GSK reaffirms 2026 guidance as specialty medicines drive Q3 growth

Transcript intelligence

What changed

Compared with the prior quarter, GSK reported Q3 sales growth of 5% to GBP 8.9 billion, highlighted multiple approvals and launches, and reaffirmed full-year 2026 guidance. The company also emphasized continued R&D acceleration, including 18 phase-III starts this year, while noting higher interest expense from the Nuvalent acquisition.

Guidance delta

2026 full-year guidance was reaffirmed, with sales expected in the upper half of the range.

Key takeaways

• Q3 sales grew 5% to GBP 8.9 billion, while specialty medicines rose 15%.
• Core operating profit increased 5%; year-to-date cash generation was GBP 7.4 billion.
• GSK reported 18 phase-III starts this year and is targeting 22 by year-end.
• New launches and approvals in oncology, respiratory, hepatitis B, and HIV remain central to the growth story.

Management priorities

• Advance late-stage oncology programs and planned 2027–2028 readouts.
• Launch Hibsago in the US, Japan, and private-market China, followed by an NRDL listing.
• Continue phase-III recruitment for neladalkib and additional Jideytro studies.
• Expand long-acting HIV formulations and the mRNA flu vaccine program.