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Total Q3 sales £8.9 billion +4% AER; +5% CER
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Specialty Medicines sales £3.9 billion (+15%); HIV sales £2.1 billion (+10%), Respiratory, Immunology & Inflammation £1.1 billion (+21%); Oncology £0.6 billion (+23%)
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Vaccines sales £2.6 billion (-2%); Shingrix £0.8 billion (-5%); Meningitis vaccines £0.6 billion (+12%); and Arexvy £0.2 billion (-24%)
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General Medicines sales £2.4 billion (stable); Trelegy £0.8 billion (+8%)
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Total operating profit -16% and Total EPS -21% driven by Major restructuring charges of £328 million related to the Accelerate Growth programme and lower other net operating income, partly offset by Core operating profit growth
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Core operating profit +5% and Core EPS +1% reflecting higher sales, favourable product and regional mix and higher royalty income, partly offset by increased investment in R&D and new asset launches and higher finance costs
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Cash generated from operations of £3.1 billion with free cash flow of £2.1 billion
Continued pipeline progress:
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Hibsago approved in US and Japan, with data showing unprecedented functional cure rates and potential to redefine treatment of chronic hepatitis B
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Jemperli approved in US as first immunotherapy for adults with dMMR/MSI-H locally advanced rectal cancer
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Positive registrational data for Jideytro in first-line ROS1-positive non-small cell lung cancer (approved in US in second line in July)
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Promising first global data for Ris-Rez in lung cancer; and positive phase I data for Mo-Rez in ovarian cancer
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Shingrix pre-filled syringe approved in Japan, simplifying administration
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mRNA seasonal influenza (flu) vaccine phase III trial initiated, following positive phase II data
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On track to start 22 phase III trials in 2026 with 18 starts to date
Growth outlooks:
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2026 guidance reaffirmed with expected growth in: turnover 3% to 5%; Core OP 7% to 9%; Core EPS 7% to 9%
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On track for 2031 sales outlook of more than £40 billion
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Operating margin stable to improving through dolutegravir loss of exclusivity period of 2028-2030
Luke Miels, Chief Executive Officer, GSK:“GSK has delivered another strong quarter, with our key growth drivers and new launches performing well. We remain focused on operational delivery, execution and accelerating R&D. Over recent months we have received 3 new specialty medicine approvals in the US: Hibsago, which has the potential to transform the treatment of chronic hepatitis B; Jideytro in non-small cell lung cancer; and Jemperli in rectal cancer. More broadly, in the late-stage portfolio, we are on track to start 22 phase III trials this year.”