Adjusted EPS of 50.4p ($1.27 Adj. EPADS) increased 7% on AER and 17% on CER, beating the Wall Street estimate of $1.07.
Emma Walmsley, CEO, commented, "GSK is delivering strong and sustained performance momentum, with another quarter of double-digit sales and earnings growth. Competitive performance was broadly based but benefitted particularly from the outstanding US launch of Arexvy, the world's first RSV vaccine. Our excellent execution supports an upgrade to our full-year 2023 guidance, and we have clear momentum as we look ahead to deliver our 2026 outlooks."
Vaccine sales increased 33% to £3.22 billion (+34% ex COVID), with Shingrix sales up 15% to £825 million and newly launched respiratory syncytial virus (RSV) vaccine Arexvy sales of £709 million.
Specialty Medicines sales declined 1% to £2.59 billion (+17% ex COVID), with HIV sales up 15%.
Adjusted operating profit increased 6% (15% at CER) to £2.77 billion.
Guidance: GSK raised FY23 sales growth guidance to 12%-13%, up from previous guidance of 8%-10%.
Meanwhile, adjusted operating profit is expected to increase 13%-15%, from previous guidance of 11%-13%.
GSK expects adjusted earnings per share growth of between 17%-20% versus previous guidance of 14%-17%.
The company GSK assumes sales of Arexvy will track in line with high-dose flu analogs. For FY23, GSK expects Arexvy sales between £900 million-£1 billion.
Price Action: GSK shares are down 2.27% at $34.89 during the premarket session on the last check Wednesday.