GSK Plc has declared a second dividend for 2022 of 16.25p per share, retrospectively adjusted for the Share Consolidation. The equivalent interim dividend receivable by ADR holders will be calculated based on the exchange rate on 4 October 2022. An annual fee of $0.03 per ADS (or $0.0075 per ADS per quarter) is charged by the Depositary. The ex-dividend date will be 18 August 2022, with a record date of 19 August 2022 and a payment date of 6 October 2022.
Other Financial Highlights:
Strong commercial execution across Specialty Medicines, Vaccines and General Medicines drives double-digit sales growth
- Total sales: £6.9 billion +19% AER, +13% CER, excluding COVID-19 solutions +16% AER, +10% CER
- Specialty Medicines £2.7 billion +44% AER, +35% CER; HIV +14% AER, +7% CER; Oncology +29% AER, +23% CER; Immuno-inflammation and other specialty +32% AER +24% CER; COVID-19 solutions (Xevudy) sales £0.5 billion
- Vaccines £1.7 billion +9% AER, +3% CER; Shingrix £731 million >100% AER, >100% CER
- General Medicines £2.5 billion +5% AER, +2% CER
Continued cost discipline supports delivery of improved adjusted operating margin
- Total continuing operating margin 16%. Total EPS 20.8p -40% AER, -53% CER; Total continuing EPS 17.5p -42% AER, -58% CER; primarily reflecting increased contingent consideration charges driven by exchange rates and adverse comparison due to a credit for the revaluation of deferred tax in Q2 2021
- Adjusted operating margin 29%. Adjusted operating profit growth +22% AER, +7% CER. The impact on growth from lower margin COVID-19 solutions was approximately -16% AER, -14% CER
- Adjusted EPS 34.7p +23% AER, +6% CER. The impact on growth from lower margin COVID-19 solutions was approximately -20% AER, -18% CER
- Q2 2022 continuing cash generated from operations £1.6 billion. Free cash flow £0.3 billion
Strengthening late-stage R&D pipeline with positive data read-outs and strategic business development
- US FDA approval for Priorix (MMR vaccine); Vocabria plus rilpivirine approval in Japan for HIV; Cervarixapproval in China for cancer-causing human papillomavirus
- Positive phase III high-level results for respiratory syncytial virus vaccine candidate in older adults. Full results to be presented at an upcoming scientific meeting with regulatory submissions anticipated in H2 2022
- Proposed acquisition of Affinivax provides access to next-generation phase II 24-valent pneumococcal vaccine candidate and innovative MAPSTM technology
- Promising phase IIb interim data presented for bepirovirsen, a potential new treatment for chronic hepatitis B. Phase III monotherapy trial is anticipated to start in H1 2023
- Completed acquisition of Sierra Oncology on 1 July 2022. Data from momelotinib's MOMENTUM phase III trial presented at 2022 ASCO Annual Meeting; results showed a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anaemia. NDA submitted to the US FDA
- Phase III data readouts expected in H2 2022: pentavalent (MenABCWY) meningitis vaccine candidate, otilimab in rheumatoid arthritis, Jemperli in 1L endometrial cancer, and Blenrep in 3L multiple myeloma
Improving revenues and margin support confidence in full-year outlooks
- Expect 2022 sales growth of between 6% to 8% (previously 5% to 7%) and Adjusted operating profit growth of between 13% to 15% (previously 12% to 14%); both at CER. Adjusted EPS expected to grow by around 1% lower than operating profit. 2022 guidance excludes any contribution from COVID-19 solutions
