On July 30, 2025 GSK reported continued strong performance for quarter ending June 30, 2025 (Press release, GlaxoSmithKline, JUL 30, 2025, View Source [SID1234654636]).
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Strong Specialty Medicines performance drives sales and core operating profit growth
Total Q2 2025 sales £8.0 billion +1% AER; +6% CER
Specialty Medicines sales £3.3 billion (+15%); Respiratory, Immunology & Inflammation £1.0 billion (+10%); Oncology £0.5 billion (+42%); HIV sales £1.9 billion (+12%)
Vaccines sales £2.1 billion (+9%); Shingrix £0.9 billion (+6%); Meningitis vaccines £0.4 billion (+22%); and Arexvy £0.1 billion (+13%)
General Medicines sales £2.6 billion (-6%); Trelegy £0.8 billion (+4%)
Total operating profit +33% and Total EPS +35% driven by lower CCL charges partly offset by intangible asset impairments
Core operating profit +12% and Core EPS +15% reflecting Specialty Medicines and Vaccines growth, higher royalty income and disciplined increased investment in R&D portfolio progression in Oncology and Vaccines
Cash generated from operations of £2.4 billion with free cash flow of £1.1 billion
Q2 2025 Year to date
£m % AER % CER £m % AER % CER
Turnover 7,986 1 6 15,502 2 5
Total operating profit 2,023 23 33 4,239 35 41
Total operating margin % 25.3% 4.5ppts 5.4ppts 27.3% 6.8ppts 7.2ppts
Total EPS 35.5p 23 35 75.3p 38 45
Core operating profit 2,631 5 12 5,164 4 8
Core operating margin % 32.9% 1.1ppts 1.8ppts 33.3% 0.8ppts 1.1ppts
Core EPS 46.5p 7 15 91.4p 6 10
Cash generated from operations 2,433 47 3,734 35
Pipeline progress and investment delivering future growth opportunities:
5 major new product approvals expected in 2025:
3 US Approvals now received for Penmenvy meningitis vaccine, Blujepa first-in-class antibiotic treatment for uUTIs and Nucala, anti-IL5 biologic for COPD
Blenrep (for multiple myeloma) approved in EU, Japan, UK, Canada and Switzerland. Constructive discussion ongoing with FDA with new PDUFA date set for 23 October 2025
US regulatory decision on depemokimab (for asthma with type 2 inflammation, nasal polyps) expected in December 2025
Progress on 14 key opportunities expected to launch 2025-2031 each with PYS potential above £2 billion:
Phase III PIVOT-PO study for tebipenem, a potential new antibiotic for cUTIs, stopped early for efficacy, with filing now planned by year end
Phase III development programme for depemokimab COPD started with launch of ENDURA studies
Pivotal/Phase III trial starts planned in H2 25 for: potential cancer treatments GSK’227 B7H3 ADC for ES-SCLC and GSK’981 IDRx-42 for 2L GIST; efimosfermin for treatment of MASH; and cabotegravir ultra long acting + rilpivirine (Q4M) for HIV treatment
Targeted business development continues strengthening RI&I and Oncology pipeline
Acquisition of efimosfermin a potential best in class specialty medicine for steatotic liver disease from Boston Pharmaceuticals completed
Agreements announced with Hengrui Pharma to develop up to 12 medicines in RI&I and Oncology, including licence for
potential best-in-class PDE3/4 inhibitor in clinical development for treatment of COPD
Continued commitment to shareholder returns
Dividend declared of 16p for Q2 2025; 64p expected for full year 2025
£822 million spent in H1 2025 as part of the £2 billion share buyback programme announced at FY 2024
Confident for delivery of 2025 guidance – towards top of range
Increase towards the top end of range for turnover growth of 3% to 5%; Core operating profit growth of 6% to 8%; and
Core EPS growth of 6% to 8%
mma Walmsley, Chief Executive Officer, GSK:
"GSK’s strong momentum in 2025 continues 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. We also continue to make very good progress in R&D, 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. With all this, we now expect to be towards the top end of our financial guidance for 2025 and remain confident in our long-term outlooks."
Assumptions and cautionary statement regarding forward-looking statements
The Group’s management believes that the assumptions outlined above are reasonable, and that the guidance, outlooks, and expectations described in this report are achievable based on those assumptions. However, given the forward-looking nature of these guidance, outlooks, and expectations, they are subject to greater uncertainty, including potential material impacts if the above assumptions are not realised, and other material impacts related to foreign exchange fluctuations, macro-economic activity, the impact of outbreaks, epidemics or pandemics, changes in legislation, regulation, government actions, including the impact of any potential tariffs or other restrictive trade policies on the Group’s products, or intellectual property protection, product development and approvals, actions by our competitors, and other risks inherent to the industries in which we operate.
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