GSK Share Price Fell 1.29% After Its Final Results for Fiscal 2023

The GSK plc (LON: GSK) share price fell 1.29% after releasing the final results of its 2023 fiscal year. The company achieved significant growth, leading to an enhanced forecast for future growth. The company's sales, profits, and earnings all saw an uptick due to a widespread improvement across different sectors.

The healthcare company reported an overall sales increase to £30.3 billion, marking a 5% growth and a notable 14% rise when excluding COVID-related products and a remarkable surge in vaccine sales by 25%, or 24%, excluding COVID-19 influences. Shingrix generated £3.4 billion, up 17%, and Arexvy yielded £1.2 billion.

There was an 8% decline in speciality medicines, but a 15% increase was observed excluding COVID-19 impacts, with HIV treatments showing a 13% growth. General medicines also saw a 5% rise in sales.

The company's total operating profit and continuing EPS (Earnings Per Share) for 2023 indicated robust growth, aided by reduced charges related to the remeasurement of contingent consideration liabilities.

Adjusted operating profit grew by 12%, with an additional 4% boost excluding COVID factors. Similarly, adjusted EPS increased by 16%, with an extra 6% improvement excluding COVID-19. 

These results were primarily driven by vigorous non-COVID sales and higher royalty income, although partly balanced by augmented investments in research and development and new product introductions.

GSK is poised for future expansion, supported by organic research and development efforts and strategic business initiatives. The company has a robust clinical development pipeline with 71 vaccines and speciality medicines, including 18 in the advanced phase III/registration stage.

Significant advancements in the pipeline were marked by four major product approvals: the Arexvy RSV vaccine, Apretude for HIV prevention, Ojjaara for myelofibrosis, and Jemperli for first-line treatment of endometrial cancer.

GSK's pipeline has been further bolstered through targeted business strategies, including the acquisition of Bellus Health and the proposed acquisition of Aiolos Bio in the respiratory sector, along with licensing agreements with Janssen in infectious diseases and Hansoh Pharma in oncology.

Notable late-stage R&D milestones anticipated in 2024 include the approval of Arexvy for use in 50-59 year-olds, regulatory submission for meningitis (ABCWY) vaccine, and phase III results for several treatments. 

GSK share price. 

The GSK share price fell 1.29% to trade at 1519.60p from Tuesday's closing price of 1539.50p.