On cash flow and capital allocation, Brown said free cash flow rose to £4.0 billion (more than £5.0 billion excluding Zantac payments). Zantac payments in 2025 were £1.2 billion, bringing total payments to £1.9 billion, with the settlement process described as “materially complete.” She added that shareholder distributions totaled £4.0 billion via dividends and buybacks, including repurchase of 93 million shares at an average price of 1,473 (with the remaining £0.6 billion to be completed in the first half) ...

GSK (NYSE:GSK) Q4 2025 Earnings call February 04, 2026 06:00 AM ET Company ParticipantsDeborah Waterhouse - CEOJames Gordon - Managing DirectorJulie Brown - CFOLuke Miels - Chief Commercial OfficerNina Mojas - Head of Global Product StrategySachin Jain - VPTony Wood - Chief Scientific OfficerConference Call ParticipantsMichael Leuchten - Equity Research AnalystSimon Baker - Equity Research AnalystSteve Scala - Senior Research AnalystOperatorLadies and gentlemen, a warm welcome to the GSK Full Year 2025 Resu ...