The GSK share price is 14% off its 52-week high. Time to consider buying?

At £15.59, ’s ( ) share price is 14% lower than the 52-week high of £18.23 it hit back in May.

I reckon now could be a good time to take a closer look at the pharmaceutical giant. It has been a for the stock. But as a long-term investor, if I sense a strong buying opportunity, I’m content with riding out some short-term ups and downs.

With that, let’s dig a little deeper into GSK. There’s one main reason I see that explains why its share price has fallen. It’s linked to potential litigation surrounding , a heartburn drug that was taken off shelves in 2019 after being linked to causing cancer.

Earlier this year, a judge in Delaware ruled in favour of around 72,000 lawsuits related to and its link to cancer to go forward. This came as a shock decision. When it was revealed, it wiped almost £7bn off GSK’s value in just one day.

Its share price has failed to recover since. GSK now faces the potential of thousands of costly court cases. That clearly has investors worried.

Analysts at have said it could cost the firm up to £3bn in settlement fees. But looking past that, what could drive growth for the business? Well, I see plenty of encouraging factors. Its Q2 update highlighted its growing R&D pipeline.

The business has now secured approvals or filings for 10 “ ”. It also reported “ ” from seven phase III trials. In its results, the business upgraded its 2024 guidance.

Sales growth should now come in between 7-9%. Core operating profit growth should sit bet.