GSK PLC (LSE:GSK, NYSE:GSK) said on Wednesday it expects to deliver results at the top end of its guidance for the year after reporting a robust second quarter, fuelled by strong sales in its Specialty Medicines and Vaccines businesses.
The pharmaceuticals giant posted sales of £8 billion for the three months to June, up 6% at constant exchange rates.
Core operating profit rose 12% to £2.6 billion, with core earnings per share up 15% to 46.5 pence.
Chief executive Emma Walmsley said: “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."
GSK now expects to achieve turnover growth towards the top of its previously announced range of 3% to 5%, and core operating profit and core earnings per share growth at the upper end of 6% to 8%.
Broad-based growth and pipeline progress
Sales in GSK’s Specialty Medicines division reached £3.3 billion, a rise of 15%.
Respiratory, Immunology and Inflammation medicines delivered £1 billion in sales, up 10%, while Oncology medicines climbed to £0.5 billion. The HIV business brought in £1.9 billion, up 12%.
Vaccines sales increased 9% to £2.1 billion, with strong growth in meningitis and shingles vaccines. General Medicines, including drugs for conditions such as asthma and chronic obstructive pulmonary disease, saw a decline of 6% to £2.6 billion.
Research pipeline and future launches
GSK continued to make progress in its research and development pipeline, with five major new product approvals expected in 2025.
These include three United States approvals already received for a meningitis vaccine (Penmenvy), a new antibiotic for urinary tract infections (Blujepa), and Nucala, a biologic treatment for chronic obstructive pulmonary disease.
Blenrep, a drug for multiple myeloma, has been approved in several major markets, while discussions continue with American regulators ahead of a decision expected in October.
A decision on depemokimab, a treatment for asthma, is due by the end of the year.
The group is also planning key trial launches in the second half of 2025 for a range of cancer and infectious disease treatments. GSK sees 14 pipeline assets that could each generate peak annual sales of over £2 billion.
Recent deals include the completed acquisition of efimosfermin, a potential treatment for liver disease, and new partnerships with Hengrui Pharma, aimed at developing up to 12 medicines in respiratory and oncology.
Shareholder returns
GSK declared a dividend of 16p for the second quarter and continues to expect to pay a total dividend of 64p for the full year.
The company spent £822 million on share buybacks in the first half, as part of its £2 billion buyback programme announced earlier this year.
Outlook
With a strong first half and momentum in its growth medicines and pipeline, GSK said it remains on track to deliver at the top end of its 2025 guidance for turnover, profits and earnings.