{"id":10607,"date":"2024-10-31T14:50:22","date_gmt":"2024-10-31T06:50:22","guid":{"rendered":"https:\/\/flcube.com\/?p=10607"},"modified":"2024-10-31T14:50:26","modified_gmt":"2024-10-31T06:50:26","slug":"gsk-reports-mixed-q3-2024-results-with-2-yoy-revenue-growth","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=10607","title":{"rendered":"GSK Reports Mixed Q3 2024 Results with 2% YOY Revenue Growth"},"content":{"rendered":"\n

UK pharmaceutical giant GlaxoSmithKline (GSK; NYSE: GSK<\/a>) has released its financial report for the third quarter of 2024, showing a modest 2% year-on-year (YOY) increase in revenue to GBP 8 billion (USD 10.496 billion) at constant exchange rates. The quarter’s performance was propelled by a 19% surge in the Specialty Medicines unit to GBP 2.966 billion (USD 3.85 billion) and a 7% rise in General Medicines to GBP 2.396 billion (USD 3.11 billion), which helped offset a 15% decline in the Vaccines unit to GBP 2.65 billion (USD 3.44 billion).<\/p>\n\n\n\n

In the Vaccines business, Shingrix, the herpes zoster vaccine, saw a 7% YOY decrease to GBP 739 million (USD 960 million). RSV vaccine Arexvy’s sales plummeted 72% to GBP 188 million (USD 244 million), attributed to guideline restrictions, prioritization of COVID vaccinations in the US, and challenging comparisons to its strong launch last year. Meningitis vaccines Bexsero and Menveo posted sales of GBP 334 million (USD 434 million, +30%) and GBP 173 million (USD 225 million, +7%), respectively.<\/p>\n\n\n\n

The Specialty Medicines sector reported significant growth, with HIV sales increasing 12% to GBP 1.75 billion (USD 2.27 billion), Oncology soaring 94% to GBP 373 million (USD 485 million), and Respiratory\/Immunology and other rising 14% YOY to GBP 843 million (USD 1.095 billion). Oncology growth was driven by Ojjara (momelotinib) with GBP 98 million (USD 1.27 billion) in sales, Jemperli with GBP 130 million (USD 169 million), and Zejula with GBP 144 million (USD 187 million). HIV sales were boosted by strong demand for Oral 2DR (Dovato, Juluca) and long-acting medicines (Cabenuva, Apretude). Cabenuva’s Q3 2024 sales reached GBP 245 million (USD 318 million), growing 40%, while Apretude’s sales grew 95% to GBP 69 million (USD 89 million) compared to Q3 2023. Dovato generated GBP 567 million (USD 737 million) in sales.<\/p>\n\n\n\n

GSK is planning for five major new product approval opportunities for 2025, including Blenrep, Depemokimab, Nucala for COPD, Gepotidacin, and its new vaccine to prevent meningitis (MenABCWY). The company will discontinue Phase II clinical trials for four drugs: 24-valent pneumococcal vaccine GSK5101956, gonorrhea therapy GSK4348413, herpes simplex virus vaccine GSK3943104, and analgesic CCL17 antibody GSK3858279.- Flcube.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UK pharmaceutical giant GlaxoSmithKline (GSK; NYSE: GSK) has released its financial report for the third…<\/p>\n","protected":false},"author":1,"featured_media":10608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[27,184,914],"class_list":["post-10607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","tag-finanical-reports","tag-gsk","tag-nyse-gsk"],"yoast_head":"\nGSK Reports Mixed Q3 2024 Results with 2% YOY Revenue Growth - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"UK pharmaceutical giant GlaxoSmithKline (GSK; NYSE: GSK) has released its financial report for the third quarter of 2024, showing a modest 2% year-on-year (YOY) increase in revenue to GBP 8 billion (USD 10.496 billion) at constant exchange rates. 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