Trending: GSK's 3Q Profits Drive Full-Year Guidance Hike, Despite Missing Market Views

1147 GMT - GSK is among the most mentioned companies across news items over the past five hours, according to Factiva data. The British pharmaceutical giant on Wednesday hiked full-year guidance as third quarter net profit rose, mainly reflecting the U.S. launch of its Arexvy vaccine--though it still missed market expectations. GSK reported a net profit from continuing operations of 1.46 billion pounds ($1.77 billion), boosted by the vaccine for respiratory syncytial virus, compared with GBP759 million a year earlier and a company-compiled consensus of GBP1.87 billion. "The launch in the U.S. is going well due to strong demand but also benefiting from some initial inventory build," Quilter Cheviot healthcare research analyst Sheena Berry said in a market comment. Turnover for the period rose to GBP8.15 billion from GBP7.83 billion, beating analysts' expectations of GBP7.77 billion. For the year, GSK expects turnover to increase between 12% and 13%, compared with previous guidance of 8% to 10%, and adjusted operating profit to increase between 13% and 15%, up from 11% to 13%. "GSK offers good earnings growth potential for investors, but with risks still present, focus has to turn to business development to enhance the pipeline and product offering to help it continue this growth in the medium and long terms," Berry said. Shares are down 1.5% at 1,435.8 pence. Dow Jones & Co. owns Factiva. ([e-mail])

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November 01, 2023 08:03 ET (12:03 GMT)

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