RESEARCH TRIANGLE PARK – GlaxoSmithKline beat investors’ expectations for earnings in the second quarter, the drug giant announced early Tuesday as it prepares to spin off its consumer health business.
“GSK delivered an excellent performance in Q2. We expect this positive momentum to continue through the second half of the year driving us towards the better end of our earnings guidance range for 2021, and meaningful performance improvement in 2022,” CEO Emma Walmsley said in a statement.
“We continue to strengthen our pipeline and are advancing well towards separation. Our clear priority is to focus on execution, unlocking the value of Consumer Healthcare and delivering the step-change in growth and performance we now see for GSK,” she added.
Earnings came in at some 35 cents per share – 7 cents higher than expected.
Sales topped $11 billion.
However, Walmsley faces demands to improve results.
“Pressure to show sustainable growth has mounted on Walmsley after years of underperformance at the pharmaceuticals business,” Reuters reported. “The company has also locked horns with activist investor Elliott over its future after the spin-off next year.”
GSK maintains a significant presence in RTP and operates a manufacturing plant in Zebulon.
