- Pharmaceuticals giant GlaxoSmithKline posted a rise in first-quarter earnings and reaffirmed its annual guidance following strong sales of its shingles vaccine and HIV treatments.

Earnings per share for the three months through March rose 50% to 16.8p, or by 42% on a constant currency basis.

The company, however, said it still expected its annual adjusted EPS to fall by between 5% and 9% reflecting, in part, the recent approval of a generic competitor to asthma drug Advair.

Sales in the first quarter rose 6% to £7.66bn, with pharmaceutical sales up 4%, vaccine sales up 23% and consumer healthcare sales flat.

GlaxoSmithKline declared a quarterly dividend of 19p per share and said it still expected to pay out 80p per share for the full year.

'We have made a strong start to 2019, which is an important year of execution for GSK, with growth in sales, operating margins and earnings per share in Q1, in line with our expectations,' chief executive Emma Walmsley said.

'Strengthening our pipeline remains our number one priority and we reported positive data for several potential new medicines in HIV and oncology during the quarter.'

'I am also pleased to report that integration planning for our new proposed consumer healthcare business is going well and, subject to relevant approvals, we continue to expect to complete this transaction in the second half of the year.'

At 1:19pm: [LON:GSK] GlaxoSmithKline PLC share price was +8.5p at 1581.9p

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