GSK (LSE:GSK) reaffirmed its full‑year 2026 guidance at constant exchange rates after reporting first‑quarter sales of £7.6 billion, led by Specialty Medicines which grew 14% to £3.2 billion.
Core operating profit rose 10% and core EPS increased 9%, while total operating profit grew 9% and total EPS rose 15%, with cash generated from operations of £1.4 billion and free cash flow of £0.8 billion; segmentally Vaccines sales were £2.1 billion (+4%), HIV £1.8 billion (+10%) and General Medicines fell 6% to £2.3 billion.
Regulatory and pipeline progress included approvals for Exdensur in the EU and China, Nucala COPD in the EU and Blenrep in China, acceptance of bepirovirsen filings in the US, EU, China and Japan, US Breakthrough and EU PRIME designations for efimosfermin, Phase I Mo‑Rez ADC data supporting initiation of five Phase III trials in 2026, and completed acquisitions of ozureprubart and HS235.
GSK declared a Q1 dividend of 17p, expects a 70p full‑year dividend, has executed £1.7 billion of its £2 billion buyback programme to date, and reiterated 2026 guidance of turnover growth of 3-5%, core operating profit growth of 7-9% and core EPS growth of 7-9% at CER while reaffirming a 2031 sales target of more than £40 billion.
"GSK has made a strong start to 2026, with good performance from our key growth drivers," Luke Miels, Chief Executive Officer, said.
The company will host a results webcast and investor call at 12:00 BST on 29 April and will publish presentation materials on gsk.com prior to the webcast.
