On July 31, 2024, GSK announced its financial report for Q2 2024.The company's revenue in the first half of this year was £15.247 billion.(approximately 19.557 billion USD),An increase of 12% year-on-year; Q2 revenue reached 7.884 billion pounds (approximately 10.114 billion US dollars), a year-on-year increase of 13%.From the perspective of business segments, in the second quarter, the company'sSpecialty drug business, general drug business, and vaccine business increased by 22%, 12%, and 3% respectively.。Among them,Q2 Vaccine Business Revenue Reached £1.999 Billion, Up 3% Year-on-Year(Excluding the impact of the COVID-19 vaccine, CER, the same below). AndIn the first half of this year, the vaccine business revenue was 4.276 billion pounds, a year-on-year increase of 12%.. It can be seen that the growth rate of the company's vaccine business in Q2 has slowed down.Vaccine sales growth was mainly driven by increased demand for meningitis vaccines and consistent with the anticipated seasonal demand weakening and the acceptance of Arexvy in the United States.It is worth noting that,GSK Lowers Its 2024 Vaccine Sales Forecast by One Level. The company now expects, on a constant currency basis,Vaccine Sales to Grow at Low- to Mid-Single Digit Percentages This Year, Instead of High Single to Low Double Digits。The following mainly looks at the specific product situation of the vaccine sector.1、Shingrix（Recombinant Zoster Vaccine）In the first half of 2024, the revenue of Shingrix was £1.777 billion, a year-on-year increase of 7%. In Q2 of 2024, the revenue of Shingrix was £832 million.billion pounds, a year-on-year decline of 4%.It can be said that Shingrix's market performance in the second quarter was disappointing,Its sales of 832 million pounds ($1.07 billion) were 17.9% lower than analysts' expectations.The US market was the main drag, with sales plunging 36%. GSK attributed the weak performance to reduced channel inventory, changes in retail vaccine prioritization due to new methods pharmacies use to process payer reimbursements, and challenges in reaching more consumers given that Shingrix's penetration rate among the recommended population in the US has already reached as high as 37%.Based on the decline in the second quarter,GSKShingrix is not expected to grow in 2024. ButCompanyChief Business Officer Luke Miels told investors on the company's second-quarter earnings call,GSKShingrix is not the force driving the adjustment of vaccine guidance.——“Pharmacy Structural Elements” is a one-time transformation, and the enthusiasm of doctors remains strong.In the first half of 2024, the revenue from meningitis vaccine products was £622 million, a year-on-year increase of 17%. In Q2 of 2024, the revenue from meningitis vaccine products was £323 million, a year-on-year increase of 24%.Q2 2024 and Year-to-DateGSK's two major meningitis vaccines both achieved double-digit growth.Bexsero, a vaccine targeting meningitis B, has seen growth primarily reflecting favorable pricing dynamics in the U.S., recommendations in Germany, increased demand from regional immunization programs in Australia, and its launch in Vietnam, partially offsetting the impact of the tender phase in Europe. Menveo, a vaccine for ACWY meningitis, has benefited from favorable delivery timing internationally and procurement patterns by the U.S. CDC.In addition, in mid-April this year,The company's MenABCWY vaccine BLA application has been accepted by the FDA, with a PDUFA date of February 14, 2025.According to GSK, if the vaccine is approved, the company'sMeningitis VaccineThe combination is expected to deliver peak sales of around 2 billion pounds.In the first half of 2024, the revenue of Arexvy was 244 million pounds.（Approximately USD 314 million).In Q2 of 2024, Arexvy's revenue was £62 million., including revenue of 56 million pounds from the U.S. market.The vaccineIt was first approved by the FDA in May 2023, and subsequently received approval for marketing in the EU and Japan.According to Pfizer's disclosure, the revenue of Abrysvo in the first half of 2024 and in Q2 2024 were respectivelyAmounting to $201 millionAnd 0.56 billion US dollars. Although Arexvy's market performance is better than Abrysvo’s, Arexvy's performance in this quarter is still disappointing.According to Reuters, in terms of retail, "The total sales of the vaccine were $80 million, below the approximately $90 million expected by analysts."Arexvy Faces Potential Obstacles.In June this year, the United StatesThe CDC's Advisory Committee on Immunization Practices (ACIP) unanimously voted to recommend that adults aged 75 and older, and adults aged 60 to 74 at high risk of severe illness due to underlying medical conditions, receive a single lifetime dose of the vaccine. Additionally, ACIP voted on recommendations for the use of RSV vaccines and target populations, suggesting deferring vaccination for adults under 60. Due to safety concerns, although the FDA earlier...GSK's Arexvy has been approved for use in people aged 50 to 59, but the committee recommended delaying the decision to collect and analyze more data before making a final choice.Based on this,London-based health analytics company AirfinityThe RSV market value for elderly Americans by 2030 has been reduced from $4.7 billionReached $1.7 billion。