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GSK:Profit surge ahead of consumer health spin-off in July - 0 views

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    British pharmaceutical giant GlaxoSmithKline beat first-quarter sales and earnings forecasts on Wednesday (April 27), helped by demand for its Covid-19 therapy and shingles vaccine, as the company moves towards the July separation of its consumer health business. Profit after tax jumped 68 percent to £1.8 billion ($2.3 billion, 2.1 billion euros) compared with the start of 2021. Sales climbed 32 percent to almost £9.8 billion. "We have delivered strong first-quarter results in this landmark year for GSK, as we separate consumer healthcare and start a new period of sustained growth," chief executive Emma Walmsley said in the earnings statement. "Our results reflect further good momentum across speciality medicines and vaccines, including the return to strong sales growth for Shingrix and continuing pipeline progress." The shingles vaccine generated £698 million in quarterly sales, beating analyst estimates of 528 million. Walmsley is seeking to reshape GSK after facing fierce investor criticism over the company's delay in producing Covid jabs and treatments.
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