Shingles vaccine boosts GSK in first results since spin-off

RECORD sales of shingles vaccines propelled Glaxosmithkline to raise its sales and profit forecasts for the year in its first set of results since the demerger of its consumer healthcare unit.

GSK said sales of the Shingrix vaccine more than doubled in its second quarter to hit £731m, helping send total revenues for the period 13pc higher. It is now on track to post annual sales growth of between 6pc and 8pc for 2022, compared to an earlier forecast of between 5pc and 7pc.

Profits are expected to rise between 13pc and 15pc, up from between 12pc and 14pc previously expected.

It is a boost for Dame Emma Walmsley as she pushes ahead with plans to supercharge growth at the pharmaceutical and vaccine business following GSK’S demerger last week. GSK spun off the consumer health business, Haleon, in the largest corporate restructuring in two decades, ceding control of brands including Sensodyne and Panadol.

Dame Emma said: “This is GSK’S first set of results as a newly focused biopharma company, and we have delivered an excellent second quarter performance, with strong growth in specialty medicines, including HIV, and a record quarter for our shingles vaccine Shingrix.”

It comes after countries started to shift their focus away from Covid towards other jab campaigns. GSK’S shares are up 44pc since last spring.

Separately yesterday, Haleon issued its first set of results as a separate company. The company upgraded guidance for 2022 after posting like-for-like net revenue growth of 11.6pc for the first half of the year, partly driven by price increases.