Q2 2024 GSK plc Earnings Call Transcript
Key Points
- GSK PLC (GSK) reported a strong second quarter with sales growing 13% to GBP7.9 billion.
- Core operating profit increased by 21% to GBP2.5 billion, and core earnings per share rose 17% to 43.4p, excluding COVID solutions.
- The company upgraded its full-year guidance, expecting sales growth of 7-9% and core operating profit growth of 11-13%.
- GSK PLC (GSK) continues to invest in its pipeline, with 70 assets in clinical development and positive Phase 3 data for several key treatments.
- The company reported strong performance across all product areas, including vaccines, specialty medicines, and general medicines, with notable growth in the US market.
- The company faced short-term impacts on its vaccines portfolio, particularly in the US market for Shingrix, which saw a 36% decline in sales.
- The ACIP's postponement of recommendations for the 50-59 age group for the Arexvy vaccine could impact sales growth in the near term.
- GSK PLC (GSK) is dealing with ongoing litigation related to Zantac, which continues to be a concern for shareholders.
- The company expects lower positive mix benefits and increased costs to drive future supply chain efficiencies in the second half of the year.
- The impact of the loss of Gardasil royalties is expected to reduce profit growth by 6 percentage points this year.
Hello, everyone. Welcome to today's call and webcast. The presentation was sent to our distribution list by email today, and you can also find it on gsk.com. Please turn to Slide 2. This is the usual Safe Harbor statements will comment on our performance using constant exchange rates or CR, unless stated otherwise.
Please turn to slide 3. Today's call will last approximately one hour with the presentation taking around 35 minutes and the remaining time for your questions. Today, our speakers are all Emma Walmsley, Tony Woods, Luke Miels, Deborah Waterhouse, and Julie Brown with David Redfern joining for Q&A. Please ask one to two questions so that everyone has a chance to participate. Turning to Slide 4. I will now hand the call over to Emma.
Welcome to everyone joining us today. Please turn to the next slide. I am delighted to report that GSK's momentum this year continues with excellent second quarter
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