How well is GSK really doing? CEO Walmsley is upbeat but analysts have concerns

RESEARCH TRIANGLE PARK – Drug giant GSK reported early Wednesday profits and revenues which beat expectations, and CEO Emma Walmsley delivered an upbeat summary of company performance.

“2022 was a landmark year for GSK delivering the step change in performance we committed to, driven by strong growth in specialty medicines and vaccines, including record sales for [shingles drug] Shingrix,” Walmsley said.

“We enter 2023 with good momentum, underpinning confidence in our ambitious sales and profit outlooks for 2026. At the same time, we continue to build a stronger portfolio and pipeline based on infectious diseases and the science of the immune system, including our potential new RSV vaccine. This momentum, together with further targeted business development, means GSK will also be in a strong position to deliver growth from 2026 onwards.”

Watch the video:

But some analysts are expressing concerns about GSK’s product pipeline.

“The big question is oncology, there’s a lot of skepticism about the return GSK has been getting in investor dollars,” said Barclays analyst Emily Field, according to Reuters.

Read more at: https://www.reuters.com/business/healthcare-pharmaceuticals/gsk-reports-q4-profit-sales-beat-wall-street-estimates-2023-02-01/

Read the full earnings report at: https://www.gsk.com/en-gb/media/press-releases/gsk-delivers-strong-2022-performance-with-full-year-sales-of-293-billion/

GSK employs thousands of people across the Triangle.

The post How well is GSK really doing? CEO Walmsley is upbeat but analysts have concerns first appeared on WRAL TechWire.

vaccines
pharmaceuticals
healthcare