In 2021, GSK made 1.4 billion pounds ($1.9 billion) in Covid-19 linked sales, primarily for the antibody medicine sotrovimab, in its first earnings report since rejecting a proposal from Unilever for its consumer business.
Pandemic-related revenues in 2022 are likely to be similar to those in 2021, but they will contribute less to profit because to reduced margins on its antibody treatment, according to the British manufacturer.
The results are a boost for Chief Executive Emma Walmsley, as GSK's Covid-19 vaccines programs have stalled, and the anticipated spin-off of the consumer partnership with Pfizer has put the pharmaceuticals business's future in the spotlight.
For the three months ended Dec. 31, adjusted earnings per share were 25.6 pence per share, while turnover increased 13 percent to 9.53 billion pounds at constant currency rates, beating the consensus of 23.8 pence per share on sales of 9.49 billion pounds.
"We have ended the year strongly, with another quarter of excellent performance ... and we enter 2022 with good momentum," Walmsley said. "This is going to be a landmark year for GSK".
After rejecting a 50 billion pound acquisition offer from Unilever in December, the business is forging ahead with the spin-off of the consumer arm, which includes trademarks like Sensodyne toothpaste and Advil painkillers.
Sotrovimab, created by GSK in collaboration with Vir Biotechnology, is one of the few Covid-19 therapies that has been found to act against the fast-spreading Omicron form, resulting in a surge in demand. In 2021, it was one of GSK's best-selling products.
1.7 million doses of Sotrovimab have been ordered by countries around the world, with the United States securing a second contract for the treatment last month. Supplies have also been obtained by Canada and the European Union.
In the fourth quarter, sales of sotrovimab, marketed as Xevudy, were 828 million pounds, up from 114 million pounds in the previous quarter and considerably above market projections of 774 million pounds.
The shingles vaccination Shingrix, which has been a significant profitability driver in recent quarters, saw revenue drop 7 per cent to 597 million pounds as pandemic limitations prevented the elderly target population from getting the shot, but sales still exceeded expectations of 548 million pounds.
After the spin-off of its consumer unit, the company expects revenues to climb between 5 per cent and 7 per cent in 2022, with adjusted operating profit growing between 12 per cent and 14 per cent, including a boost from a settlement with Gilead but not sales of its Covid-19 medicines.
On revenues of 36.28 billion pounds, analysts predicted group earnings of 120.8 pence per share, an increase of around 8 per cent from 2021.
(Sourcee:www.nasdaq..com)
Pandemic-related revenues in 2022 are likely to be similar to those in 2021, but they will contribute less to profit because to reduced margins on its antibody treatment, according to the British manufacturer.
The results are a boost for Chief Executive Emma Walmsley, as GSK's Covid-19 vaccines programs have stalled, and the anticipated spin-off of the consumer partnership with Pfizer has put the pharmaceuticals business's future in the spotlight.
For the three months ended Dec. 31, adjusted earnings per share were 25.6 pence per share, while turnover increased 13 percent to 9.53 billion pounds at constant currency rates, beating the consensus of 23.8 pence per share on sales of 9.49 billion pounds.
"We have ended the year strongly, with another quarter of excellent performance ... and we enter 2022 with good momentum," Walmsley said. "This is going to be a landmark year for GSK".
After rejecting a 50 billion pound acquisition offer from Unilever in December, the business is forging ahead with the spin-off of the consumer arm, which includes trademarks like Sensodyne toothpaste and Advil painkillers.
Sotrovimab, created by GSK in collaboration with Vir Biotechnology, is one of the few Covid-19 therapies that has been found to act against the fast-spreading Omicron form, resulting in a surge in demand. In 2021, it was one of GSK's best-selling products.
1.7 million doses of Sotrovimab have been ordered by countries around the world, with the United States securing a second contract for the treatment last month. Supplies have also been obtained by Canada and the European Union.
In the fourth quarter, sales of sotrovimab, marketed as Xevudy, were 828 million pounds, up from 114 million pounds in the previous quarter and considerably above market projections of 774 million pounds.
The shingles vaccination Shingrix, which has been a significant profitability driver in recent quarters, saw revenue drop 7 per cent to 597 million pounds as pandemic limitations prevented the elderly target population from getting the shot, but sales still exceeded expectations of 548 million pounds.
After the spin-off of its consumer unit, the company expects revenues to climb between 5 per cent and 7 per cent in 2022, with adjusted operating profit growing between 12 per cent and 14 per cent, including a boost from a settlement with Gilead but not sales of its Covid-19 medicines.
On revenues of 36.28 billion pounds, analysts predicted group earnings of 120.8 pence per share, an increase of around 8 per cent from 2021.
(Sourcee:www.nasdaq..com)
