GSK PLC (LSE:GSK, NYSE:GSK) shares rose 4% on Tuesday, adding £2.6 billion to its market value, after the drugmaker delivered better-than-expected first-quarter results and reiterated full-year guidance.
The FTSE 100 group reported core earnings per share of 44.9p, 10% ahead of consensus, thanks to stronger operating leverage and a robust margin of 33.7%. Sales rose 4% at constant exchange rates to £7.51 billion, just ahead of forecasts.
Specialty medicines continued to perform well, with standout contributions from Benlysta and Nucala, while newer vaccines like Arexvy are expected to gain traction later this year following expanded approval in the US.
Shore Capital said the results support its view that GSK is “disproportionately discounted,” and retained its Buy rating.
At under 7 times expected 2026 earnings, the shares remain inexpensive relative to peers. The potential reapproval of multiple myeloma drug Blenrep in July could offer a further catalyst.
In early afternoon trading, the stock was up 62p at 1,494.2p.