Strong Q1 Performance: GSK reported a 4% increase in group sales to £7.5 billion, with core operating profit up 5% and core earnings per share at 44.9 pence. The growth was primarily driven by specialty medicines, which saw a remarkable 17% increase, contributing to overall momentum despite a 6% decline in vaccine sales.
Upcoming Product Approvals and Launches: Key product approvals are anticipated in 2025, including Nucala for COPD on May 7 and Blenrep on July 23. Nucala is expected to penetrate the COPD market effectively due to its broader patient applicability and recent clinical data emphasizing hospitalization reduction, while Blenrep aims to capture the second-line treatment market in multiple myeloma despite concerns regarding ocular toxicity management.
Financial Guidance and Growth Projection: GSK is reaffirming its 2025 financial guidance, projecting sales growth of 3% to 5% and operating profit growth of 6% to 8%. The company expects low double-digit percent growth in specialty medicines and anticipates higher royalty income, now estimated between £750 million to £800 million, bolstering investor confidence.