Trending: GSK Hikes its Sales and Earnings Outlook After Beating Market Views

1054 GMT - GSK is among the most mentioned companies across news items over the past four hours, according to Factiva data. The British pharma major said it expects to further grow sales and earnings after its best-selling shingles vaccine Shingrix and the launch of RSV vaccine Arexvy helped it beat analysts' estimates for the fourth quarter. GSK's shares have slipped 0.9% to 1,523.6 pence, though they are up 4.9% in the last month, and 6.8% over the last year--well ahead of the 1% fall over the month and 1.5% decline in the past year in the wider FTSE 100. The company posted fourth-quarter sales of 8.05 billion pounds ($10.22 billion), up from GBP7.33 billion the year prior and beating a Visible Alpha consensus of GBP7.61 billion. It said it expects further growth in profit and turnover in 2024, and hiked its longer-term 2021-26 outlook, now forecasting sales rising more than 7% on a compound annual growth rate basis. "Whilst some questions might remain around GSK's pipeline and its ability to deliver long-term growth, we sense the outlook here has improved during 2023 and believe GSK has the momentum in portfolio and pipeline to deliver longer-term growth," Shore Capital says. Dow Jones & Co. owns Factiva. (joseph.hoppe@wsj.com)

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January 31, 2024 06:09 ET (11:09 GMT)

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