GSK has raised its full-year 2025 guidance following stronger-than-expected growth in its Specialty Medicines division. The London-listed pharmaceutical company reported third-quarter sales of £8.55 billion, up 8 per cent at constant exchange rates, underpinned by double-digit increases in HIV and oncology products.
Specialty Medicines revenue rose 16 per cent to £3.4 billion, led by long-acting HIV treatments Cabenuva and Apretude, and a sharp rise in oncology sales from the cancer therapy Jemperli. In contrast, vaccine sales grew more modestly amid post-pandemic normalisation and pricing pressure in mature markets.
GSK now expects annual revenue growth of 6 to 7 per cent, compared with its earlier forecast of 3 to 5 per cent, and core operating profit growth of 9 to 11 per cent. The company said the revision reflects “continued momentum in new product launches and strong execution in priority therapeutic areas.”
Chief executive Emma Walmsley said the quarter demonstrated “sustained delivery” from GSK’s focused growth strategy. She will step down in early 2026, with Chief Commercial Officer Luke Miels due to succeed her. Miels is expected to guide the group through a period marked by tariff uncertainty and intensified competition in global biopharma markets.
The update underscores GSK’s shift from mass-market medicines toward higher-value therapies in immunology, oncology, and infectious disease. The company has identified several pipeline assets — each with potential peak sales above £2 billion — expected to launch before 2031. These underpin its ambition to exceed £40 billion in annual revenue by the end of the decade.
Analysts said the revised outlook signals confidence in the group’s transformation. Shares rose more than 3 per cent in early London trading after the announcement, buoyed by investor optimism over the accelerating performance of its specialty portfolio.
GSK added that its forecast already factors in potential impacts from currency fluctuations and existing trade tariffs. Despite external headwinds, the company said it remains on track to deliver its financial targets for the year.
The performance consolidates GSK’s position among Europe’s major drugmakers successfully reshaping their portfolios around innovation-driven treatments. As the company prepares for leadership transition, the focus on specialty medicines suggests a deliberate path toward long-term resilience and sustainable profit growth.
