Headlines
GSK cancer, HIV drug sales lift 2025 outlook in boost for shares
Published by Global Banking & Finance Review®
Posted on October 29, 2025
3 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 29, 2025
3 min readLast updated: January 21, 2026
GSK boosts 2025 sales forecast due to strong HIV and cancer drug growth, lifting shares by 7%. U.S. vaccine sales face challenges.
By Bhanvi Satija and Yadarisa Shabong
LONDON (Reuters) -GSK raised its 2025 sales and earnings forecasts on Wednesday as its speciality HIV and cancer drugs posted double digit growth, lifting the British company's shares by nearly 7% to their highest level since May 2024.
GSK's improved outlook comes as CEO Emma Walmsley prepares to hand over to Luke Miels early next year, with the drugmaker navigating U.S. tariffs and seeking new medicines to offset revenue declines as some top-selling drugs go off patent.
"We didn't expect any guidance upgrade at all. These are fantastic numbers," said Lucy Coutts, investment director at wealth manager JM Finn, which holds shares in GSK, adding that Walmsley was leaving GSK in robust shape for Miels.
"He's now got to deliver on the next five year plan."
PRESSURE IN US VACCINE SALES
GSK's U.S. vaccine business was a rare weaker point.
While global vaccine sales hit 2.68 billion pounds in the quarter ending September 30, beating analyst forecasts, growth was mainly outside the U.S. where GSK reported a 15% drop in sales of its shingles vaccine, Shingrix.
Walmsley said that in the near-term, the firm remained "cautious on the U.S. environment" for vaccines.
U.S. Health Secretary Robert F. Kennedy Jr has taken aim at vaccines, cutting funding for research and ousting the head of the Centers for Disease Control and Prevention.
French rival Sanofi reported lower sales of its flu shots in the U.S. last week, and flagged a "negative buzz" around vaccines more widely. GSK said sales of its influenza vaccines also declined in the U.S. due to competition.
Australian biotech CSL on Tuesday delayed plans to spin off its vaccine division citing "heightened volatility" and a greater than expected decline in U.S. vaccination rates.
GSK maintained its 2025 forecast for a low-single-digit decrease to broadly stable revenues for vaccines, which made up just over a third of third quarter revenues and Walmsley said remained an important business for GSK longer term.
CHALLENGES AHEAD FOR INCOMING CEO
Investors are counting on Miels to drive GSK to hit its annual revenue target of more than 40 billion pounds ($54 billion) by 2031. Analysts currently estimate sales to be at about 34 billion pounds.
"The number 40 is doable and I stand behind it," Miels told analysts in a post-earnings call, although he refrained from giving details about his strategy plans for next year.
GSK expects annual revenue to increase in the range of 6% to 7%, and core earnings per share to rise by 10% to 12%. GSK said the forecast includes any tariffs enacted so far and potential impacts from 15% tariffs on Europe.
It previously expected revenues to grow by 3% to 5% and earnings to grow by 6% to 8%.
GSK's core earnings per share were 55 pence on sales of 8.55 billion pounds for the quarter, compared with 47.1 pence on sales of 8.24 billion pounds expected by analysts in a company-compiled poll.
Revenue in its U.S. business grew 7% at constant exchange rate to 4.55 billion pounds.
($1 = 0.7451 pounds)
(Reporting by Unnamalai L and Yadarisa Shabong in Bengaluru, Bhanvi Satija in London; Editing by Rashmi Aich and Alexander Smith)
A patent expiration occurs when the legal protection granted to an invention or product ends, allowing other companies to produce and sell similar products without infringing on the patent.
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