30 October 2024
If you are covering GSK’s Q3 2024 results please see commentary below from Sheena Berry, healthcare equity analyst at Quilter Cheviot:
“GSK’s third quarter results for 2024 reflect a mixed performance. While the company achieved a 2% increase in sales, meeting expectations, and an impressive 14% EPS beat, the performance of key vaccines was underwhelming. Shingrix and Arexvy saw declines of 7% and 72% respectively, largely due to changes in ACIP guidelines and the prioritisation of COVID vaccines in the US.
“Despite these challenges, GSK has confirmed its full-year guidance, aiming for the midpoints of 7%-9% sales growth and 10%-12% EPS growth. However, it’s important to note the downgrade in vaccines guidance.
“Looking ahead, GSK offers underlying double-digit EPS growth for 2024, but the impending expiration of a significant HIV patent presents a potential headwind. Therefore, business development to enhance the pipeline and product offering remains a clear focus for the company."
