GSK Q3 sales rise as specialty medicines drive growth

(Sharecast News) - GSK reported a 5% increase in third-quarter sales on Wednesday, driven by strong growth in specialty medicines, as the pharmaceutical giant reaffirmed its full-year guidance. The FTSE 100 company said turnover rose 4% at actual exchange rates and 5% at constant currencies to £8.89bn.

Core operating profit increased 5% at constant currencies to £3.08bn, while core earnings per share edged up 1% to 54.6p, reflecting higher sales and a favourable product mix, partly offset by increased research and development spending and higher finance costs.

Reported operating profit, however, fell 16% to £2.13bn, partly reflecting £328m of restructuring charges relating to its Accelerate Growth programme.

Specialty medicines sales rose 15% to £3.9bn, with HIV medicines up 10% to £2.1bn, respiratory, immunology and inflammation treatments ahead 21% to £1.1bn, and oncology revenue jumping 23% to £600m.

Vaccines revenue declined 2% to £2.6bn, as Shingrix sales fell 5% to £800m, while meningitis vaccines grew 12% to £600m.

General medicines sales were flat at £2.4bn, with Trelegy revenue rising 8% to £800m.

GSK reaffirmed its full-year guidance for sales growth of 3% to 5% and core operating profit growth of 7% to 9%, both towards the upper half of their ranges, while core earnings per share growth was expected towards the lower half of its 7% to 9% range.

Chief executive Luke Miels said the company had delivered "another strong quarter", supported by its key growth drivers and new product launches. He also highlighted recent regulatory approvals for chronic hepatitis B treatment Hibsago and Jemperli for rectal cancer, and said the company was on track to initiate 22 phase III trials this year.

GSK declared a third-quarter dividend of 17p per share, up 1p from last year, with the expected dividend for 2026 set at 70p.

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