GSK has lifted its full-year profit forecast after the world’s first jab for the respiratory syncytial virus (RSV) helped power a strong third quarter of vaccine sales at the UK drugmaker.
The pharmaceutical company now expects annual revenue to increase by 12 to 13 per cent, up from its previous guidance of 8 to 10 per cent. Adjusted earnings per share will grow between 17 and 20 per cent, exceeding an earlier expectation of 14 to 17 per cent, the company said on Wednesday.
In the third quarter, sales of vaccines increased by 33 per cent from a year earlier, driven by Arexvy, the group’s the newly launched jab for RSV. GSK said it benefited from some initial inventory stocking for Arexvy after its launch this quarter and expects full year sales to be between £900mn and £1bn.