GSK CEO Luke Miels delivered strong first-quarter results with core earnings per share of 46.5 pence, beating analyst forecasts of 43.3 pence, though investors remained skeptical about sustainability2
Shingrix vaccine sales reached 1.03 billion pounds for the quarter, significantly exceeding expectations of 851 million pounds, driven by higher European demand and the launch of a new prefilled syringe format in the U.S.2
Overall vaccine sales totaled 2.15 billion pounds, surpassing expectations of 2.03 billion pounds2
Exdensur (depemokimab) received European Commission approval as an ultra-long-acting biologic for severe asthma and chronic rhinosinusitis with nasal polyps, but the drug showed performance challenges in trials5
GSK shares fell more than 8% following the earnings announcement as investors questioned whether the results were driven by one-off factors rather than sustainable business fundamentals2
Miels is under pressure to achieve GSK's 2031 revenue target of over 40 billion pounds, with current analyst expectations at 35 billion pounds2
GSK disclosed pipeline changes including discontinuation of the Mersana STING ADC program after $100 million investment and pausing the bird flu mRNA vaccine to prioritize seasonal flu vaccine development3
GSK maintained full-year forecasts of 3-5% sales growth and 7-9% core operating profit growth2
Sources:
2. https://www.marketscreener.com/news/gsk-posts-quarterly-profit-beat-in-boost-for-new-ceo-miels-ce7f59d3dc88fe26
3. https://www.fiercebiotech.com/biotech/gsk-walks-away-100m-bet-mersana-sting-adc-pauses-mrna-bird-flu-shot
5. https://www.gsk.com/en-gb/media/press-releases/exdensur-depemokimab-approved-by-the-european-commission/