GlaxoSmithKline PLC (GSK) stock surged 5.34% in intraday trading on Wednesday, following the release of the company's better-than-expected fourth-quarter earnings and an upward revision of its 2031 sales target.
The British pharmaceutical giant reported core earnings per share of 23.2 pence for the fourth quarter of 2024, exceeding analysts' estimates of 19 pence. The company's sales for the quarter reached £8.12 billion, surpassing the consensus forecast of £7.83 billion, driven by strong performance in its specialty medicines portfolio, particularly in oncology and HIV treatments.
Moreover, GSK lifted its 2031 sales forecast to more than £40 billion, up from the previous target of £38 billion. The increased outlook reflects the company's promising pipeline developments and expected new medicines between 2025 and 2031, including oncology treatments.
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