GSK sees FY23 adjusted EPS up 14%-17%

Sees adjusted operating profit growth 11%-13%. Sees turnover to increase 8%-10%. The company said, “During the first half of 2023, GSK exceeded its full-year guidance expectations with a strong performance. This was due to GSK’s strong business momentum across all product areas but particularly in HIV, as well as in General Medicines. The strong allergy season and a favourable post-pandemic recovery in comparison to the first half of 2022 also contributed to the performance. As a result, GSK has upgraded its full-year 2023 guidance at constant exchange rates, excluding any contributions from COVID-19 solutions…In the second half of 2023, GSK expects continued strong performance across all three product areas but with lower growth reflecting a tough comparison to the second half of 2022, particularly in HIV and General Medicines. GSK still expects Adjusted operating profit growth to be higher in the second half of 2023 relative to full-year expectations, with growth of investment reducing in the second half, particularly in the fourth quarter. This guidance is supported by the following turnover expectations for full year 2023 at CER: Vaccines – expected increase of mid-teens per cent in turnover; Specialty Medicines – expected increase of high single-digit per cent in turnover; General Medicines – expected increase of low single-digit per cent in turnover.”