GSK PLC Faces FDA Delay on Blenrep Approval

GSK PLC, a pharmaceutical company, has announced that the FDA has delayed its decision on Blenrep, a treatment for multiple myeloma. The delay has put the company’s plans for the drug on hold.

Key Developments

• The FDA has extended its review period for Blenrep, a blood cancer treatment.
• The delay has impacted GSK PLC’s plans for the drug.
• The company has announced plans to lay off 150 employees as part of a manufacturing transfer.

Company Actions

• GSK PLC will transfer vaccine manufacturing from a Massachusetts site.
• The company will lay off 150 employees as a result of the transfer.

Market Impact

• The company’s stock price has been affected by broader market trends.
• The FTSE 100 reached a record high on hopes of a trade deal between the US and Japan.

Regulatory Update

• The FDA’s extended review period for Blenrep has been a major focus for the company.
• Several news outlets have reported on the development.