GSK's Q3 Earnings Hit By Lower Than Expected Vaccine Sales, Cautions Lower Revenue For 2024
Portfolio Pulse from Vandana Singh
GSK reported Q3 earnings with lower than expected vaccine sales, leading to a 2% year-over-year sales decline. Vaccine sales were impacted by changes in guidelines and prioritization of COVID-19 vaccinations. Despite this, specialty medicine and general medicines showed growth. GSK revised its 2024 guidance, expecting lower vaccine sales but higher growth in specialty and general medicines. GSK's stock fell 4.69% in premarket trading.
October 30, 2024 | 12:58 pm
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GSK's Q3 earnings were impacted by lower vaccine sales, leading to a 2% YoY sales decline. Despite growth in specialty and general medicines, the company revised its 2024 guidance with lower vaccine sales expected. GSK's stock fell 4.69% in premarket trading.
GSK's earnings report showed a decline in vaccine sales, which was a significant factor in the overall sales decline. The market reacted negatively, with the stock price dropping 4.69% in premarket trading. The revised guidance for 2024, with lower expected vaccine sales, further contributed to the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100