GSK PLC on Wednesday raised its guidance for the full year and posted rising sales for the third quarter that beat expectations.
The British pharma major
posted sales of 7.83 billion pounds ($8.99 billion) for the third quarter, up from GBP6.63 billion the year prior, and beating a company-provided consensus of GBP7.32 billion.
Third-quarter operating profit was GBP1.19 billion, slightly down from GBP1.38 billion the year prior, due to the fair-value loss on the retained stake in consumer-healthcare business Haleon, which was spun off earlier in the year. Total earnings per share also fell to 18.8 pence from 21.9 pence the year prior for the same reason, GSK said.
After-tax profit for the quarter clocked in at GBP779 million, down from GBP946 million in the third quarter of 2021, according to the company.
GSK expects 2022 sales to increase between 8% and 10% and adjusted operating profit to increase between 15% and 17%, excluding contributions from Covid-19 solutions. Adjusted earnings per share are expected to grow around 1% lower than operating profit.
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