UK pharmaceutical powerhouse GlaxoSmithKline Plc (GSK) has revised its financial guidance upwards for the second time this year, buoyed by the resounding success of Arexvy, a vaccine designed to combat a common respiratory virus prevalent among older adults. The vaccine’s US and international launch in August has prompted robust third-quarter sales, tallying an impressive £700 million ($850 million).
The remarkable performance of Arexvy has prompted GSK to revise its financial outlook, now projecting sales growth of up to 13% and an adjusted earnings per share increase within the range of 17% to 20%. This optimistic forecast follows GSK’s strategic move to split its pharmaceutical business from its consumer-products division, the latter responsible for the production of renowned brands like Centrum vitamins.
This proactive approach is a part of GSK’s broader strategy to mitigate the challenges stemming from the expiration of exclusive rights on vital drugs, including a critical HIV treatment. The company is actively pursuing various development avenues as it continues to bolster its presence within the global pharmaceutical market.