RSV Seasonal Vaccine Introduction and Growth Strategy
Delivered a strong Q2 2023 financial performance
Q2'22
Q2'23
AER
CER
Adjusted results
£m
£m
%
%
Sales
6,929
7,178
4
4
Cost of goods sold
(1,970)
(1,728)
(12)
(12)
Gross profit
4,959
5,450
10
11
Gross profit margin
71.6%
75.9%
440 bps
430 bps
Selling, general and administrative
(1,955)
(2,191)
12
11
Research and development
(1,155)
(1,315)
14
13
Royalties
159
226
42
44
Operating profit
2,008
2,170
11
Operating profit margin
29.0%
30.2%
130 bps
200 bps
Q2'22
Q2'23
AER
CER
Total results
£m
£m
%
%
Total operating profit
1,081
2,141
98
>100
Total operating profit margin
15.6%
29.8%
1,420 bps
1,500 bps
GSK
Key commentary
Sales grew +11% excluding COVID-19 solutions
Benefit from lower sales of low-margin Xevudy
Investment behind product launches
Progressing early and late stage programmes
Benefit from Gardasil, Kesimpta and Biktarvy
OP grew +12% excluding COVID-19 solutions
21View entire presentation