GSK raises 2023 earnings guidance on strong second-quarter sales

Q2 sales and earnings beat estimatesInvestor concerns on pipeline, Zantac claimsraised its full-year profit and sales guidance on Wednesday after its second-quarter earnings beat expectations, helped by strong sales of its shingles vaccine Shingrix and HIV medicines.

The company now expects sales to increase by 8% to 10% this year, compared with 6% to 8% previously and for adjusted operating profit to increase between 11 to 13%, up from 10% to 12%. The better-than-expected results may further help revive investor confidence in Walmsley's strategy, coming a year after the company spun off its consumer health business, Haleon, in its most radical shake-up in 20 years.about the strength of its pipeline of drugs in development and costly U.S. litigation over discontinued heartburn drug Zantac.

Analysts were expecting a profit of 34.7 pence per share on sales of about 6.77 billion pounds, according to company-compiled consensus estimates.

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