GSK Reports Strong Q4 Driven by Shingrix, Forecasts Up to 8% Sales Growth in 2023

Intelligent Finance APP learned that, thanks to the strong performance of the shingles vaccine Shingrix, GlaxoSmithKline (GSK.US) announced better-than-expected Q4 results on Wednesday. Data showed that the company's Q4 sales were approximately £7.4 billion (equivalent to $9.11 billion), a year-on-year increase of 4%, surpassing market expectations of £7.1 billion; adjusted operating profit was £1.595 billion, a year-on-year increase of 21%; adjusted earnings per share were 25.8 pence, a year-on-year increase of 10%, higher than market expectations of 21.2 pence.

In the fourth quarter, sales of Shingrix reached £769 million, a year-on-year increase of 29%, surpassing market expectations of £748 million.

GSK spun off its consumer health division in July last year and currently focuses on vaccines and pharmaceuticals.

Excluding the contribution of the COVID-19 resolution business, GSK expects sales to grow 6% to 8% at constant exchange rates and adjusted operating profit to increase 10% to 12% in 2023.