Operating profit up 33% as strong product mix and R&D drive gains
GSK Plc reported another solid quarter in Q2 2025, underscoring its trajectory toward the top end of its full-year guidance. Bolstered by strong growth in Specialty Medicines and Vaccines, the British pharmaceutical giant posted total revenues of £8.0 billion, up 6% at constant exchange rates (CER).
Specialty Medicines contributed £3.3 billion (+15% CER), fueled by double-digit expansion across Respiratory, Immunology & Inflammation (+10%), Oncology (+42%), and HIV (+12%) portfolios. Vaccines also showed strength, rising 9% to £2.1 billion, with meningitis vaccines surging 22% and new entrant Arexvy growing 13%.
Operating profit soared 33% year-on-year to £2.0 billion, while core earnings per share rose 15%. The uplift was attributed to a favorable product mix, disciplined SG&A allocation, and higher royalty income—augmented by three FDA approvals including Penmenvy and Blujepa.
CEO Emma Walmsley highlighted the firm’s momentum and R&D milestones: “With 16 assets now in late-stage development and multiple Phase III studies underway, our pipeline is positioned to deliver substantial long-term value.”
Cash generated from operations hit £2.4 billion, enabling a Q2 dividend of 16p and further progress on the £2 billion share buyback programme. The company reiterated its guidance upgrades: turnover growth of 3–5%, core operating profit growth of 6–8%, and EPS toward the upper bound of 6–8%.
Despite external pressures such as trade tariffs, GSK maintains resilience through strategic mitigation and pipeline depth.