UK pharma giant GSK lifted full-year guidance after beating third-quarter expectations with an 18% rise in revenues driven by its Shingrix shingles treatment.
The company, which this year spun off its consumer unit to focus on medicines, said sales came in at £7.83bn compared with forecasts of £7.32bn. Adjusted operating profit rose 18% to £2.6bn.
GSK said it now expected to deliver sales growth of 8-10% for the full-year and adjusted operating profit growth of 15-17%.
Sales of Shringrix rose more than a third to £760m. Vaccines sales, excluding Covid-19 solutions, are expected to grow mid to high-teens percentage at constant exchange rates for the full year.
“The majority of expected Covid-19 solutions sales for 2022 have been achieved in the year to date. Based on known binding agreements with governments, we anticipate that sales of Covid-19 solutions will be substantially lower going forward,” the company said.
Reporting by Frank Prenesti for Sharecast.com
