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GSK boosts financial outlook on strong Arexvy vaccine sales

Published Nov 01, 2023 04:54AM ET
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UK pharmaceutical giant GSK Plc has revised its financial guidance upwards for the second time this year, driven by the successful launch of Arexvy, a vaccine designed to prevent a common respiratory virus in older adults. The vaccine, which was launched in the US and other regions in August, has seen high demand, contributing to robust third-quarter sales of £700 million ($850 million).

Following the impressive performance of Arexvy, GSK now anticipates up to 13% sales growth and an adjusted earnings per share increase of 17%-20%. This positive forecast comes after a strategic decision by GSK to separate its pharmaceutical business from its consumer-products division, responsible for manufacturing Centrum vitamins.

The company's proactive approach is part of an effort to offset the loss of exclusivity on key drugs such as a crucial HIV treatment. GSK is actively pursuing various development trajectories as it continues to strengthen its position in the global pharmaceutical market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

GSK boosts financial outlook on strong Arexvy vaccine sales
 

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