Strong performance in its long-acting HIV preventable has helped GlaxoSmithKline to raise its profit forecasts, with five new long-acting product launches now expected by 2030.
The British drugmaker – a leader in HIV through its subsidiary ViiV Healthcare – said it now expected core earnings per share for the year to grow by ten to 12 per cent, compared with its previous guidance of six to eight per cent growth.
This was in part due to a 48 per cent growth in sales of its long-acting HIV injectable cabotegravir, on a constant exchange rate basis.
“We are delighted with the continued transition we are seeing to long-acting injectables,” said Deborah Waterhouse, chief executive of ViiV and president of global health at GSK, on a call with financial analysts.
“As we look to the future, we expect our industry-leading long-acting pipeline powered by unparalleled patient insight to deliver five launches through 2030.”
The company said HIV sales topped £1.9 billion in the third quarter, representing a fifth of its overall sales, driven by £1.4 billion from its established dolutegravir antiretroviral products, and £357 million from cabotegravir.
Analyst Derren Nathan at Hargreaves Lansdown said in a note to clients: “Its newer HIV treatments are a key part of the story, and they’re seeing some impressive growth.
“A strong clinical pipeline of next-generation HIV therapies should further help bolster GSK’s market position.”
