On Wednesday, British multinational pharmaceutical GSK Plc (NYSE:GSK) reported first-quarter sales of $9.46 billion (7.52 billion Sterling Pounds), up 2% year-over-year and 4% on constant currency. Analysts had estimated sales of $7.46 billion.
Vaccine sales fell 8% (-6% at constant currency) to 2.09 billion pounds, primarily impacted by lower demand for Arexvy related to a more limited ACIP recommendation and lower demand for Shingrix in the U.S. and International. Meningitis vaccines continued to show strong demand with double-digit sales growth.
Arexvy sales reached 78 million pounds, down 57%. Meningitis vaccine sales increased 17% (+20%) to 350 million, while established vaccine sales of 799 million fell 5% (-3%).
Shingrix sales reached 867 million pounds, down 8% (-7% at constant currency).
Also Read: FDA Approves GSK’s Oral Antibiotic For Urinary Tract Infections For Females Aged 12 Years And Older
Specialty Medicines sales grew by double-digit percentages (+16% and 17% on constant currency) in the quarter to 2.93 billion pounds, reflecting continued growth across disease areas, with strong performances in HIV, Respiratory, Immunology and Inflammation, and oncology.
General Medicines sales fell by 3% to 2.49 billion pounds.
The company reported a core EPS of $1.13 (44.9 pence), beating the consensus of $1.04.
GSK plans to market five new specialty medicines this year, including the return of the previously withdrawn multiple myeloma treatment Blenrep.
Tariffs: GSK notes that the U.S. Administration has initiated an investigation under Section 232 of the Trade Expansion Act to determine the effects of pharmaceutical product imports on national security.
The company is well positioned to respond to the potential financial impact of sector-specific tariffs, should they be implemented, with mitigation options identified in the supply chain and productivity initiatives.
Guidance: GSK reaffirms 2025 guidance and expects sales to grow between 3% and 5%, with core earnings per share and operating profit growing between 6% and 8%.
Specialty Medicine sales are expected to increase by a low double-digit percent, Vaccine revenue is expected to decline by a low single-digit percent, and general medicine sales are expected to be broadly stable.
Price Action: At last check on Wednesday, GSK stock was up 3.57% to $40.37 during the premarket session.
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