GlaxoSmithKline PLC (GSK) yesterday beat expectations for its first-quarter revenue and profit, helped by sales of its blockbuster shingles vaccine Shingrix.
The London-listed drugmaker reported adjusted earnings per share of ￡0.37 on revenue of about ￡7 billion (US$8.74 billion).
Analysts were expecting earnings per share of ￡0.37 on revenue of about ￡6.5 billion, company-compiled consensus estimates showed.
Photo: EPA-EFE
The company’s blockbuster shingles vaccine generated ￡833 million, ahead of a GSK-compiled consensus of ￡829 million.
GSK reaffirmed its guidance for this year.
In February, the company predicted sales growth would this year increase 6 to 8 percent and adjusted operating profit would increase 10 to 12 percent at constant exchange rates.
On Wednesday, the company said it expected adjusted operating profit growth to be lower in the first half of the year, as cost increases are expected to affect drug launches, including its keenly watched respiratory syncytial virus (RSV) vaccine.
The company is a key player in the race that also includes Moderna Inc and Pfizer Inc to develop a safe and effective RSV vaccine, which, if approved, is expected to generate billions in sales.
Pfizer and GSK filed applications for US regulatory approval late last year. An decision on GSK’s application is expected by early next month.
Separately, Roche Holding AG’s first-quarter sales exceeded expectations, as revenue from new drugs helped offset a drop in the market for COVID-19 tests.
Sales fell 6.8 percent to 15.3 billion Swiss francs (US$17.2 billion), the Basel, Switzerland-based company said yesterday, beating analyst estimates.
Sales of eye drug Vabysmo and prescription flu treatment Xofluza exceeded expectations, as did revenue in Japan, thanks to orders of COVID-19 medicine Ronapreve. Cancer drug Tecentriq fell slightly short of expectations.
“In the last year we did have some setbacks,” Roche chief executive officer Thomas Schinecker said on a call with reporters.
Still, the company has more than 14 late-stage trials due to deliver results this year and aims to introduce three new medicines, he said.
“We don’t have to hide. We really see that we have a strong, productive R&D [research and development] organization,” he said.
Vabysmo would help drive growth in the coming years, with “still a lot of runway ahead” for sales, he said.
Additional reporting by Bloomberg
Taiwan’s technology protection rules prohibits Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) from producing 2-nanometer chips abroad, so the company must keep its most cutting-edge technology at home, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the remarks in response to concerns that TSMC might be forced to produce advanced 2-nanometer chips at its fabs in Arizona ahead of schedule after former US president Donald Trump was re-elected as the next US president on Tuesday. “Since Taiwan has related regulations to protect its own technologies, TSMC cannot produce 2-nanometer chips overseas currently,” Kuo said at a meeting of the legislature’s
TECH WAR CONTINUES: The suspension of TSMC AI chips and GPUs would be a heavy blow to China’s chip designers and would affect its competitive edge Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, is reportedly to halt supply of artificial intelligence (AI) chips and graphics processing units (GPUs) made on 7-nanometer or more advanced process technologies from next week in order to comply with US Department of Commerce rules. TSMC has sent e-mails to its Chinese AI customers, informing them about the suspension starting on Monday, Chinese online news outlet Ijiwei.com (愛集微) reported yesterday. The US Department of Commerce has not formally unveiled further semiconductor measures against China yet. “TSMC does not comment on market rumors. TSMC is a law-abiding company and we are
FLEXIBLE: Taiwan can develop its own ground station equipment, and has highly competitive manufacturers and suppliers with diversified production, the MOEA said The Ministry of Economic Affairs (MOEA) yesterday disputed reports that suppliers to US-based Space Exploration Technologies Corp (SpaceX) had been asked to move production out of Taiwan. Reuters had reported on Tuesday last week that Elon Musk-owned SpaceX had asked their manufacturers to produce outside of Taiwan given geopolitical risks and that at least one Taiwanese supplier had been pushed to relocate production to Vietnam. SpaceX’s requests place a renewed focus on the contentious relationship Musk has had with Taiwan, especially after he said last year that Taiwan is an “integral part” of China, sparking sharp criticism from Taiwanese authorities. The ministry said
US President Joe Biden’s administration is racing to complete CHIPS and Science Act agreements with companies such as Intel Corp and Samsung Electronics Co, aiming to shore up one of its signature initiatives before US president-elect Donald Trump enters the White House. The US Department of Commerce has allocated more than 90 percent of the US$39 billion in grants under the act, a landmark law enacted in 2022 designed to rebuild the domestic chip industry. However, the agency has only announced one binding agreement so far. The next two months would prove critical for more than 20 companies still in the process
RSS