GSK Q3 Sales Rise 4% to £8.9 Billion as Specialty Medicines Drive Earnings Beat

GSK reported third-quarter 2026 sales of £8.9 billion, up 4% from a year earlier, beating analyst expectations and crediting strong demand for specialty medicines. Core operating profit reached £3.076 billion for the quarter, also ahead of forecasts, as CEO Luke Miels' strategy to accelerate growth through the company's infectious disease, HIV, respiratory and oncology portfolio continued to deliver.

Statutory profit before tax fell to £1.935 billion from £2.456 billion in the same period last year, and earnings per share declined to 38.5 pence from 49.9 pence, with the drop driven in large part by a $2.2 billion charge related to Zantac litigation settlements booked in the quarter. Core measures, which strip out such items, held up and surpassed consensus.

GSK reaffirmed its full-year 2026 guidance, continuing to target turnover growth of 3% to 5% and core operating profit growth of 7% to 9% at constant exchange rates, with core earnings per share also expected to rise 7% to 9%. The company expects Specialty Medicines turnover to grow by a low double-digit percentage for the full year, while Vaccines and General Medicines are each projected to be flat to slightly lower. Management also maintained its longer-term 2031 sales target of more than £40 billion.