April 29 (Reuters) - GlaxoSmithKline’s first-quarter profit beat analysts’ expectations on Wednesday and the British drugmaker maintained its forecast for 2020 as demand for its blockbuster shingles vaccine grew.
Turnover rose 19% to 9.09 billion pounds ($11.26 billion) in the three months ended March 31 from a year earlier, while adjusted earnings were 37.7 pence per share.
Analysts on average expected first-quarter adjusted earnings of 31.5 pence per share and sales of 8.75 billion pounds, according to a company-compiled consensus here of 13 analysts.
Rival AstraZeneca also kept its 2020 forecast and beat quarterly expectations earlier in the day as it got a boost from stockpiling during the coronavirus pandemic.
($1 = 0.8070 pounds)
Reporting by Pushkala Aripaka, Ankur Banerjee in Bengaluru and Ludwig Burger in Frankfurt Editing by Supriya Kurane