GSK (GSK.L) surpassed first-quarter revenue and profit projections on Wednesday thanks to sales of its blockbuster shingles vaccination Shingrix.
On revenue of nearly 7 billion pounds ($8.70 billion), the London-listed pharmaceutical posted an adjusted profit of 37 cents per share.
According to company-compiled average forecasts, analysts expected 33.2 pence per share on 6.5 billion pounds in sales.
Shingrix, the company’s blockbuster shingles vaccine, produced 833 million pounds, surpassing GSK’s 829 million-pound estimate.
GSK confirmed the 2023 forecast.
GSK forecast 6% to 8% sales growth and 10% to 12% adjusted operating profit growth at constant currency rates in 2023 compared to 2022 in February.
On Wednesday, the business said it projected adjusted operating profit growth to be lower in the year’s first half as expenditures rise to fuel medicine releases, including its highly anticipated RSV vaccine, and higher in the second half.
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