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Highlights

  • GSK's Q3 FY24 turnover rose by 2%, driven by Specialty Medicines.
  • Total operating profit dropped 86% due to a GBP 1.8 billion Zantac settlement charge.
  • GSK expects FY25 turnover to grow by 7-9%.

 GSK PLC (LSE: GSK) is a global pharmaceutical and biotechnology firm. The company is headquartered in London and the company’s stock is a constituent of the FTSE 100 index.

In Q3 FY24, GSK reported a turnover of GBP 8,012 million, a 2% increase compared to the prior corresponding period (pcp). Vaccines sales fell by 15%, with Shingrix declining by 7% and Arexvy dropping by 72%. This decline was attributed to ACIP guideline changes, COVID vaccine prioritisation, and the annualisation of Arexvy's 2023 launch. Specialty Medicines saw a 19% growth, driven by performances in HIV (+12%), oncology (+94%), and respiratory/immunology (+14%). General Medicines rose by 7%, with Trelegy up by 16%.

Total operating profit for Q3 FY24 decreased by 86%, reaching GBP 189 million, down from GBP 1,350 million in pcp. This decline was primarily due to a GBP 1.8 billion charge related to the Zantac settlement. However, core operating profit grew by 5%, reaching GBP 2,761 million, driven by strong performance in Specialty Medicines and effective cost management. Core EPS also increased by 5%.

Recent Business Update

Company Outlook

GSK expects turnover to rise by 7-9%. Core operating profit is forecast to increase by 11-13%, and core EPS is projected to grow by 10-12%.

GSK also revised its expectations for different segments. Vaccines are expected to decline in the low-single digits. Specialty Medicines are anticipated to rise in the high teens. General Medicines are projected to grow in the mid-single digits.

Top 10 Shareholders:

The top 10 shareholders of GSK hold around 20.41% of the total shares. BlackRock Institutional Trust Company, N.A. holds the largest share, with approximately 5.53%. The Vanguard Group, Inc. follows with about 2.88%. The chart below illustrates this distribution.

Stock Information

GSK's stock price has fallen by approximately 7.35% in the past month. Over the past six months, it has tumbled by around 24.37%. GSK's 52-week low is GBX 1,282.50, and its 52-week high is GBX 1,823.50. Currently, the stock is trading below the 52-week high and low average, and its closing price as of 22 November 2024 is GBX 1342.00.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 22 November 2024. The reference data in this report has been partly sourced from EODHD/Others.