|
GSK said it expects annual sales growth at the top end of its outlook range, after ‘another quarter of excellent performance’ saw revenue and profit beat forecasts. The London-based pharmaceutical firm said its portfolio of Specialty Medicines led the way, and the group added that it is ‘positioned to respond to the potential financial impact of tariffs’. Revenue in the second quarter of 2025 rose 1.3% to £7.99 billion from £7.88 billion, helping to push pretax profit up 26% to £1.89 billion from £1.50 billion. Core operating profit rose 12% at constant currency to £2.63 billion from £2.51 billion. Company-compiled consensus looked for revenue of £7.80 billion and operating profit of £2.47 billion. GSK now expects constant currency revenue growth at the top end of the prior 3% to 5% range, and core operating profit growth at the top end of a 6% to 8% range. In 2024, GSK reported revenue of £31.38 billion and operating profit of £4.02 billion. GSK expects Specialty Medicines to grow at a low-teens percentage in 2025 compared to prior guidance of low double digit percentage growth. In Vaccines, GSK’s sales guidance is for a decrease of ‘low single-digit percent to broadly stable’ compared to prior guidance of a ‘decrease of a low single digit percent’. General Medicines guidance was unchanged. GSK expects 2025 sales to be broadly stable. In response, shares in GSK eased 0.2% to 1,394.00 pence each in London on Wednesday morning. The wider FTSE 100 was down 0.4%. In addition, GSK continues to expect to deliver gross margin benefit due to improved product mix from Specialty Medicines growth and continued operational efficiencies. Chief Executive Officer Emma Walmsley said GSK’s strong momentum in 2025 continued with another quarter of ‘excellent performance driven mainly by Specialty Medicines, our largest business, with double-digit sales growth in Respiratory, Immunology & Inflammation, Oncology and HIV.’ Specialty Medicines sales rose 15% to £3.3 billion, Respiratory, Immunology & Inflammation sales rose 10% to £1.0 billion, Oncology by 42% to £0.5 billion and HIV by 12% to £1.9 billion. Vaccines sales increased by 9% to £2.1 billion, sales of shingles drug Shingrix grew 6% to £0.9 billion, Meningitis vaccines sales climbed 22% to £0.4 billion and sales of respiratory syncytial virus treatment Arexvy advanced 13% to £0.1 billion. Walmsley also pointed to continued ‘very good progress’ in research & development, with 3 major FDA approvals achieved so far this year, 16 assets now in late-stage development, and 4 more promising medicines to treat cancer, liver disease and HIV expected to enter Phase III and pivotal development by the end of the year. GSK said it noted that the US Administration has initiated an investigation under Section 232 of the Trade Expansion Act to determine the effects on national security of imports of pharmaceutical products. The firm said guidance is inclusive of tariffs enacted thus far and the European tariffs indicated this week. ‘We are positioned to respond to the potential financial impact of tariffs, with mitigation options identified. Given the uncertain external environment, we will continue to monitor developments,’ the company said. GSK lifted its second interim dividend by 6.7% to 16 pence per share from 15p a year prior, in line with company compiled consensus. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
