Glaxo’s Shingles Vaccine Helps Boost Earnings Over Estimates
- Shingrix quickly becomes a blockbuster for U.K. drugmaker
- Pharma giant maintains its earnings outlook for the year
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GlaxoSmithKline Plc’s shingles vaccine helped counter new competition for its aging asthma treatment as the U.K. drugmaker posted first-quarter earnings that beat analysts’ estimates.
Shingrix, the shot that’s become a key growth driver for Glaxo, handily exceeded expectations, according to a statement Wednesday. The company said the vaccine, approved in late 2017, will likely generate significantly more than 1 billion pounds ($1.3 billion) in sales this year.