Shares in GSK PLC (LSE:GSK, NYSE:GSK) opened higher after its first-quarter revenue and profits beat expectations with the outperformance driven by the success of its Shingrix shingles vaccine.
It also reaffirmed its 2023 guidance, which anticipates turnover will increase by 6-8% while operating profits will be up 10-12%.
For the three months ended 31 March 2023, the pharma giant posted adjusted earnings of 37p per share on sales of £6.95bn.
According to Reuters, analysts had anticipated 33.2p per share on revenue of around £6.5bn.
Looking ahead, chief executive Emma Walmsley said: “We are very focused on our upcoming launches, including our potential RSV older adult vaccine, and on continuing to strengthen our pipeline - both organically with several positive late-stage read-outs already this year and through targeted business development.
“This continued momentum is also supporting our confidence in delivering our medium and long-term growth ambitions."
In the first 10 minutes of trading the stock was up just under 1% at 1,509.6p.