Fluticasone propionate/Salmeterol xinafoate

Headline results for the first quarter: Revenue: £7.2 billion ($9.3 billion), up 4% Profit: £1.7 billion ($2.3 billion), versus £975 million in the prior year Revenues grew 10% excluding sales of COVID-19 solutionsNote: All changes are versus the prior-year period unless otherwise statedWhat the company said:“We have delivered another excellent quarter of performance, with strong sales and earnings growth, notably in HIV and Vaccines, and continued strengthening of the R&D pipeline and product portfolio,” said CEO Emma Walmsley.GSK recently secured approval of Arexvy, the world’s first RSV vaccine, which Walmsley described as an important milestone for the company and reflective of the “next wave in vaccine innovation at GSK.”Walmsley added “our momentum supports the upgrade we have made to our financial guidance for 2023 and further increases our confidence in delivering longer-term profitable growth for shareholders.”Other results:Speciality medicines: £2.5 billion, down 7% HIV product sales: £1.6 billion, up 13% Dovato: £430 million, up 34% Triumeq: £392 million, down 15% Tivicay: £340 million, down 2% Cabenuva: £176 million, up >100% Oncology product sales: £151 million, down 2% Zejula: £117 million, down 3% Nucala: £424 million, up 16% Benlysta: £358 million, up 21%General medicines: £2.6 billion, up 5% Respiratory: £1.8 billion, up 9% Trelegy Ellipta: £611 million, up 31% Seretide/Advair: £322 million, up 23% Relvar/Breo Ellipta: £288 million, down 7% Vaccine sales: £2 billion, up 18% Shingrix: £880 million, up 20% Bexsero: £194 million, up 18% Menveo: £66 million, down 4%Looking ahead:GSK upgraded its full year guidance and now expects revenues to grow between eight and ten percent and adjusted operating profit to grow between 11% and 13% in 2023.What analysts said:In a note to inventors, Jefferies analyst Peter Welford wrote: “GSK offers robust double-digit EPS growth until HIV patent expiries and US Shingrix shingles vaccine saturation, but still likely needs in-licensing/bolt-ons to then sustain the business, particularly given recent setbacks in oncology. These longer-term fundamental challenges keep us on the sidelines, despite NPVs suggesting the current share price is deeply discounted. The Zantac US litigation overhang is 80%-plus cleared, but persists.” Pipeline updates:Potential filing of Blenrep in second-line multiple myeloma in US and EU now expected in the first half of 2024, as is the read out of Phase III data for Zejula in the FIRST study for ovarian cancer.($1 = £0.77518803) 

Headline results for the first quarter: Revenue: £7 billion ($8.7 billion; forecasts of £6.5 billion), down 3% Profit: £1.5 billion ($1.9 billion; forecasts of £1.2 billion), versus £1.8 billion in the prior yearNote: All changes are versus the prior-year period unless otherwise statedWhat the company said:"We have made a strong start to 2023, with excellent performance across vaccines, specialty and general medicines," remarked CEO Emma Walmsley.GSK disclosed that a judgment was entered against the company on April 5 in its royalty dispute with AstraZeneca over Zejula, although it is considering an appeal. The court upheld AstraZeneca’s interpretation that all current uses of Zejula generate royalty-bearing sales under the wording of two license agreements. As such, GSK will owe past royalties to AstraZeneca, which will be determined at a later date, as well as going forward.Other results:Speciality medicines: £2.2 billion, down 29% HIV product sales: £1.5 billion, up 24% Dovato: £396 million, up 54% Triumeq: £374 million, down 5% Tivicay: £357 million, up 12% Cabenuva: £127 million, up >100% Oncology product sales: £136 million, up 7% Zejula: £114 million, up 16% Nucala: £347 million, up 18% Benlysta: £253 million, up 18% Xevudy: £31 million, down 98%General medicines: £2.7 billion, up 12% Respiratory: £1.8 billion, up 15% Trelegy Ellipta: £465 million, up 37% Seretide/Advair: £339 million, up 12% Relvar/Breo Ellipta: £274 million, flat versus the prior year Vaccine sales: £2 billion, up 22% Shingrix: £833 million, up 19% Bexsero: £218 million, up 34% Menveo: £59 million, up 40%Looking ahead:GSK reiterated that it expects sales this year to increase between 6% and 8% at constant currencies, with operating profit growing in the range of 10% to 12%.What analysts said:Citi analyst Andrew Baum noted that even after stripping out one-time contributions, GSK's underlying revenue and earnings beat were a respectable 3% and 4%, respectively, in the quarter.Pipeline updates:GSK said that earlier this month it ended enrolment in the Phase III ZEST study investigating the PARP inhibitor Zejula in patients with either HER2-negative BRCA-mutated or triple-negative breast cancer with molecular disease based on the presence of circulating tumour DNA (ctDNA) after definitive therapy. The company explained that recruitment for the trial was "much more challenging" than initially thought as the prevalence of radiologically detectable metastatic disease among patients who are ctDNA positive is much higher than expected. This enabled patients to be referred for treatment of metastatic cancer ahead of clinical symptoms, making patients ineligible for ZEST.($1 = £0.801407)