(Reuters) -GSK raised its full-year profit forecast on Wednesday and said its sales would be higher in the first six months of the year than the second half on the back of strong demand for its common respiratory virus and shingles vaccines.
The London-listed drugmaker said it now expects a rise of 8% to 10% in annual adjusted earnings per share, up from the 6%-9% growth previously forecast. It also expects its 2024 sales to rise in the upper end of its 5% to 7% forecast range.
CEO Emma Walmsley’s strategy has been centred around sharpening GSK’s focus on vaccines and infectious diseases, and shifting its HIV focus to long-acting treatment and prevention therapies. The strategy has paid off as the company gears up for 12 new launches from 2025.
The British drugmaker reported a profit of 43.1 pence per share on sales of 7.36 billion pounds ($9.18 billion) for the first quarter, above analysts’ average expectations of a 37.3 pence profit on sales of 7.07 billion pounds, according to a company-compiled consensus.
($1 = 0.8020 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)
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