GSK beat the numbers, but the real story was the guidance Proactive uses images sourced from Shutterstock A clean fourth-quarter beat pushed GSK ahead of its own medium-term targets. Yet management chose to set a deliberately modest bar for 2026, leaving investors to decide whether this is prudence or opportunity. At first glance, GSK PLC's (LSE:GSK, NYSE:GSK) fourth-quarter results look like exactly what the market ordered. Revenue came in ahead of expectations, earnings beat by a wide margin, and the gr ...

Core Insights - GSK plc reported fourth-quarter 2025 core earnings of 68 cents per American depositary share (ADS), exceeding the Zacks Consensus Estimate of 64 cents, with a 10% year-over-year increase on a reported basis and 14% at a constant exchange rate (CER) [1][9] - Quarterly revenues rose 6% on a reported basis and 8% at CER to $11.46 billion (£8.62 billion), driven by increased sales of HIV, oncology, and respiratory medicines, surpassing the Zacks Consensus Estimate of $11.19 billion [2][9] Segment Performance - GSK operates under three segments: General Medicines, Specialty Medicines, and Vaccines. Specialty Medicines sales increased by 18%, while Vaccine sales rose by 4%. General Medicines sales fell by 1% [3] - Specialty Medicines drove top-line growth, with HIV sales up 11% due to increased demand for Dovato and long-acting medications like Apretude and Cabenuva [4][5] - Oncology sales surged by 42%, primarily due to strong demand for Jemperli and Ojjaara/Omjjara, with Jemperli sales increasing by 79% following label expansion [6][7] - Respiratory drug Nucala sales rose by 19%, driven by strong performance in the U.S. market, while Benlysta sales increased by 26% [8] Vaccine Sales - GSK's vaccine sales growth was driven by increased uptake of meningitis, RSV, and shingles vaccines in ex-U.S. markets, with Shingrix sales rising by 20% [10] - Established vaccine sales declined by 13% due to divested brands and lower sales for Rotarix and Synflorix [11] General Medicines - General Medicines showed stable performance with Trelegy Ellipta sales up 14%, while Anoro Ellipta and Relvar/Breo Ellipta sales fell by 10% and 16%, respectively [12][13] Operating Expenses and Guidance - Core selling, general, and administration costs rose by 2% to £2.68 billion, while core research and development expenses increased by 18% to £2.12 billion [14] - GSK expects sales growth of 3-5% in 2026, with specialty medicines projected to grow by a low double-digit percentage at CER [15] Future Outlook - GSK has a total of 58 assets in clinical development, with two major product approvals expected this year [21][22] - The company aims to generate sales of more than £40 billion by 2031, reflecting a positive long-term outlook [18]

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 ...

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 ...

GSK (NYSE:GSK) Q4 2025 Earnings call February 04, 2026 06:00 AM ET Speaker6Ladies and gentlemen, a warm welcome to the GSK Full Year 2025 Results Call. I'm delighted to be joined today by Luke Miels, Nina Mojas, Deborah Waterhouse, Tony Wood, and Julie Brown, and in our Q&A session, we will be joined by David Redfern. Today's call will last approximately one hour, with the presentation taking around 30 minutes and the remaining time for your questions. Please ask only one to two questions so that everyone h ...

4 February 2026 FY and Q4 2025 Results Conference call and webcast for investors and analysts gsk.com Agenda Strong 2025 performance, 2026 priorities Luke Miels 2 Cautionary statement regarding forward-looking statements This presentation may contain forward-looking statements. Forward-looking statements give the Group's current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words suc ...

1月28日，中国证监会国际合作司发布《关于江苏瑞科生物技术股份有限公司境内未上市股份"全流通"备案通知书》。瑞科生物-B(02179)28名股东拟将所持 合计141,953,489股境内未上市股份转为境外上市股份，并在香港联合交易所上市流通。 12月30日，瑞科生物公告，公司新佐剂重组带状疱疹疫苗REC610的新药上市申请已于近日获国家药品监督管理局药品审评中心正式受理。REC610搭载由公 司自主研发的BFA01新型佐剂，可促进机体产生高水平的VZV糖蛋白E(gE)特异性CD4+T细胞和抗体。目前，全球范围内新佐剂重组带状疱疹疫苗仅有葛兰 素史克Shingrix上市销售。 附件："全流通"股东名称及转换数量 | 序号 | 股东名称 | 申请全流通股 数 (股) | | --- | --- | --- | | 1 | 刘勇 | 193,943 | | 2 | 泰州元工科技合伙企业(有限合伙) | 62,147,715 | | 3 | 泰州瑞百泰医药科技合伙企业(有限合伙) | 8,076,923 | | র্ব | 泰州百倍生物科技合伙企业(有限合伙) | 1.143.750 | | 5 | 泰州古泉生物科技 ...

智通财经APP获悉，1月28日，中国证监会国际合作司发布《关于江苏瑞科生物技术股份有限公司境内未上市股份"全流通"备案通知书》。瑞科生物- B(02179)28名股东拟将所持合计141,953,489股境内未上市股份转为境外上市股份，并在香港联合交易所上市流通。 | 11 | 深圳市富海优选二号高科技创业投资合伙企业(有限合伙) | 230,770 | | --- | --- | --- | | 12 | 深圳南山东方富海中小微创业投资基金合伙企业(有限合伙) | 165,213 | | 13 | 深圳盈科进投资管理合伙企业(有限合伙) | 4,525,393 | | 14 | 浏阳沃阳健康产业投资合伙企业(有限合伙) | 2,081,680 | | ાર | 长沙沃阳二期健康产业投资合伙企业(有限合伙) | 2,031,287 | | 16 | 深圳略威投资管理合伙企业(有限合伙) | 429,553 | | 17 | 深圳市瀚辰创业投资基金合伙企业(有限合伙) | 4,481,250 | | 18 | 宁波梅山保税港区浩金致同创业投资合伙企业(有限合伙) | 2,645,927 | | 19 | 赣州浩金 ...

Core Insights - GSK plc announced positive results from two phase III studies for its investigational chronic hepatitis B therapy, bepirovirsen [1][8] - Both studies met their primary endpoints, showing a statistically significant functional cure rate when bepirovirsen was combined with the current standard of care [2][8] - GSK plans to submit regulatory filings for bepirovirsen globally in the first quarter of 2026, aiming to position it as a finite six-month therapeutic option for chronic hepatitis B [5][8] Study Results - Treatment with bepirovirsen plus standard care demonstrated a meaningful functional cure rate in patients with baseline HBsAg of 3000 IU/ml or lower [2][3] - Functional cure is defined as the sustained loss of HBsAg and undetectable hepatitis B virus DNA for at least 24 weeks post-treatment [3] - GSK reported that bepirovirsen was particularly effective in patients with baseline HBsAg of 1000 IU/ml or lower, although specific numerical data was not disclosed [3][4] Market Potential - GSK estimates that chronic hepatitis B affects over 250 million people globally, indicating a significant market opportunity for bepirovirsen [5] - If approved, bepirovirsen could be the first therapy to achieve a meaningful functional cure for chronic hepatitis B [5] Stock Performance - Year to date, GSK shares have increased by 50%, outperforming the industry growth of 21% [7]