01 May 2024
If you are covering GSK’s Q1 2024 results please find a comment below from Sheena Berry, healthcare analyst at Quilter Cheviot:
“GSK has once again demonstrated robust financial health in Q1 2024, surpassing expectations with its sales and earnings per share (EPS).
“Shingrix, the company’s shingles vaccine, has had a strong quarter, particularly in markets outside the US, which have shown significant growth. However, it’s worth noting that US sales have been somewhat tepid in comparison.
“The launch of Arexvy, GSK’s vaccine for respiratory syncytial virus (RSV), has seen a positive consumer response, although demand moderated in the first quarter due to seasonal trends. Despite not meeting expectations, Arexvy has maintained a commendable two-thirds share of the RSV vaccination market.
“In light of these results, GSK has revised its full-year guidance upwards, reflecting not only the improved top-line performance but also the favourable outcome of a royalty dispute. Consequently, the company now anticipates higher royalty revenues for the full year than previously projected. It is expected that the growth in the first half of 2024 will outpace that of the second half.
“While Zantac remains a minor concern, there have been no significant updates in this quarter’s results that would alter the current outlook.
“Looking ahead, GSK is mindful of the challenges posed by the impending expiration of a key HIV patent. This anticipated headwind underscores the importance of the company’s ongoing efforts in business development to bolster its pipeline and enhance its product offerings.
“Overall, GSK’s Q1 2024 results highlight a decent start to the year.”
