GSK reports Q3 core EPS 49.7p, up 5% at CER

Total Q3 2024 sales GBP 8B -2% AER; +2% CE. Vaccines sales -15%. Shingrix -7% and Arexvy -72% reflecting ACIP guideline changes, prioritisation of COVID vaccinations in the US and annualisation of Arexvy launch in Q3 2023. Specialty Medicines sales +19%. HIV sales +12%. Oncology +94%. Respiratory/Immunology and other +14%. General Medicines sales +7%. Trelegy +16%. Emma Walmsley, CEO, said, “We have delivered another quarter of sales and core operating profit growth, and further good progress in R&D. Strong growth in specialty medicines helped to offset lower vaccine sales and reflected successful new product launches in oncology and HIV, as well as the resilience we have now built into GSK‘s (GSK) portfolio and performance. Our pipeline continues to strengthen with 11 positive phase III trials reported so far this year and we are currently planning launches for 5 major new product approval opportunities next year: Blenrep, Depemokimab, Nucala for COPD, Gepotidacin, and our new vaccine to prevent meningitis. We also resolved the vast majority of Zantac litigation in the quarter, to remove uncertainty and so we can focus forward. All this means we are on track to deliver our 2024 guidance, and we are even more confident in our 2026 and 2031 outlooks.”