GSK on Wednesday lifted its full-year forecast, boosted by reinvigorated demand for its blockbuster Shingrix vaccine, days after overhauling the business with the spin-off of its consumer health unit.
GSK now expects 2022 sales to rise 6% to 8% and adjusted operating profit to increase by 13% to 15%, excluding any contributions from the company’s COVID-19 solutions business.
Previously, the company had forecast full-year sales to grow 5% to 7% and adjusted operating profit to rise 12% to 14%. GSK has been expecting demand for its shingles vaccine to pick up again, with healthcare systems gradually rebounding following disruption from governments’ prioritisation of COVID-19 vaccination programmes.
This quarter, Shingrix generated 731 million pounds, well ahead of the GSK-compiled consensus estimate of 610 million pounds.
GSK generated a turnover of around 6.9 billion pounds ($8.32 billion), including pandemic solutions sales from the preceding quarter, eclipsing estimated revenues of about 6.3 billion pounds, a company-compiled consensus.
However, the company’s pandemic solutions sales have taken a hit.
GSK spin-off to create consumer healthcare giant
As COVID headwinds abate, alongside the US health regulator’s rescinding the emergency use authorisation for GSK’s therapy, Xevudy, due to concerns around the magnitude of benefit it provides against Omicron offshoot variants - second-quarter Xevudy sales fell to 466 million pounds, after generating about 1.3 billion pounds in the first quarter.
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