On October 27, 2021 GSK reported that strong Q3 sales of £9.1 billion +5% AER, +10% CER Total EPS 23.3p -7% AER, +3% CER; Adjusted EPS 36.6p +3% AER, +10% CER 2021 full year EPS guidance improved (Press release, GlaxoSmithKline, OCT 27, 2021, View Source [SID1234592009])
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Pharmaceuticals £4.4 billion +5% AER, +10% CER with growth in New and Specialty medicines
+24% CER; Respiratory +33% CER; Immuno-inflammation +32% CER ex-COVID-19 solutions; Oncology +34% CER; total HIV +8% CER
Vaccines £2.2 billion +7% AER, +13% CER with Shingrix £502 million +41% CER
COVID-19 solutions sales £209 million; Xevudy £114 million and pandemic adjuvant £94 million
Consumer Healthcare £2.5 billion +3% AER, +8% CER (+10% excluding divestments/brands under review)
Cost discipline supports delivery of EPS growth
Total Group operating margin 21.4%. Total EPS 23.3p -7% AER, +3% CER
Adjusted Group operating margin 31.7%. Adjusted EPS 36.6p +3% AER, +10% CER. This included a contribution to growth from COVID-19 solutions of approximately +5% AER, +5% CER in Q3 (+6% AER,+6% CER in the nine months)
Q3 net cash flow from operations £2.6 billion. Free cash flow £1.2 billion
Continued momentum in R&D delivery and strengthening of pipeline
Additional regulatory indications approved for Nucala in respiratory and Jemperli in cancer
HIV progress with FDA priority review of cabotegravir for prevention of HIV (PDUFA action date 23 Jan 2022) and new collaboration on ultra long-acting integrase inhibitor
Positive Phase III data on daprodustat in anaemia due to chronic kidney disease to be presented at the American Society of Nephrology meeting in Nov 2021
COVID-19 solutions: approval in Japan for Xevudy and ongoing discussions with several governments Phase III start with SK Bioscience for adjuvanted COVID-19 vaccine
World Health Organization recommendation for broad roll-out of RTS,S malaria vaccine for children living in sub-Saharan Africa
Progress on demerger to create new world-leading Consumer Healthcare company in 2022
New UK Corporate Headquarters announced
Announcement expected of Chair Designate in Q4 2021
2021 EPS guidance improved and reconfirm 2022 outlook
Now expect 2021 Adjusted EPS to decline between -2% to -4% at CER excluding COVID-19 solutions, previously mid-to-high single digit decline
Now expect 2021 Adjusted EPS contribution from COVID-19 solutions of 7% to 9% at CER
Expectation for meaningful improvement in revenues and margins in 2022 reconfirmed
2022 outlook excludes any contribution from COVID-19 solutions
Dividend of 19p declared for Q3 2021. Continue to expect 80p/share for 2021
Emma Walmsley, Chief Executive Officer, GSK said:
"GSK has delivered another quarter of strong business performance, with double-digit sales growth in Pharmaceuticals and Vaccines, increased momentum in Consumer Healthcare, and continued discipline on costs. This has allowed us to improve our full-year guidance and, alongside the progress in strengthening our R&D pipeline, reinforces our confidence in the outlook for a step-change in growth and performance in 2022 and beyond. We also continue to make excellent progress towards unlocking the value of Consumer Healthcare through a successful demerger in mid-2022."