Boost: Glaxo CEO Emma Walmsley (pictured)
GlaxoSmithKline posted a jump in sales yesterday, but shares fell on fears over its vaccines division.
In a boost for the pharmaceutical giant’s chief executive Emma Walmsley, turnover rose 8 per cent to £15.25 billion, helped by cancer and HIV treatments, while profits rose 18 per cent to £2.5 billion.
This prompted an upgrade in its earnings outlook, although it lowered sales guidance for its vaccines division.
“The performance was broad-based, although sales of the shingles vaccine Shingrix fell 4 percent,” said Derren Nathan, an analyst at Hargreaves Lansdown.
‘Although GSK’s results beat expectations and full-year guidance was improved, the vaccines division is faltering.’
AJ Bell’s Russ Mould said: “Its shingles treatment is the problem child that hasn’t done well in the US.” The shares fell 2 per cent, or 30.5p, to 1,512p.