UK-based pharmaceutical giant GlaxoSmithKline plc (GSK, NYSE: GSK) has released its financial report for the second quarter of 2023, demonstrating a robust performance with sales revenues increasing by 4% year-on-year (YOY) in constant currency terms to GBP 7.178 billion (USD 9.3 billion). Excluding COVID-19-related sales, the growth was even more pronounced at 11% YOY.
CEO Emma Walmsley’s Comments and Guidance Upgrade
CEO Emma Walmsley highlighted that the results reflect the company’s ongoing return to strength and justified an upgrade to the annual guidance for full-year performance. Sales turnover for 2023 is now expected to reach 8%-10%, an increase from the previous projection of 6%-8%.
Vaccines Unit Outperforms with 18% Growth
The Vaccines unit was a standout performer with growth at 18%, with the shingles vaccine Shingrix enjoying a 20% YOY sales expansion during the quarter. Specialty Medicines sales were down -7%, but excluding COVID, they showed a significant increase of 12%, with HIV sales up 12%. General Medicines sales were up 8%, with the asthma drug Trelegy (fluticasone, umeclidinium, and vilanterol) experiencing a substantial 30% YOY growth.
Pipeline Catalysts and Market Approvals
GSK boasts a notably strong pipeline with several H2’23 pipeline catalysts. The triple-action targeted therapy momelotinib, which targets the JAK1 and 2 pathways as well as activin A receptor, type I (ACVR1), is set for a first market approval for the treatment of myelofibrosis. The programmed death-1 (PD-1) inhibitor Jemperli (dostarlimab) already has clearance for three indications in the US market, and GSK expects to add approval for the drug as a first-line treatment for mismatch repair-deficient (MMRd) endometrial cancer.
In China, the National Medical Products Administration (NMPA) approved HIV therapy Vocabria (cabotegravir) earlier this month. GSK also anticipates an NMPA decision on IL-5 antibody Nucala (mepolizumab) for an additional indication of chronic rhinosinusitis with nasal polyps (CRSwNP), which would significantly expand the drug’s market compared to its first China indication for the rare disease eosinophilic granulomatosis with polyangiitis (EGPA), awarded in June 2022.
Decision to Cease Development of Jesduvroq in Europe
GSK has decided to cease development in Europe for its preferred hypoxia-inducible factor–prolyl hydroxylase inhibitor (HIF-PHI) Jesdruvroq (daprodustat), despite recently receiving a positive Committee for Medicinal Products for Human Use (CHMP) opinion for anemia associated with chronic kidney disease (CKD) in adults on chronic maintenance dialysis. The decision was based on a significant reduction in the size of the opportunity and the exclusion of the nondialysis population, as well as the availability of other medicines for patients living with CKD-related anemia. Jesduvroq is already approved in the US for CKD dialysis patients, and development in that market remains unaffected.-Fineline Info & Tech
