GSK says its vaccine turnover for this quarter benefited from Shingrix’s post-pandemic recovery in the US and Europe.
For the first quarter 2022, GlaxoSmithKline (GSK) reported its vaccine business made a total of £1.7 billion ($2.1 billion) in sales. £698 million ($866 million) of this was made up of Shingrix sales, the firm’s non-live, recombinant subunit vaccine for the prevention of shingles (herpes zoster).
According to GSK, its vaccine business benefited from Shingrix’s “strong demand recovery.” The firm claims it identified increased demand particularly in the US, Germany, and said launch markets contributed to higher sales reflecting its geographic expansion.
“We had a very strong recovery for Shingrix, which helped drive sales growth of 36%. Shingrix sales more than doubled, delivering a record quarter of nearly £700 million of turnover,” Luke Miels, chief commercial officer at GSK said during the earnings call.
He continued: “In the US, encouragingly, pharmacists are beginning to prioritize Shingrix as the second preferred vaccine, with around 50% now indicating now looking to increase Shingrix vaccinations. In Europe, strong growth benefited from high demand in Germany and contributions from new launches as our geographic expansion is making Shingrix more widely available.”
Prior to the pandemic, Shingrix had showcased continuous quarterly growth since it launched in 2017, with the demand for the vaccine outstripping supply in February 2020 and GSK stating it saw limited opportunity for further growth until its new facility becomes fully operational in 2024.
While the firm acknowledges there is still a possibility to experience short-term pandemic disruption, it still anticipates strong double-digit growth and record annual sales for Shingrix this year based on strong demand in existing markets its global network.