GlaxoSmithKline PLC (GSK) yesterday beat expectations for its first-quarter revenue and profit, helped by sales of its blockbuster shingles vaccine Shingrix.
The London-listed drugmaker reported adjusted earnings per share of ￡0.37 on revenue of about ￡7 billion (US$8.74 billion).
Analysts were expecting earnings per share of ￡0.37 on revenue of about ￡6.5 billion, company-compiled consensus estimates showed.
Photo: EPA-EFE
The company’s blockbuster shingles vaccine generated ￡833 million, ahead of a GSK-compiled consensus of ￡829 million.
GSK reaffirmed its guidance for this year.
In February, the company predicted sales growth would this year increase 6 to 8 percent and adjusted operating profit would increase 10 to 12 percent at constant exchange rates.
On Wednesday, the company said it expected adjusted operating profit growth to be lower in the first half of the year, as cost increases are expected to affect drug launches, including its keenly watched respiratory syncytial virus (RSV) vaccine.
The company is a key player in the race that also includes Moderna Inc and Pfizer Inc to develop a safe and effective RSV vaccine, which, if approved, is expected to generate billions in sales.
Pfizer and GSK filed applications for US regulatory approval late last year. An decision on GSK’s application is expected by early next month.
Separately, Roche Holding AG’s first-quarter sales exceeded expectations, as revenue from new drugs helped offset a drop in the market for COVID-19 tests.
Sales fell 6.8 percent to 15.3 billion Swiss francs (US$17.2 billion), the Basel, Switzerland-based company said yesterday, beating analyst estimates.
Sales of eye drug Vabysmo and prescription flu treatment Xofluza exceeded expectations, as did revenue in Japan, thanks to orders of COVID-19 medicine Ronapreve. Cancer drug Tecentriq fell slightly short of expectations.
“In the last year we did have some setbacks,” Roche chief executive officer Thomas Schinecker said on a call with reporters.
Still, the company has more than 14 late-stage trials due to deliver results this year and aims to introduce three new medicines, he said.
“We don’t have to hide. We really see that we have a strong, productive R&D [research and development] organization,” he said.
Vabysmo would help drive growth in the coming years, with “still a lot of runway ahead” for sales, he said.
Additional reporting by Bloomberg
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