunch

By Bhanvi Satija

LONDON (Reuters) -GSK’s London-listed shares fell nearly 2% on Friday after the U.S. Food and Drug Administration approved only one of two treatment combinations with the British firm’s blood cancer drug, limiting the scope of its return to the U.S. market.

The drug, Blenrep, which was pulled from the U.S. market in 2022, was approved in combination with cancer therapy bortezomib and dexamethasone steroid for patients who have been previously treated at least twice.

GSK’s U.S. listed shares were 5% lower at $43.51 in premarket trade.

“We think overall this is an initially bounded U.S. re-entry,” Barclays analyst Shirley Chen wrote in a note.

GSK had also sought approval to treat less sick patients, or those who had only been treated once before, and it did not receive