艾滋病药物发力提振业绩 葛兰素史克(GSK.US)Q4利润超预期

Core Viewpoint - GlaxoSmithKline (GSK) reported better-than-expected fourth-quarter profits, driven by its HIV drug and an asthma medication approved for lung disease treatment [1] Financial Performance - GSK's fourth-quarter revenue reached £8.62 billion, a year-on-year increase of 6.3%, exceeding expectations by £170 million [1] - Adjusted earnings per share were 25.5 pence (approximately 35 cents), surpassing analyst forecasts [1] - The company maintained its profit growth guidance for the year at 7% to 9%, with previous analyst expectations at 6% to 8% [1] - GSK expects revenue growth of 3% to 5% by 2026, with core operating profit and core earnings per share also projected to grow by 7% to 9% [1] - The company anticipates sales will exceed £40 billion by 2031 [1] - Cash flow from operations was £8.9 billion, with free cash flow at £4 billion [1] Product Portfolio and Market Challenges - GSK faces a significant "patent cliff" for its best-selling HIV drug, with expectations of low double-digit growth for its specialty drug portfolio, which includes HIV and cancer medications [2] - The vaccine and generic drug segments may experience revenue declines, influenced by changing sentiments in the U.S. under Health Secretary Robert F. Kennedy [2] - Despite challenges, the vaccine business performed better than expected last quarter, driven by increased demand outside the U.S., particularly for GSK's shingles vaccine in China [2] Strategic Moves - Under former CEO Emma Walmsley, GSK spun off its consumer health division Haleon and made key acquisitions to enhance its drug development pipeline [2] - New CEO Luke Mills must demonstrate to investors that the company can achieve its revenue ambitions for the end of this decade and beyond [2] - Recently, GSK agreed to acquire U.S.-based biotechnology company Rapt Therapeutics for $2.2 billion, focusing on therapies for inflammation and immune system diseases [2]