GSK PLC (LSE:GSK, NYSE:GSK) has upgraded its 2023 guidance following a strong second-quarter performance, led by key growth drivers including its Shingrix vaccine for shingles.
The pharmaceutical giant now expects turnover to increase by 8-10%, up from the previous estimate of 6-8%, and adjusted operating profit growth of 11-13%, up from 10-12%. Adjusted EPS growth is also expected to rise by 14-17%, up from 12-15%.
Sales for the three months ended 30 June 2023 grew by 4% or 11% excluding COVID-19 solutions to just under £7.2bn.
Vaccine sales saw an 18% increase, with Shingrix sales up by 20%.
Specialty medicines sales were down by 7%, but up by 12% excluding COVID-19 solutions, with HIV sales also up by 12%. General Medicines sales saw an 8% increase, with Trelegy up by 30%.
The strong sales growth of products launched since 2017, including in vaccines and HIV, contributed to a step change in performance. The total operating profit and total continuing EPS rose by over 100%, driven by strong operating performance and favourable movements in contingent consideration liabilities.
"Our momentum supports the upgrade we have made to our financial guidance for 2023 and further increases our confidence in delivering longer-term profitable growth for shareholders," said chief executive, Dame Emma Walmsley.