On April 30, 2025 GSK reported strong start to 2025 with growth in sales, profits and earnings (Press release, GlaxoSmithKline, APR 30, 2025, View Source [SID1234652386]).
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Specialty Medicines growth drives Q1 performance:
Total Q1 sales £7.5 billion +2% AER; +4% CER
Specialty Medicines sales £2.9 billion (+17%); Respiratory, Immunology and Inflammation £0.8 billion (+28%); Oncology £0.4 billion (+53%); HIV sales £1.7 billion (+7%)
Vaccines sales £2.1 billion (-6%); Shingrix £0.9 billion (-7%); Meningitis vaccines £0.4 billion (+20%); and Arexvy £0.1 billion (-57%)
General Medicines sales £2.5 billion (stable); Trelegy £0.7 billion (+15%)
Total operating profit +50% and Total EPS +56% driven by lower CCL charges
Core operating profit +5% and Core EPS +5% reflecting strong Specialty Medicines performance and disciplined
increased investment in R&D portfolio progression, new asset launches and growth assets
Cash generated from operations exceeded £1 billion with free cash flow of £0.7 billion
Q1 2025
£m % AER % CER
Turnover 7,516 2 4
Total operating profit 2,216 49 50
Total operating margin % 29.5% 9.2ppts 9.0ppts
Total EPS 39.7p 55 56
Core operating profit 2,533 4 5
Core operating margin % 33.7% 0.5ppts 0.3ppts
Core EPS 44.9p 4 5
Cash generated from operations 1,301 16
Pipeline progress and investment delivering future growth opportunities:
5 major new FDA product approvals expected in 2025:
Q1 2025 approvals: Penmenvy, meningitis vaccine; Blujepa, first-in-class antibiotic treatment for uUTIs
Positive ACIP recommendations for Penmenvy (and Arexvy (adults 50-59))
Further approvals expected for: Nucala (COPD); Blenrep (multiple myeloma); and depemokimab (severe asthma and nasal polyps)
14 key opportunities expected to launch 2025-2031 each with PYS potential above £2 billion
Data presented at CROI for VH184, VH499 and N6LS support development plans for ULA HIV regimens
Breakthrough designation granted for GSK’227 B7H3 ADC for 2L osteosarcoma
Pivotal/Phase III trials expected to start in 2025 for: Respiratory (depemokimab COPD programme – ENDURA); Oncology (GSK’227 B7H3 ADC ES-SCLC; IDRx-42 2L GIST; Ojjaara (MDS)); and HIV (Q4M treatment)
Investment in targeted business development continues
Acquisition of IDRx completed
New partnership with ABL Bio in neurodegenerative diseases; and novel research collaboration with UK Dementia Research Institute & HDRUK to investigate shingles vaccination with prevention of dementia
Continued commitment to shareholder returns
Dividend declared of 16p for Q1 2025; 64p expected for full year 2025
£273 million of shares bought back as part of the £2 billion share buyback programme commenced in Q1 2025
Confident for delivery of 2025 guidance
Continue to expect 2025 turnover growth 3% to 5%; Core operating profit growth 6% to 8%; Core EPS growth 6% to 8%
Emma Walmsley, Chief Executive Officer, GSK:
"GSK continues to make strong progress, demonstrating the quality, strength and resilience of our portfolio. Specialty Medicines, our largest business, delivered strong sales contributions in the quarter and R&D progress continued, with two of the five FDA product approvals expected this year now secured, and the acquisition of a promising new oncology asset.
We are very focused on preparing for launches of Blenrep, Nucala and depemokimab, and pivotal trials for potential new medicines in respiratory, oncology, HIV and hepatitis. This momentum, together with the strength of our portfolio and proven ability to drive operating leverage, underpin our confidence in guidance for the year and our longer-term outlooks."