British pharmaceutical giant GSK Plc (NYSE:GSK) on Wednesday reported upbeat third-quarter results and upgraded its full-year 2025 guidance.
GSK's third-quarter sales reached $11.53 billion (8.5 billion British pounds). That’s an 8% increase at constant currency, exceeding analyst estimates of $11.16 billion.
Core earnings jumped 15% at constant currency to $1.48 per share (55 pence), outperforming the consensus forecast of $1.26.
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Vaccine sales edged 1% higher (+2% at constant currency or cc) to 2.68 billion pounds. According to the company, this reflects strong ex-U.S. demand for Shingrix and Arexvy, partly offset by lower Established and Influenza vaccines sales.
Arexvy sales reached 251 million pounds, up 34% (+36% cc). Meningitis vaccine sales increased 4% (+5% cc) to 541 million, while established vaccine sales of 840 million decreased 9% (+8% cc). Shingrix sales reached 830 million pounds, up 12% (+13% cc).
Specialty Medicines sales grew by 15% (+16% cc) in the quarter to 3.41 billion pounds, reflecting strong performances in HIV, Respiratory, Immunology & Inflammation, and Oncology.
General Medicines sales increased by 3% (+4% cc) to 2.46 billion pounds.
“GSK's momentum continues with another quarter of strong performance, supporting upgraded guidance for 2025, and positioning us well for 2026 and achieving our longer-term growth outlook,” said Emma Walmsley, CEO, GSK.
Tariff Outlook
GSK reaffirms that the U.S. Administration's investigation under Section 232 of the Trade Expansion Act seeks to ascertain the potential effects of pharmaceutical product imports on national security.
GSK said fiscal 2025 guidance includes tariffs enacted thus far and indicated the potential European tariffs of 15%.
We are positioned to respond to the potential financial impact of tariffs, with mitigation options identified.
Guidance
GSK raised its full-year 2025 guidance and expects sales to increase between 6% to 7%, compared to earlier forecast of increase toward the top of the 3%–5% range.
Core operating profit is also expected to grow between 9% to 11% (towards the top end of the 6% to 8% range prior).
Core earnings per share are expected to increase between 10% and 12%, up from the prior range of 6% to 8%.
Specialty Medicine sales are expected to increase at a mid-teens percentage versus prior guidance of a low teens.
Vaccine revenue is expected to decline by a low single digit to broadly stable, and general medicine sales are expected to remain broadly stable.
Price Action: GSK stock is up 2.56% to $44.82 in the premarket at the last check on Wednesday.
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