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    GSK   GB0009252882

GLAXOSMITHKLINE PLC

(GSK)
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GlaxoSmithKline Expects Sales, Profit to Grow Through 2026, Driven by Vaccines, Specialty Medicines

06/23/2021 | 04:40am EDT

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

06-23-21 0640ET

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Financials
Sales 2021 33 019 M 45 387 M 45 387 M
Net income 2021 3 385 M 4 653 M 4 653 M
Net Debt 2021 21 463 M 29 503 M 29 503 M
P/E ratio 2021 20,7x
Yield 2021 5,65%
Capitalization 70 858 M 97 479 M 97 401 M
EV / Sales 2021 2,80x
EV / Sales 2022 2,61x
Nbr of Employees 94 066
Free-Float 92,3%
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Number of Analysts 27
Last Close Price 1 416,00 GBX
Average target price 1 518,63 GBX
Spread / Average Target 7,25%
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Emma N. Walmsley Chief Executive Officer & Executive Director
Iain James Mackay Chief Financial Officer & Executive Director
Jonathan Richard Symonds Non-Executive Chairman
Karenann K. Terrell Chief Digital & Technology Officer
Hal V. Barron Executive Director & Chief Scientific Officer
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