Q1 2025 GSK plc Earnings Call Transcript
Key Points
- GSK PLC (GSK) reported a 4% increase in group sales and a 5% rise in operating profit, demonstrating the strength and resilience of its portfolio.
- Specialty medicines, the largest business segment, grew by 17%, driven by strong performances in respiratory, immunology, inflammation, oncology, and HIV.
- The company completed the acquisition of IDRX, adding a promising oncology asset to its pipeline.
- GSK PLC (GSK) generated over GBP1 billion in cash from operations, supporting further investment in growth and shareholder returns.
- The company confirmed its financial guidance for 2025, indicating confidence in continued profitable growth.
- Vaccine sales were down 6%, with the pace of penetration in the US slowing due to high immunization rates.
- The introduction of the Inflation Reduction Act (IRA) is expected to be a GBP400 million to GBP500 million headwind throughout the year.
- General medicine sales were broadly stable, with some areas experiencing declines due to generic competition.
- The macro environment presents elevated levels of uncertainty, including potential sector tariffs.
- The company faces challenges in the US vaccines market, with potential impacts from political rhetoric and regulatory hurdles.
Ladies and gentlemen, a very warm welcome to this GSK Q1 2025 results call. My name is Constantin Fest, new Head of IR at GSK, and I'm delighted to be joined today by Emma Walmsley, Luke Miels, and Julie Brown.
I am pleased to say Deborah Waterhouse, CEO of ViiV, returned this week full time; but David Redfern, Chairman of ViiV, will be covering HIV today. Tony Wood, our CSO, will also be joining us for Q&A.
Today's call will last approximately 1 hour with the presentation taking around 30 minutes and the remaining time for your questions. Please ask only one to two questions so that everyone has a chance to participate.
Before we start, please turn to slide 3. This is the usual Safe Harbor statement. We will comment on our performance using constant exchange rates or CER unless otherwise stated.
I will now hand over to Emma on slide 4.
Thank you, Constantin, and it's
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