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Press release Second quarter 2021 gsk do more feel better live longer Issued : Wednesday , 28 July 2021 , London U.K. GSK delivers strong Q2 sales of £ 8.1 billion , + 6 % AER , + 15 % CER Total EPS 27.9p -39 % AER , -28 % CER ; Adjusted EPS 28.1p + 46 % AER + 71 % CER Highlights • Sales growth driven by strong commercial execution and favourable prior year comparison Pharmaceuticals £ 4.2 billion + 3 % AER , + 12 % CER with growth in New and Specialty products ( + 25 % CER ) including Respiratory + 36 % CER , Immuno - Inflammation + 46 % CER , Oncology + 69 % CER , total HIV + 14 % CER • Vaccines £ 1.6 billion + 39 % AER , + 49 % CER reflecting strong growth in Meningitis + 46 % CER , Established Vaccines + 28 % CER , Shingrix + 1 % CER with improved performance notably in the US and £ 258 million pandemic adjuvant sales . Continue to expect strong growth from Shingrix in H2 Consumer Healthcare £ 2.3 billion -4 % AER , + 3 % CER ( + 7 % CER excluding divestments / brands under review ) Effective cost control supports delivery of adjusted earnings per share growth Total Group operating margin 20.7 % . Total EPS 27.9p -39 % AER , -28 % CER • Adjusted Group operating margin 26.7 % . Adjusted EPS 28.1p + 46 % AER , + 71 % CER ( H1 -10 % AER , + 2 % CER ) . This included a contribution to growth from COVID - 19 solutions of approximately + 20 % AER , + 21 % CER in Q2 ( + 7 % AER , + 7 % CER in H1 ) Q2 net cash flow from operations £ 1.3 billion . Free cash flow £ 316 million Continued R & D delivery and strengthening of pipeline • • FDA rolling review of cabotegravir for prevention of HIV ( PrEP ) completed Positive phase III headline results for daprodustat , potential transformative medicine for anaemia due to chronic kidney disease 3 new strategic collaborations announced , iTeos , Alector * and Halozyme strengthen pipeline in next generation immuno - oncology , immuno - neurology and HIV • Emergency use authorisations for sotrovimab ; Phase III started for Sanofi - GSK adjuvanted COVID - 19 vaccine and EMA rolling review initiated Investor Update in June outlined new outlooks for growth and plans to maximise shareholder value GSK expects to deliver step - change in sales , operating profit growth and performance from 2022 , driven by high quality Vaccines and Specialty Medicines portfolio and late - stage pipeline • Proposed demerger to create new world - leading Consumer Healthcare company confirmed for mid - 2022 Confident in delivering 2021 EPS guidance and reconfirm 2022 outlook • 2021 Adjusted EPS to decline by mid - to - high single - digit percentage at CER • 2022 meaningful improvements expected in revenues and margins 2021 guidance and 2022 outlook exclude any contribution from COVID - 19 solutions Dividend of 19p / share declared for Q2 2021. Continue to expect 80p / share for 2021 Emma Walmsley , Chief Executive Officer , GSK said : " GSK delivered an excellent performance in Q2 . We expect this positive momentum to continue through the second half of the year driving us towards the better end of our earnings guidance range for 2021 , and meaningful performance improvement in 2022. We continue to strengthen our pipeline and are advancing well towards separation . Our clear priority is to focus on execution , unlocking the value of Consumer Healthcare and delivering the step - change in growth and performance we now see for GSK . " The Total results are presented in summary on page 2 and under ' Financial performance ' on pages 12 and 27 and Adjusted results reconciliations are presented on pages 23 , 24 , 38 and 39. Adjusted results are a non - IFRS measure that may be considered in addition to , but not as a substitute for , or superior to , information presented in accordance with IFRS . Adjusted results are defined on page 10 and £ % or AER % growth , CER % growth , free cash flow and other non - IFRS measures are defined on page 67 , COVID - 19 solutions are also defined on page 67. GSK provides guidance on an Adjusted results basis only , for the reasons set out on page 11. All expectations , guidance and targets regarding future performance and dividend payments should be read together with ' Outlook , assumptions and cautionary statements ' on pages 68 and 69. * Subject to HSR clearance . Q2 Results summary Total and Adjusted results Quarterly performance YTD performance Issued : Wednesday , 28 July 2021 , London , U.K. Financial information 1