GSK reported third-quarter sales of 8.89 billion pounds, up 4% and ahead of consensus, as specialty medicines grew 15% at constant currency, offsetting a 2% decline in vaccines, while core operating profit rose 5%.
GSK reported third-quarter sales of 8.89 billion pounds, up 4% at actual exchange rates and 5% at constant currency, against a company-compiled consensus of 8.84 billion pounds. Specialty Medicines sales reached 3.9 billion pounds, up 15% at constant currency, with HIV sales of 2.1 billion pounds up 10%, Respiratory, Immunology and Inflammation sales of 1.1 billion pounds up 21% and Oncology sales of 0.6 billion pounds up 23%.
Vaccines sales fell 2% to 2.6 billion pounds, with Shingrix at 0.8 billion pounds down 5% and Arexvy at 0.2 billion pounds down 24%, while General Medicines sales were stable at 2.4 billion pounds.
Core operating profit rose 5% at constant currency to 3.08 billion pounds, against a 2.93 billion pound consensus, and core earnings per share rose 1% to 54.6 pence, against about 50 pence expected. Total operating profit fell 16% and total earnings per share fell 21%, driven by 328 million pounds of restructuring charges under the Accelerate Growth programme and lower other net operating income.
The figures come from GSK's regulatory results announcement and were reported consistently by Dow Jones and Reuters, including the consensus comparisons and the divisional breakdown. Chief executive Luke Miels said the company had delivered another strong quarter, with key growth drivers and new launches performing well.
GSK reaffirmed its full-year outlook, expecting turnover growth in the upper half of its 3 to 5% range and core earnings-per-share growth in the lower half of its 7 to 9% range, while noting research and development spending is expected to grow faster than sales, with full-year results due early next year.