Earnings
Home›Earnings›Results›GSK posts Q2 growth while planning pipeline expansion…
GSK posts Q2 growth while planning pipeline expansion and cost cuts
GSK expects 20+ Phase III trial starts in 2026 and targets £1.9 billion of annual cost savings by 2029 under its Accelerate Growth restructuring plan.
GSK plc reported second-quarter results showing core growth and commercial momentum, with total turnover reaching £8.4 billion, up 5% year over year at constant exchange rates, and Core operating profit rising 7% CER to £2.80 billion. Core EPS increased 9% CER to 50.5p, supported by double-digit Specialty Medicines gains and vaccine momentum, according to Yahoo Finance.
The company said total operating profit fell 75% CER to £481 million after a £1.3 billion non-cash impairment charge. The impairment related to its decision to discontinue camlipixant following Phase III CALM-1/2 trial results.
Alongside the earnings, GSK outlined plans to accelerate its R&D roadmap, including expectations for 20+ Phase III trial starts in 2026, up from its prior projection of 10. The focus will be on seven key asset accelerations across 18 indications spanning oncology, respiratory, hepatology, and vaccines.
To fund the pipeline expansion and support late-stage development, GSK launched its three-year Accelerate Growth restructuring program. The initiative targets £1.9 billion in annual cost savings by 2029, from a planned £2.4 billion total cost base, with savings earmarked for pipeline reinvestment and to support operating margins through the dolutegravir loss of exclusivity period from 2028 to 2030.