Results fail to lift pressure as GSK outshone by Pfizer
Evening Standard|February 09, 2022
GLAXOSMITHKLINE remained under pressure today after so-so results that drew unfavourable comparisons with US rival Pfizer.
Simon English
Results fail to lift pressure as GSK outshone by Pfizer

GSK notched up £1.4 billion of Covid19 related sales last year, yet profits still fell 22% to £5.4 billion. Overall sales were steady at £34 billion.

Yesterday Pfizer reported $37 billion (£27 billion) of sales from its pandemic vaccine and said its new Covid pill Paxlovid was going well.

That did prompt some complaints that Pfizer is profiteering from the pandemic, an accusation Glaxo has at least avoided.

Glaxo, under pressure from investors to move faster to shake up its business, warned there will be a “substantially reduced profit contribution” from its Covid antibody drug Sotrovimab due to lower margins.

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