GSK profit rises in first quarter, backs 2026 growth targets
29 april, 10:33
(Alliance News) - GSK PLC on Wednesday reported modest profit growth in its first quarter, aided by Specialty Medicines performance, and reaffirmed annual guidance.
Shares in the pharmaceutical firm were down 1.6% to 1,995.50p on Wednesday morning in London, but are up 39% over the past year.
GSK posted pretax profit of GBP2.14 billion for the three months ended March 31, up 1.7% from GBP2.12 billion the previous year, with profit attributable to shareholders up 3.8% to GBP1.84 billion from GBP1.77 billion
Turnover was GBP7.63 billion, up 1.5% from GBP7.52 billion on-year, while diluted earnings per share advanced 8.4% to 42.6 pence from 39.3p.
GSK has declared a first-quarter dividend of 17p per share, up from 16p on-year, and reaffirmed its 2026 total dividend target of 70p, which reflects an uplift of 6.1% from 66p in 2025.
It is continuing its current GBP2 billion buyback plan, having repurchased shares worth GBP1.7 billion so far.
Taking stock of the first quarter, GSK noted a favourable product mix, higher royalty income, and continued demand for Specialty Medicines, particularly in oncology, HIV, and immunology treatments. It also cited improved operating performance, which helped offset higher investment over the first quarter.
Further supporting margin expansion was a decrease in cost of sales, which fell to GBP1.88 billion from GBP1.94 billion. Cash from operations totalled GBP1.4 billion, versus GBP1.1 billion in the first quarter of 2025, and free cash flow ticked up to GBP800 million from GBP700 million.
Chief Executive Officer Luke Miels commented: "GSK has made a strong start to 2026, with good performance from our key growth drivers. Alongside operational delivery, we are focused on execution and accelerating research & development.
"This is visible in filings we have achieved for bepirovirsen, our potential functional cure for hepatitis B; updated phase III plans for our oncology ADCs; and completed acquisitions for new pipeline assets: ozureprubart for food allergies, and HS235 for pulmonary hypertension."
Looking to the full year, GSK has backed its existing guidance on a constant currency basis. It targets 3% to 5% growth in turnover, alongside 7% to 9% growth in both core operating profit and EPS.
In 2025, turnover was up 4.1% on-year to GBP32.67 billion. Core operating profit was up 6.9% to GBP9.78 billion and core EPS was up7.8% to 172.0p.
The company eyes royalty income between GBP800 and GBP850 million in 2026, down from GBP879 million in 2025.
"R&D is expected to grow ahead of sales as we continue to invest in the pipeline while driving operational efficiencies," GSK added.
By Holly Munks, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
GSK profit rises in first quarter, backs 2026 growth targets
29 april, 10:33
(Alliance News) - GSK PLC on Wednesday reported modest profit growth in its first quarter, aided by Specialty Medicines performance, and reaffirmed annual guidance.
Shares in the pharmaceutical firm were down 1.6% to 1,995.50p on Wednesday morning in London, but are up 39% over the past year.
GSK posted pretax profit of GBP2.14 billion for the three months ended March 31, up 1.7% from GBP2.12 billion the previous year, with profit attributable to shareholders up 3.8% to GBP1.84 billion from GBP1.77 billion
Turnover was GBP7.63 billion, up 1.5% from GBP7.52 billion on-year, while diluted earnings per share advanced 8.4% to 42.6 pence from 39.3p.
GSK has declared a first-quarter dividend of 17p per share, up from 16p on-year, and reaffirmed its 2026 total dividend target of 70p, which reflects an uplift of 6.1% from 66p in 2025.
It is continuing its current GBP2 billion buyback plan, having repurchased shares worth GBP1.7 billion so far.
Taking stock of the first quarter, GSK noted a favourable product mix, higher royalty income, and continued demand for Specialty Medicines, particularly in oncology, HIV, and immunology treatments. It also cited improved operating performance, which helped offset higher investment over the first quarter.
Further supporting margin expansion was a decrease in cost of sales, which fell to GBP1.88 billion from GBP1.94 billion. Cash from operations totalled GBP1.4 billion, versus GBP1.1 billion in the first quarter of 2025, and free cash flow ticked up to GBP800 million from GBP700 million.
Chief Executive Officer Luke Miels commented: "GSK has made a strong start to 2026, with good performance from our key growth drivers. Alongside operational delivery, we are focused on execution and accelerating research & development.
"This is visible in filings we have achieved for bepirovirsen, our potential functional cure for hepatitis B; updated phase III plans for our oncology ADCs; and completed acquisitions for new pipeline assets: ozureprubart for food allergies, and HS235 for pulmonary hypertension."
Looking to the full year, GSK has backed its existing guidance on a constant currency basis. It targets 3% to 5% growth in turnover, alongside 7% to 9% growth in both core operating profit and EPS.
In 2025, turnover was up 4.1% on-year to GBP32.67 billion. Core operating profit was up 6.9% to GBP9.78 billion and core EPS was up7.8% to 172.0p.
The company eyes royalty income between GBP800 and GBP850 million in 2026, down from GBP879 million in 2025.
"R&D is expected to grow ahead of sales as we continue to invest in the pipeline while driving operational efficiencies," GSK added.
By Holly Munks, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
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