However, GSK CEO Emma Walmsley was in ChinaShe said at a news conference on Wednesday that she was confident "2025 will be a year of growth and sales in the peak year are guaranteed."GSKSet the peak annual sales of Arexvy at 3 billion pounds.Walmsley pointed out that Arexvy's effectiveness in high-risk populations exceeds 90%, the highest among existing vaccines, and the latest ACIP recommendations put GSK in a favorable position.Miels said that, according to the existing contract, GSKArexvy is expected to maintain its market leadership position during the 2024-2025 sales season. However, he declined to disclose the exact market share of Arexvy. In the previous sales season,GSK Captures Two-Thirds of the Market Share, Outperforming Pfizer.In Pfizer's second-quarter earnings reportOn the teleconference, U.S. Commerce Director Aamir Malik stated,Pfizer"In the upcoming season, the contract position with Abrysvo has been 'significantly strengthened.' He also pointed out that the vaccine currently has a needle-free reconstitution kit, which does not require freezing and thawing. Malik said, 'Let me remind everyone that many healthcare providers and pharmacies want to simplify their vaccination management by using one vaccine to serve both the elderly and pregnant women at the same time, and only Abrysvo can achieve this.'"。”As far as GSK is concerned, MielsIt was pointed out that vaccine contracts are usually signed separately for children and adult groups. What is truly important is that "the system is willing to focus on a single vaccine and separate it more actively, rather than mixing them together."Although GSK maintains its long-term forecast,However, Miels said that assuming a booster shot is needed, andPredicting Arexvy's performance in the third quarter may be challenging, as the CDC has not yet clarified the situation for those aged 60 and above."The 'high-risk' criteria for the 74-year-old age group. I believe that before fully clarifying the risk-benefit, ACIP will be very cautious about broader coverage."ACIP Requests More Data, Including Real-World Evidence from Surveillance Databases, to Support the Risk-Benefit Profile of RSV Vaccines. Dr. Tony Wood, GSK's R&D Chief, stated on an investor call that the company has two studies evaluating Arexvy.Effectiveness, Immunogenicity, and Safety Over Three RSV Seasons."We want to see how this product performs three years from now, as it will have a significant impact on pricing, durability, and other factors that are key concerns for payers (especially in European contracts)," Miels said.Apart from the European and American markets,GSKAlso with its newly signed Shingrix partner, Zhifei Biological,Arexvy in the Chinese Market"Some preliminary discussions" were held.，Miels said that the company "really wants to expand the scope of cooperation to include RSV."In the first half of 2024, the revenue from flu vaccines and established vaccines was £0.2 billion (-40%) and £16.13 billion (-2%), respectively.Q2 2024Revenue from flu vaccines and established vaccines was £0.07 billion (-65%) and £7.75 billion (-2%), respectively.Despite the weak performance of the vaccine business,GSK still raised the full-year guidance for the entire group., driven by continued outperformance from its long-acting HIV products, new oncology offerings and the Trelegy COPD inhaler. The company now expects, at constant exchange rates,Sales growth excluding COVID products will be 7% to 9%, compared to the previous forecast of 5% to 7%.。Attachment: GSK Latest R&D PipelineReferences:
[1]GSK 2024Q2 Earnings Report Materials
[2]GSK Lowers Full-Year Vaccine Guidance After Disappointing Q2 Sales, CDC RSV Guidelines.Biospace.July 31, 2024.
[3]GSK cuts vaccine sales outlook after RSV surprise, but CEO puts on bold front on peak potential.Fierce pharma.Jul 31, 2024 10:13am.
To promote the exchange of information in the human and veterinary vaccine industries, and to jointly explore the latest R&D progress, industrialization status, and future development trends in this field,Bio-products Circle collaborates with Clover Conference and ExhibitionWill beAugust 16-17, 2024InSuzhouCo-host "The 3rd New Vaccine Development Summit”。We sincerely invite experts, scholars, and entrepreneurs in related fields across China to share in this academic盛会.The relevant matters are hereby notified as follows.Name:2024 3rd New Vaccine Development SummitTime:2024August 16-17 (Friday-Saturday)Location:Suzhou(Hotel Directional Notice)Hosted by:Clover Exhibition, Biopharmaceutical CircleMedia Support:Medicine Space-Time, Antibody Circle, Cell Gene Research CircleConference Fees:Scan the QR code to inquire.Registration Method:ScanQR code below→ Fill in the form → Registration successful (Volunteer registration,No registration fee required, with a certain amount of work tasks to be undertaken.）！
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