GSK reported a 13% rise in Q2 sales to £7.88 billion with an 18% increase in core operating profit, while Shingrix performance and Zantac litigation costs weighed on sentiment, and the company raised full-year guidance.
GSK (LSE:GSK) shares closed 2% lower on Wednesday, with its performance held back by lower than expected vaccine sales – with the firm’s shingles and chickenpox vaccine Shingrix notably impacted.
Nevertheless, GSK overall showed a strong set of second-quarter results, with sales up 13% to £7.88 billion, beating analyst forecasts of £7.51 billion.
GSK highlighted a robust performances in its oncology and HIV treatments which contributed to an 18% rise in core operating profit.
And, the drug maker revised up full-year guidance, to see sales growth of 7-9% and core earnings per share (EPS) growth of 10-12%.
On other hand, meanwhile, GSK bears also worry over ongoing legal issues related to the Zantac and its associated rise in legal costs.
In London, GSK shares were down 32p or 2% closing Wednesday’s session at 1,510p.
