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Strong growth in speciality medicines for cancers and other conditions drove a 37 per cent rise in pre-tax profits at GSK, and underscored how oncology drugs are helping power the pharmaceuticals sector.
Medicines for HIV and respiratory, immunology and inflammatory conditions performed well as the UK-based drugmaker beat second-quarter sales and earnings expectations, and forecast it would reach the top end of its financial guidance for the year.
GSK’s results come a day after London-listed rival AstraZeneca beat second-quarter sales forecasts in part thanks to fast expansion in oncology.
Emma Walmsley, chief executive at GSK, said the company planned to bring four more “promising medicines” to treat cancer, liver disease and HIV to late-stage clinical trials by the end of the year.
“GSK’s strong momentum in 2025 continues with another quarter of excellent performance driven mainly by speciality medicines, our largest business, with double-digit sales growth in respiratory, immunology and inflammation, oncology and HIV,” Walmsley said.
GSK reported sales of just under £8bn, 6 per cent higher compared with the second quarter of last year at constant exchange rates, against consensus analysts’ estimates of £7.8bn. Pre-tax profits were £1.9bn and core earnings per share rose 15 per cent to 46.5p, versus a forecast 42.8p.
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The rise in sales for the full year would now be towards the top end of the previously predicted range of 3 to 5 per cent, the company said. The guidance increase of between 6 and 8 per cent for core earnings per share would also be close to the higher number, it added.
Sales in oncology, a market to which Walmsley returned the company in 2018, climbed 42 per cent in constant exchange rate terms to £484mn. Other speciality medicines rose between 10 and 12 per cent for total sales of just over £2.8bn.
GSK saw an 11 per cent sales increase in Europe, compared with 5 per cent in the US and 4 per cent internationally. AstraZeneca this week reported record growth in the US.
