GSK lifts sales and profit outlook as Specialty Medicines unit shines

GSK PLC on Wednesday raised guidance after a strong third quarter, which saw sales in all three divisions beat expectations.

"Sales grew in all areas, with particularly strong performances in Specialty Medicines, driven by double-digit growth in Respiratory Inflammation & Immunology, Oncology and HIV," said Emma Walmsley, GSK's outgoing chief executive.

The London-based pharmaceuticals company now expects 2025 turnover growth of 6% to 7%, raised from "towards the top end" of the 3% to 5% range previously. In 2024, GSK reported sales of GBP31.38 billion.

The raised outlook reflects hopes for mid-teens percentage sales growth in Specialty Medicines compared to low teens expected before. Other divisional forecasts were left unchanged.

GSK expects full-year core operating profit growth of 9% to 11%, up from "towards the top end" of the 6% to 8% range before, and compared to GBP9.1 billion in 2024.

In addition, GSK projects core earnings per share growth of 10% to 12%, up from "towards the top end" of 6% to 8% previously, and compared to 159.3 pence in 2024.

GSK said full-year guidance is "inclusive of tariffs enacted thus far and indicated potential European tariffs impact of 15%".

In response, shares in GSK rose 3.8% to 1,706.00 pence each in London on Wednesday morning and are up 25% year-to-date.

GSK said pretax profit multiplied to GBP2.46 billion in the third quarter from GBP64 million a year before.

Last year's figures were hurt by the USD1.8 billion Zantac settlement.

Core operating profit rose 8.3% to GBP2.99 billion from GBP2.76 billion, with core EPS of 55.0p, 17% ahead of consensus, and up 11% from 49.7p a year ago.

Sales climbed 6.7% to GBP8.55 billion from GBP8.01 billion a year ago, comfortably ahead of company compiled consensus of GBP8.24 billion.

Specialty Medicines sales rose 16% to GBP3.41 billion, beating GBP3.33 billion consensus, led by 39% growth in Oncology to GBP500,000. Respiratory, Immunology & Inflammation sales grew 15% and HIV sales 12%.

In Vaccines, sales climbed 2% to GBP2.68 billion, ahead of GBP2.55 billion consensus, with Shingrix sales up 13%, Meningitis vaccines sales up 5%, and Arexvy sales up 36%.

General Medicines sales grew by 4% to GBP2.46 billion, ahead of GBP2.37 billion a year before, with Trelegy sales jumping 25%.

CEO Walmsley said the strong quarter positions GSK "well for 2026 and achieving our longer-term growth outlooks".

Walmsley is stepping down after eight years at the helm. Chief Commercial Officer Luke Miels will take over the reins at the start of January.

GSK declared a dividend of 16 pence per share for the third quarter, up from 15p a year ago, and said it expects a total 2025 dividend of 64p compared to 60p in 2024.