GlaxoSmithKline Expects Sales, Profit to Grow Through 2026, Driven by Vaccines, Specialty Medicines
June 23 2021 - 6:49AM
Dow Jones News
By Cecilia Butini
GlaxoSmithKline PLC said Wednesday that it expects growth in
sales and adjusted operating profit over the next five years to be
underpinned by new vaccines and specialty medicines, as it set
targets for the medium and long term following the planned 2022
demerger of its consumer healthcare business.
The British pharmaceutical major said it expects to deliver
sales growth of more than 5% and adjusted operating profit of more
than 10% for the period going from 2021 to 2026, adding that these
targets exclude contribution from Covid-19-related revenue.
Adjusted operating margin is seen improving from the mid-20s in
2021 to over 30% by 2026, GSK said.
In the longer term, meaning until 2031, the company said it aims
to deliver sales of more than 33 billion pounds ($46.04 billion) at
constant exchange rates, which will be achieved by the commercial
execution of the company's late-stage pipeline.
The company resulting from the planned spinoff of GSK's consumer
healthcare business will prioritize research and development and
commercial investment in vaccines and specialty medicines, GSK
said. These areas are expected to grow to around three-quarters of
company sales by 2026, GSK said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
June 23, 2021 06:40 ET (10:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
GSK (NYSE:GSK)
Historical Stock Chart
From Jul 2024 to Aug 2024
GSK (NYSE:GSK)
Historical Stock Chart
From Aug 2023 to Aug 2024