The following is a summary of the GSK Plc (GSK) Q1 2024 Earnings Call Transcript:

Financial Performance:

• GSK reported Q1 sales of £7.4 billion, a 13% increase, and a core operating profit of £2.4 billion, an increase of 35%.

• Core earnings per share increased by 37% to £43.1, continuing a positive trend.

• The quarter's profits benefited from strong execution, a strong performance of recent launches, and phasing in the quarter.

• Increased revenue was observed from GSK's innovative vaccines and specialty medicines.

• GSK declared a dividend of £15 for the quarter and upgraded its full-year guidance, promising meaningful growth for shareholders.

• Operating profit is expected to grow significantly in H1 due to anticipated low single-digit percentage range increases in SG&A and R&D.

Business Progress:

• GSK showed robust progress within their pipeline across therapy areas, with pivotal data supporting regulatory submissions for new treatments.

• Positive clinical trials were reported for an ultra-long-acting formulation of cabotegravir, and advances were made in respiratory management.

• Strong performances of new launches, Arexvy, Ojjaara, and Jemperli, indicating future growth potential.

• Multipronged approach focused on prevention and disease management, with ongoing efforts being made to upgrade current products and treatments.

• Strong growth of 14% in Q1 driven by key vaccine launches and this growth trajectory is expected to continue throughout the decade.

• Anticipated IRA, Medicare Part D re-design, to impact the company by around £200 million in 2025 has been factored into the financial guidance which targets 6% to 8% growth CAGR over 2021-2026.

• GSK's Shingrix vaccine is showing exceptional long-term efficacy and plans are being made to extend its reach to emerging markets.

• Positive performances of GSK's drugs Ojjaara and Jemperli, with potential for further growth in the oncology sector. Future developments for Blenrep are expected.

• Progress observed in lifecycle management of medications, with insights leading to quicker treatment indications and advances in managing toxicity.

More details: GlaxoSmithKline IR

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