GSK 4Q Sales and Earnings Rose, Driven by Specialty Medicines, Vaccines -- Update
01 Février 2023 - 09:42AM
Dow Jones News
By Cecilia Butini
GSK PLC on Wednesday posted rising earnings and sales for the
fourth quarter, which the company said were boosted by its
specialty medicines and vaccines businesses.
The British pharma major reported net profit of 1.50 billion
pounds ($1.85 billion) in the fourth quarter, up from GBP749
million for the same quarter of 2021, on sales that grew to GBP7.33
billion from GBP7.08 billion.
Operating profit increased to GBP1.87 billion from GBP492
million in the fourth quarter of 2021, reflecting fair-value gains
on investments, milestone income from disposals and lower
remeasurement charges for contingent consideration liabilities, GSK
said.
After-tax profit also increased, rising to GBP1.62 billion from
GBP930 million the previous year.
Total earnings per share rose to 36.5 pence from 18.5 pence in
2021, and adjusted earnings per share increased to 25.8 pence from
23.6 pence, GSK said.
The company reported a gain from the demerger of its consumer
healthcare business--now named Haleon PLC--of GBP10.1 billion for
the full year.
GSK's vaccines business was driven both in 2022 and in the
fourth quarter by sales of its shingles shot Shingrix, which
generated GBP3 billion in the full year and GBP769 million in the
final quarter. GSK's specialty medicines division was driven by
growth in all therapeutic areas and totaled sales of GBP2.68
billion in the fourth quarter, the company said.
For 2023, the company said it expects turnover to increase
between 6% and 8%, while adjusted operating profit is seen
increasing between 10% and 12%. Earnings per share are expected to
rise between 12% and 15%, GSK said. The guidance excludes any
contribution from Covid-19 solutions, which aren't expected to
generate any significant sales or operating profit in the current
year, GSK said. Sales of Covid-19 solutions were GBP2.4 billion in
2022. For 2023, the company expects a reduction in turnover growth
by about 9% and a reduction in adjusted operating profit growth by
6% to 7%, it said.
"Despite the recovery of healthcare systems, uncertain economic
conditions prevail across many markets in which GSK operates and we
continue to expect to see variability in performance between
quarters," the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
February 01, 2023 03:27 ET (08:27 GMT)
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