Q1 2026 GSK plc Earnings Call Transcript

Apr 29, 2026 / 11:00 AM GMT

Release Date Price: $27.08 (-0.84%)

Transcript

Key Points

Positve

GSK PLC (GSK) reported a strong Q1 performance with sales up 5% to over GBP7.6 billion, driven by Specialty Medicines and vaccines.
Core operating profit grew by 10%, and EPS increased by 9%, indicating robust financial health.
Shingrix set a record for quarterly sales, delivering more than GBP1 billion, up 20%, with significant growth in Europe and the US.
The HIV portfolio showed double-digit sales growth of 10%, driven by long-acting regimens and Dovato, with notable market share gains in the US.
GSK PLC (GSK) is actively accelerating its pipeline with 7 Phase III trials started in 2025 and 10 more planned for 2026, focusing on high-potential assets in oncology and respiratory diseases.

Negative

General Medicines sales declined by 6% due to the underperformance of the older established portfolio.
The growth of the US market was limited by increasing co-pay requirements due to Medicare redesign, affecting strategy performance.
Exdensur's access in the US is still limited ahead of obtaining the J-code, impacting its market penetration.
There are concerns about the potential impact of competitor data for once-weekly oral HIV treatments on GSK PLC (GSK)'s long-acting injectable market.
The company faces challenges in China with Shingrix sales, as existing stock is being used up before new sales can be realized.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GSK.L - GSK plc
Q1 2026 GSK plc Earnings Call
Apr 29, 2026 / 11:00AM GMT

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Conference Call Participants
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* Luke Miels
GSK plc - Chief Executive Officer, Executive Director
* Nina Mojas
GSK plc - President - Global Product Strategy
* Deborah Waterhouse
GSK plc - Chief Executive Officer - ViiV Healthcare and President - GSK Global Health
* Tony Wood
GSK plc - Chief Scientific Officer
* Julie Brown
GSK plc - Chief Financial Officer, Executive Director
* Zain Ebrahim
JPMorgan Chase & Co - Analyst
* Peter Verdult
Exane Bnp Paribas - Analyst
* James Gordon
Barclays Services Corp - Equity Analyst

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Presentation
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Operator [1]
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(audio in progress) Today's call will last

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