Like many of its peers, GlaxoSmithKline was a major beneficiary of the OTC drug stockpiling seen in the early days of the COVID-19 pandemic as consumers cleared shelves of trusted brands in the face of uncertainty. That pantry loading which helped drive up GSK’s Consumer Healthcare sales 11% in the opening three months of 2020 means the firm now faces a difficult comparison when it posts Q1 results on 28 April. (Also see "GSK Navigates COVID-19 Opportunities And Obstacles In Q1" - HBW Insight, 30 April, 2020.)
GSK’s CFO Iain MacKay warned back in February that Q1 sales volatility in comparison to the prior year period for...







