Q2 2025 GSK plc Earnings Call Transcript

Jul 30, 2025 / 11:00AM GMT

Release Date Price: $18.76

Transcript

Key Points

Positve

GSK PLC (GSK) reported a 6% increase in group sales for Q2 2025, driven by strong performance in specialty medicines and vaccines.
Core operating profit rose by 12%, and core earnings per share increased by 15% to 46.5p.
The company achieved three FDA approvals in the year, highlighting progress in R&D.
GSK PLC (GSK) generated GBP3.7 billion in cash in the first half, supporting further investments and shareholder returns.
The company is on track to reach the top end of its financial guidance for 2025, reflecting strong performance momentum.

Negative

The FDA extended the review period for Blenrep, impacting its US launch timeline.
There are ongoing challenges in the Chinese market for Shingrix, with slow recovery in sales.
GSK PLC (GSK) faces pricing impacts and supply chain optimization charges, affecting cost of sales.
The company anticipates tariffs in the second half of the year, which could impact gross margins.
Generic competition continues to affect the general medicines portfolio, contributing to a 6% decline in sales.

Constantin Fest

GSK plc - Head - Investor Relations

Ladies and gentlemen, a very warm welcome to the GSK Q2 2025 results call. I'm delighted to be joined today by Emma Walmsley, Tony Wood, Luke Miels, Deborah Waterhouse, and Julie Brown, with David Redfern joining for Q&A.

Today's call will last approximately one hour with the presentation taking around 30 minutes and the remaining time for your questions. (Event Instructions) This is the usual Safe Harbor statement. We will comment on our performance using constant exchange rates or CR unless otherwise stated.

I will now hand over to Emma on slide 4.

Emma Walmsley

GSK plc - Chief Executive Officer, Executive Director

Thank you, and welcome to everybody joining us today. Please turn to the next slide.

Our second quarter results once again demonstrate GSK's strong performance momentum and the quality and strength of our portfolio. Group sales were up 6% for the quarter. Core operating profit was up 12%, and core earnings per share grew 15% to 46.5p.

Sales growth was

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