Sales growth across Pharmaceuticals,
Pharmaceuticals
+24% CER; Respiratory +33% CER;
Vaccines
COVID-19 solutions sales
Cost discipline supports delivery of EPS growth
Q3 net cash flow from operations
Continued momentum in R&D delivery and strengthening of pipeline
Additional regulatory indications approved for Nucala in respiratory and Jemperli in cancer
HIV progress with FDA priority review of cabotegravir for prevention of HIV (PDUFA action date
Positive Phase III data on daprodustat in anaemia due to chronic kidney disease to be presented at the
COVID-19 solutions: approval in
Progress on demerger to create new world-leading
New
Announcement expected of Chair Designate in Q4 2021 2021 EPS guidance improved and reconfirm 2022 outlook
Now expect 2021 Adjusted EPS to decline between -2% to -4% at CER excluding COVID-19 solutions, previously mid-to-high single digit decline
Now expect 2021 Adjusted EPS contribution from COVID-19 solutions of 7% to 9% at CER
Expectation for meaningful improvement in revenues and margins in 2022 reconfirmed
2022 outlook excludes any contribution from COVID-19 solutions
'GSK has delivered another quarter of strong business performance, with double-digit sales growth in Pharmaceuticals and Vaccines, increased momentum in
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Assumptions and cautionary statement regarding forward-looking statements
The Group's management believes that the assumptions outlined above are reasonable, and that the guidance, outlooks, ambitions and expectations described in this report are achievable based on those assumptions. However, given the forward-looking nature of these guidance, outlooks, ambitions and expectations, they are subject to greater uncertainty, including potential material impacts if the above assumptions are not realised, and other material impacts related to foreign exchange fluctuations, macro-economic activity, the impact of outbreaks, epidemics or pandemics, such as the COVID-19 pandemic and ongoing challenges and uncertainties posed by the COVID-19 pandemic for businesses and governments around the world, changes in legislation, regulation, government actions or intellectual property protection, product development and approvals, actions by our competitors, and other risks inherent to the industries in which we operate.
This document contains statements that are, or may be deemed to be, 'forward-looking statements'. Forward-looking statements give the Group's current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as 'anticipate', 'estimate', 'expect', 'intend', 'will', 'project', 'plan', 'believe', 'target', 'aim', 'ambition' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, dividend payments and financial results. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation, the
Forward-looking statements are subject to assumptions, inherent risks and uncertainties, many of which relate to factors that are beyond the Group's control or precise estimate. The Group cautions investors that a number of important factors, including those in this document, could cause actual results to differ materially from those expressed or implied in any forward-looking statement. Such factors include, but are not limited to, those discussed under Item 3.D 'Risk Factors' in the Group's Annual Report on Form 20-F for 2020 and any impacts of the
COVID-19 pandemic. Any forward looking statements made by or on behalf of the Group speak only as of the date they are made and are based upon the knowledge and information available to the Directors on the date of this report.
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