GSK stays strong as healthy sales beat expectations - Reuters
Companies GSK plc Follow Moderna Inc Follow Pfizer Inc Follow Haleon Plc Follow LONDON, April 26 (Reuters) - GSK (GSK.L) began 2023 with a quarterly performance that beat analyst expectations and extended a series of positive results following strong sales of its roster of vaccines as well as HIV and respiratory medicines. It reaffirmed its guidance for 2023, saying it expected adjusted operating profit growth to be higher in the second half, but lower in the first half of the year when expected drug launches will increase costs. The British drugmaker carved out its consumer health business Haleon (HLN.L) last year and has in recent quarters begun to reverse years of underperformance relative to its peers and from largely missing out on the market for COVID-19 vaccines. Even after stripping out one-time contributions, the underlying revenue and earnings beat are a respectable 3% and 4% respectively, Citi analyst Andrew Baum wrote in a note. He added there was little material risk to GS...