SHINGLES JAB GIVES GLAXO SALES A SHOT IN THE ARM

DRUGS giant GlaxoSmithKline raised profit forecasts after soaring sales of its shingles vaccine boosted performance in the second quarter.

The pharma giant reported revenue of £6.9bn in the threemonth period, up 13pc yearon-year, as sales of shingrix more than doubled to a record £731m.

As a result, GSK predicted group sales would grow between 6pc and 8pc this year, up from previous forecasts, while profits were expected to rise 13pc to 15pc, compared with 12pc to 14pc previously.

The results were the first after the demerger of its consumer healthcare arm Haleon, which listed in London this month. Chief executive Emma Walmsley ( pictured) hailed the ‘excellent’ performance, adding that Glaxo was continuing to ‘strengthen’ its pipeline of new drugs.

But the shares rose only 0.1pc, or 0.8p, to 1755.8p after it forecast lower growth in the second half due to more research and development spending.