- GSK press release (NYSE:GSK): Q1 Non-GAAP EPS of 43.10p.
- Revenue of £7.4B (+6.5% Y/Y), +10% CER and +13% ex COVID.
- Vaccines sales +16%, +22% ex COVID.
- Shingrix £0.9 billion +18%, Arexvy £0.2 billion.
- Specialty Medicines sales +17%, +19% ex COVID with HIV +14%.
- General Medicines sales +1%. Trelegy £0.6 billion +33%.
- 2024 guidance updated and dividends: GSK has upgraded its full-year 2024 guidance. The company now expects 2024 turnover growth towards the upper part of 5% to 7% range; Core operating profit growth of 9% to 11% (previously 7% to 10%); Core EPS growth of 8% to 10% (previously 6% to 9%).
- Dividend declared of 15p for Q1 2024; 60p expected for Full Year 2024.
- GSK expects first half 2024 sales growth to be higher than second half 2024 due to the comparator to H2 2023, which benefitted from newly launched vaccines and medicines. In particular, second half 2024, compared to the same period in the prior year, is expected to be influenced by the 2023 launch dynamics and initial channel inventory build attributable to Arexvy. In addition, we expect the majority of Shingrix sales in China in to be in the first half 2024.