The Group announces total sales in 2023 of £30.3 billion, up +5% and +14% ex COVID.

Vaccine sales up +25% and +24% ex COVID. Sales of specialty drugs were down -8% and up +15% ex COVID. General Medicine sales were up +5%.

Adjusted operating profit was up +12% to £8.786 billion (with a further positive impact of +4% ex COVID) and adjusted EPS was up +16% to 155.1p (with a further positive impact of +6% ex COVID).

This reflects the strength of non-COVID sales and higher royalty income, partly offset by increased R&D investment and new product launches.

Management expects sales to grow by 5-7% in 2024. Adjusted operating growth should be between 7 and 10%, and adjusted EPS growth between 6 and 9%.

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