From Investing.com: 2024-05-01 03:55:52

GSK raised its full-year profit forecast due to strong demand for vaccines and specialty medicines, projecting an 8% to 10% rise in annual adjusted earnings per share. Sales growth is expected to slow in the second half, with successful launches and royalty dispute appeal contributing to increased earnings.

The company reported a first-quarter profit of 43.1 pence per share on sales of 7.36 billion pounds, beating analysts’ forecasts. In the midst of lawsuit settlements related to discontinued heartburn drug Zantac, GSK took a legal provision of 312 million pounds in the first quarter, with total estimated costs around $5 billion for pending Zantac cases.

GSK’s CEO Emma Walmsley’s strategic focus on vaccines and infectious diseases has paid off, with strong sales of new products like Arexvy and Ojjaara. Despite legal liabilities related to Zantac, the company is optimistic about its financial and clinical progress, with shares up nearly 1% in early trade.



Read more at Investing.com: GSK raises 2024 profit forecast but says sales growth to slow in 2nd half By Reuters