5 February 2025
If you are covering the latest results from Novo Nordisk and GSK, please find comments below from Sheena Berry, healthcare analyst at Quilter Cheviot.
GSK:
"GSK has delivered a robust quarter, with sales increasing by 4%, surpassing expectations.
“While Arxvy (RSV) had a softer performance, Shingrix (shingles vaccine) exceeded forecasts, showcasing the strength of GSK's vaccine portfolio.
“Looking ahead, the 2025 guidance is promising, with anticipated sales growth of 3%-5% and core operating profit growth of 6%-8%. This growth is expected to be driven primarily by the specialty medicines business, with the vaccines division expected to decline. Notably, GSK has raised its 2031 sales guidance to over £40 billion, up from £38 billion, and announced a £2 billion share buyback over the next 18 months.
“A key clinical trial readout in 2025 for the chronic cough asset and regulatory decisions on Blrenrep in second-line multiple myeloma will be pivotal for the group's future trajectory."
Novo Nordisk:
"Novo Nordisk has reported an impressive 30% increase in Q4 sales, outpacing expectations, although this was partly driven by insulin rebate adjustments.
“The performance of key growth drivers, Ozempic and Wegovy, remains strong, with Ozempic meeting expectations and Wegovy slightly underperforming.
“The 2025 outlook is reassuring, with the company guiding to a robust 16%-24% sales growth. Following the positive CargiSema readout in December, Novo Nordisk is set to initiate a new Phase III trial in 2025 and plans to file with regulators in Q1 2026, a slight delay to ensure a secure supply chain.”
