GSK lifts sales forecasts following ‘record’ success from shingles vaccine
British pharmaceutical giant GlaxoSmithKline (GSK) has raised its sales forecast for the full year, on the back of the success of its shingles vaccine.
Bosses at the London-listed firm now expect to deliver sales growth of between eight and ten per cent in the full-year and an adjusted operating profit of around 15 to 17 per cent.
GSK’s sales have risen nine per cent in the last three months to £7.8bn. The company’s shingles vaccine, Shringrix, proved popular in the period with sales up more than a third to £760m.
CEO Emma Walmsley hailed the “record” performance from its shingles vaccine, adding that the company expects “good momentum in 2023” as it also makes moves on an RSV vaccine.
“We are also making good progress to strengthen our early-stage pipeline and will continue to invest in targeted business development to build optionality and support growth in the second half of the decade,” she said in a statement.
The Big Pharma firm also unlocked more operating earnings, having split from its consumer healthcare unit in July.
Operating margins swelled over 15 per cent in the third quarter, which the company put down to the demerger.