February 05, 2025 07:44 GMT
HEALTHCARE: Glaxo (GSK: A2/A): 4Q & FY24
HEALTHCARE
Positive - Speciality Medicines delivered and Net Debt reduced
- 4Q sales £8.12bn +4% CER, +1% reported
- FY Sales £31.4bn +7% CER; +3% reported
- 2025 guidance sales +3-5%; Core Op Profit +6-8%
- Pipeline 19 in Phase III/reg; 71 in development
- Vaccines were a drag with sales -4% but Spec Med +19%; Gen Med +6%
- OpCF £7.86bn; FCF £2.86bn
- Net Debt declined to £13.1bn from £15bn - due to Haleon sale (albeit a one-off)
- COVID to have no impact next year
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