GSK PLC announced on Wednesday that its revenue in the third quarter of the fiscal year 2024 observed an annual increase of 2% to reach £8 billion, missing market's expectations.
On the other hand, the pharmaceutical company's operating profit plunged by 86% compared to the same period the year before to land at £186 million. Meanwhile, loss per share landed at 1.4 pence. For the 2024 outlook, GSK expects turnover growth of 7% to 9% and core EPS growth of 10% to 12%.
"Our pipeline continues to strengthen with 11 positive phase III trials reported so far this year and we are currently planning launches for 5 major new product approval opportunities next year: Blenrep, Depemokimab, Nucala for COPD, Gepotidacin, and our new vaccine to prevent meningitis (MenABCWY). We also resolved the vast majority of Zantac litigation in the quarter, to remove uncertainty and so we can focus forward," Chief Executive Officer (CEO) Emma Walmsley commented.
