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Landmark year: GSK beats quarterly expectations as it plans consumer healthcare spin off

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Pharmaceutical giant GSK has received a special recognition from the US Food and Drug Administration (FDA) for its bepirovirsen drug.
Pharmaceutical giant GSK has received a special recognition from the US Food and Drug Administration (FDA) for its bepirovirsen drug.

Healthcare giant GlaxoSmithKline has reiterated its growth outlook after posting first quarter sales of £9.8bn, surpassing analysts’ expectations.

The pharmaceutical firm said it anticipated it would deliver sales growth in 2022 of between five to seven per cent at CER and growth of adjusted operating profit of between 12 to 14 per cent at CER. Its guidance was excluding any contribution from Covid 19 solutions.

Sales growth was driven by strong sales in its biopharma arm (£7.1bn) and consumer healthcare (£2.6bn).

Emma Walmsley, GSK chief executive officer, said the firm was setting out on a “landmark year” as it set out to spin out its consumer healthcare division into a firm called Haleon

She said: “Our results reflect further good momentum across specialty medicines and vaccines, including the return to strong sales growth for Shingrix and continuing pipeline progress. We also continue to see very good momentum in consumer healthcare, demonstrating strong potential of this business ahead of its proposed demerger in July, to become Haleon.”