Glaxo boosted by strong demand for its shingles vaccine ahead of planned demerger of consumer health arm
A rebound in demand for its shingles vaccine has boosted Glaxosmithkline ahead of the planned demerger of its consumer health business.
The pharma giant reported a 32 per cent rise in first quarter revenues to £9.8billion while profits jumped 39 per cent to £2.6billion.
Sales of the Shingrix shingles vaccine doubled to nearly £700million following disruption a year ago when Covid jabs were given priority.
Shingles relief: Glaxosmithkline reported a 32% rise in first quarter revenues to £9.8bn while profits jumped 39% to £2.6bn
GSK also raked in £1.3billion of sales of its coronavirus antibody treatment Xevudy.
Chief executive Emma Walmsley said she expects sales over the full year to rise by between 5 per cent and 7 per cent.
The results came ahead of the planned demerger of its consumer health business, which owns Sensodyne toothpaste and Panadol painkillers and will become a separate company called Haleon in July.
Astrazeneca’s Enhertu drug, intended for patients suffering from breast cancer to slow progression of the disease and increase survival rates, has been designated a breakthrough treatment by US regulators.