April 29, 2020 / 11:18 AM / in a month

BRIEF-GSK Q1 Adj EPS 37.7p, 2020 Adj EPS Forecast Maintained

April 29 (Reuters) - GlaxoSmithKline PLC:

* 1ST QUARTER RESULTS

* GSK - 19P DIVIDEND DECLARED FOR QUARTER

* GSK - 19P DIVIDEND DECLARED FOR QUARTER

* GSK - QTRLY TOTAL EPS 31.5P

* GSK - QTRLY SALES £9.1 BILLION +19% AER, +19% CER (PROFORMA +10% CER*)

* GSK - QTRLY ADJUSTED EPS 37.7P

* GSK - BASED ON CURRENT ASSESSMENT OF COVID-19, GUIDANCE FOR 2020 ADJUSTED EPS MAINTAINED

* GSK - QTRLY TOTAL RESPIRATORY SALES £871 MILLION +38% AER, +38% CER

* GSK - QTRLY PHARMACEUTICALS SALES £4.4 BILLION +6% AER, +6% CER

* GSK - DO NOT ANTICIPATE ANY SIGNIFICANT DELAYS TO REGULATORY APPROVALS DUE TO PANDEMIC.

* GSK - QTRLY VACCINES SALES £1.8 BILLION +19% AER, +19% CER; CONSUMER HEALTHCARE SALES £2.9 BILLION +44% AER, +46% CER (PROFORMA +11% CER*)

* GSK - ARE UNABLE TO PREDICT ULTIMATE DISRUPTIVE IMPACT OF COVID-19 PANDEMIC ON GSK’S BUSINESS PERFORMANCE FOR FULL-YEAR 2020

* GSK - Q1 SHINGRIX SALES £647 MILLION

* GSK - AT THIS STAGE, WE ARE UNABLE TO PREDICT ULTIMATE DISRUPTIVE IMPACT OF COVID-19 PANDEMIC ON GSK’S BUSINESS PERFORMANCE FOR FULL-YEAR 2020

* GSK - LIQUIDITY POSITION STRONG, SUFFICIENT CASH FOR CURRENT OPERATIONAL NEEDS

* GSK - ACCESS TO SIGNIFICANT ADDITIONAL UNDRAWN COMMITTED SOURCES OF FINANCE IF REQUIRED

* GSK - PERFORMED STRONGLY WITH GROWTH IN SALES AND EARNINGS REFLECTING GOOD UNDERLYING PERFORMANCE AND INCREASED DEMAND, INCLUDING STOCK-BUILDING

* GSK - CLOSELY MONITORING ALL PARTS OF ITS MANUFACTURING NETWORK AND HAVE BEEN ABLE TO RESPOND QUICKLY TO FLUCTUATIONS IN DEMAND

* GSK - DO NOT ANTICIPATE ANY SIGNIFICANT DELAYS TO REGULATORY APPROVALS DUE TO PANDEMIC.

* GSK - RECRUITMENT FOR CLINICAL TRIALS HAS SLOWED DUE TO DISRUPTION FROM PANDEMIC AND DIVERSION OF RESOURCES TO OTHER CLINICAL PRIORITIES

* GSK - DESPITE MEASURES CO HAS TAKEN, THERE ARE SIGNIFICANT RISKS TO BUSINESS PERFORMANCE FOR REMAINDER OF YEAR

* GSK - WHERE NECESSARY AND BASED ON OUR OWN ASSESSMENTS, WE HAVE PROACTIVELY PAUSED RECRUITMENT FOR CLINICAL TRIALS

* GSK - ALONGSIDE VACCINES FOR COVID-19, ALSO EXPLORING THERAPEUTIC OPTIONS

* GSK - SCREENING GSK MARKETED & PIPELINE ASSETS FOR POTENTIAL ANTI-VIRAL ACTIVITY/POTENTIAL USE IN PREVENTION/TREATMENT OF SYMPTOMS RELATED TO COVID-19

* GSK - SALES GROWTH FOR QUARTER REFLECTS STRONG UNDERLYING PERFORMANCE, ADDITIONAL IMPACT FROM INCREASED DEMAND INCLUDING STOCK BUILDING FOR MANY PRODUCTS Source text for Eikon: Further company coverage:

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