Global biopharmaceutical company GSK (LSE:GSK) beat expectations for first-quarter revenue and profit on Wednesday, buoyed by sales of its blockbuster shingles vaccine Shingrix.
The London-listed pharmaceutical company reported adjusted earnings of 37 pence per share on sales of around £7 billion ($8.7 billion). The consensus of analysts compiled by the company was expecting 33.2 pence per share on sales of around £6.5 billion.
GSK’s blockbuster shingles vaccine, Shingrix, earned £833m, ahead of the £829m consensus compiled by the company.
GSK reaffirmed its 2023 outlook.
In February, GSK (NYSE:GSK) forecast sales growth of 6% to 8% at constant exchange rates and adjusted operating profit of 10% to 12% in 2023 compared to 2022.
On Wednesday, the company said it expected lower adjusted operating profit growth in the first half of the year and higher in the second half as costs increased to spur expected drug launches, including a high-profile RSV vaccine.