GSK (NYSE:GSK) FY Conference Transcript

GSK FY Conference Summary Company Overview - Company: GSK (NYSE:GSK) - Event: 2026 J.P. Morgan Healthcare Conference - Date: January 13, 2026 Key Industry Insights R&D Achievements - GSK achieved 13 positive phase 3 readouts in 2024 and 5 out of 5 approvals in 2025, indicating strong pipeline execution [3][4] - The company anticipates 15 scale launches with potential peak sales exceeding $2 billion by 2031, supported by a pipeline of approximately 25 assets [3][4] Notable Drug Approvals - Depemokimab (Xtensia): First ultra-long-acting biologic for respiratory disease, effective in reducing severe exacerbations in eosinophilic asthma by 70% with only two administrations per year [4] - Nucala: Approved for COPD, preventing 35% of exacerbations leading to hospitalization, addressing a significant healthcare burden in the U.S. with 1.8 million ED visits annually [5] - Blenrep: Approved in the U.S. for third-line treatment of myeloma, with a market projected to grow from $20 billion to $40 billion by the end of the decade [48] Pipeline and Future Developments - GSK is focusing on chronic hepatitis B with a potential 15%-20% functional cure in selected populations, a significant advancement after 30 years [7][9] - The company plans to initiate up to 10 new pivotal studies in 2026, continuing to build on the momentum of its late-stage development pipeline [10] R&D Productivity and Technology - GSK's end-to-end success rates from preclinical to approval have more than doubled since 2018 [13] - Cycle times for major market approvals have halved from 2021 to 2024, indicating improved efficiency in R&D processes [14] - The application of AI and machine learning is being utilized to enhance R&D efficiency, particularly in reducing attrition rates at phase two and improving target selection [16][17] Business Development and Collaborations - GSK is actively pursuing business development opportunities, focusing on assets that can drive near-term sales by 2031 [22] - Recent collaborations include partnerships with Boston Pharmaceuticals and Summit to enhance their pipeline [22][23] Market Insights and Patient Impact - The launch of Xtensia is expected to become standard care for severe eosinophilic asthma, with 80% of pulmonologists recognizing its potential [26] - GSK is addressing the unmet needs in refractory chronic cough, with 28 million patients globally, and aims to provide a significant improvement in treatment options [40][41] Oncology Developments - Blenrep is positioned as a convenient treatment option for myeloma patients, with a focus on community use where 70% of patients are treated [49] - The company is exploring further studies to expand Blenrep's use into second-line and first-line treatments, with potential re-filing by 2028 [50] Conclusion GSK is demonstrating strong momentum in its R&D pipeline with significant drug approvals and a focus on innovative treatments across various therapeutic areas. The company is leveraging technology to enhance productivity and is committed to addressing unmet medical needs in chronic diseases and oncology.