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- GSK Plc's (NYSE:GSK) Q2 turnover reached £6.9 billion, up 19% Y/Y on the actual exchange rate (AER) and 13% on a constant exchange rate (CER) basis.
- Specialty Medicines turnover was £2.7 billion, up 44% AER, 35% CER, driven by consistent growth in all therapy areas, including sales of Xevudy.
- Sales of Xevudy (sotrovimab) for COVID-19 treatment stood at £466 billion.
- Related: GSK Completes Spin-Off Of Its Consumer Healthcare Business.
- Vaccines sales benefited from Shingrix's post-pandemic recovery and reached £1.72 billion, up 31% at AER, and 24% at CER, excluding unrepeated 2021 pandemic adjuvant sales. Shingrix generated £731 million in sales.
- General Medicines sales reached £2.5 billion, up 5% AER and 2% CER reflecting growth from Trelegy and recovery of the antibiotics market.
- The adjusted operating margin of 29% is 0.9 percentage points higher at AER and 1.5 percentage points lower on a CER basis than in Q1 2021. reflecting the impact of low margin COVID-19 solutions sales (Xevudy).
- Adjusted EPS was 34.7p compared to 28.2p a year ago.
- However, the company's pandemic solutions sales have taken a hit, and GSK said that expected 2022 sales had largely been achieved in the first half of this year.
- Outlook: GSK raised FY22 sales growth to 6% - 8%, compared to the previous guidance of 5% - 7%, and adjusted operating profit to increase by 13% - 15% (prior 12% - 14%).
- Price Action: GSK shares are up 0.66% at $42.80 during the premarket session on the last check Wednesday.
- Photo via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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