GSK (GlaxoSmithKline) unveils impressive first-quarter results for 2024, driven by robust sales and profit growth across its diverse portfolio. Key highlights include significant increases in total sales, particularly in vaccines and specialty medicines.

Highlights

• Total Q1 2024 sales reached ￡7.4 billion, representing a 10% increase.
• Operating profit surged by 27%.
• Core EPS soared by 28%.
• Strong cash generation with over ￡1 billion generated from operations.

Financial Performance

GSK witnessed broad-based sales growth, with vaccines sales up by 16% and specialty medicines sales up by 17%. Despite challenges, general medicines sales remained steady. The company reported a core operating profit increase of 27% and a core EPS increase of 28%, driven by robust sales and operational efficiencies.

R&D and Business Development

GSK's commitment to innovation is evident in its pipeline progress, with positive phase III readouts for several key medicines. The company's vaccine portfolio received regulatory acceptance for new indications, further strengthening its position in infectious diseases.

Guidance and Dividends

GSK updated its guidance for 2024, expecting growth towards the upper end of the range across key financial metrics. Additionally, a dividend of 15p for Q1 2024 and an expected full-year dividend of 60p were declared.

CEO Statement

GSK's CEO, Emma Walmsley, expressed satisfaction with the strong start to 2024, highlighting the company's continued pipeline progress and prospects for growth across therapeutic areas. She emphasized GSK's commitment to delivering meaningful growth in sales and earnings for the year.

Forward-looking Statements

GSK's management acknowledges the uncertainties inherent in forward-looking statements and advises caution. While optimistic about future prospects, the company remains vigilant of factors beyond its control that could impact results.

Date source：https://www.gsk.com/media/11099/q1-2024-results-announcement.pdf