GSK raises guidance after strong Q2 earnings

Biopharma company GSK has lifted its full-year guidance after reporting sales and earnings above expectations in the second quarter.

Boosted by strong sales of its shingles vaccine Shingrix and HIV medicines, GSK’s total sales in April-June 2023 were up 4% year-on-year to £7.18bn.

Adjusted operating profit grew 8% to £2.17bn, with adjusted earnings per share of 38.8 pence compared with 34.7 pence in Q2 2022.

The company now expects adjusted earnings per share growth of 14-17% for the full year, up from its earlier guidance of 12-15%.

Adjusted operating profit is expected to increase by 11-13%, up from 10-12%.

Sales are anticipated to increase by 8-10%, compared with 6-8% previously forecast.

“We have delivered another excellent quarter of performance, with strong sales and earnings growth, notably in HIV and Vaccines, and continued strengthening of the R&D pipeline and product portfolio,” said CEO Emma Walmsley.