GSK (LON: GSK) announced a robust second-quarter performance, marked by double-digit sales growth and an uplift in full-year guidance.
The pharmaceutical giant's shares have dipped around 0.55% in response to the results.
Total sales for the quarter reached £7.9 billion, representing a 13% increase year-on-year. This growth was driven by strong performances across all business segments, with particular highlights in Specialty Medicines, which saw a remarkable 22% surge.
GSK revealed the division benefited from the successful launch of new oncology and HIV treatments.
Encouraged by the strong first-half performance, GSK has raised its full-year outlook. The company now anticipates sales growth of between 7% and 9%, an increase from the previous forecast of 5% to 7%.
Similarly, core operating profit is expected to climb by 11% to 13%, surpassing the earlier projection of 9% to 11%.
GSK's CEO, Emma Walmsley, expressed satisfaction with the company's progress, emphasising the role of strong operational execution and a diversified product portfolio in driving growth. The company's R&D pipeline continues to show promise, with several key projects advancing through clinical trials.
“GSK's momentum this year continues with excellent second quarter performance, reflecting strong operational execution and the strengthening breadth of our portfolio to both prevent and treat disease,” said Walmsley.
“We have also strengthened capabilities in key technology platforms and completed investments to develop new mRNA vaccines, ultra-long-acting HIV medicines and a promising new medicine for severe asthma. All this supports our future growth and confidence to bring meaningful innovation to patients.”
Despite the positives, investors' reaction to the report was subdued. Nevertheless, while the company faces challenges such as increased competition and regulatory hurdles, the strong second-quarter results and upgraded guidance suggest that GSK is well-equipped to navigate these obstacles and achieve its long-term objectives.
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