GSK二季度核心业绩好于预期但维持全年指引，盘中已大涨反映

GSK plc (GSK) delivered a solid second-quarter performance for 2026, highlighting continued momentum across its vaccines, specialty medicines, and general medicine business. The company also reaffirmed its full-year guidance and outlined plans to accelerate research and development productivity.
Quarterly Performance
For Q2 2026, GSK posted sales of £8.4 billion up 5% at constant exchange rates, compared with £8.0 billion in Q2 2025. Specialty medicine grew 14% to £3.8 billion, up from £3.3 billion in Q2 2025, led by respiratory, immunology, and oncology franchise, while HIV sales rose 10% to £2.1 billion, compared with £1.9 billion in Q2 2025.
Vaccines delivered 8% growth to £2.3 billion, up from £2.1 billion in Q2 2025, supported by Shingrix, meningitis and RSV vaccine Arexvy.
General medicines declined 9% to £2.3 billion, compared with £2.6 billion in Q2 2025, reflecting portfolio optimization.
Despite higher impairments and charges, core operating profit rose 7% to £2.8 billion, compared with £2.6 billion in Q2 2025. Core EPS increased 9% to 50.5p, compared with 46.5p in Q2 2025, driven by strong product mix and regional performance. This compares with Q1 2026, when core operating profit grew 6% and core EPS rose 6%, underscoring sequential improvement in profitability.
Pipeline and R&D Acceleration
The company highlighted progress across its pipeline, including:
-Positive phase III data for Ris-Rez in lung cancer, the first B7-H3 ADC to show overall survival benefit.
- Expanded its late-stage oncology portfolio in NSCLC with Jideytro, which has received FDA approval and Neladalkib, which is under regulatory review with a PDUFA date set for November 27, 2026.
-Regulatory reviews supported by pivotal data for Jemperli in advanced rectal cancer.
-Orphan Drug Designations for Momelotinib (Ojjaara) in VEXAS syndrome.
-Functional cure data for Bepirovirsen in chronic hepatitis B.
To build on this momentum, GSK announced it now expects 20+ Phase III trial starts in 2026, up from 10 previously, across oncology, respiratory, hepatology, and vaccines. A new flagship R&D centre will be established at the Cambridge Biomedical Campus, in the UK, alongside a three-year cost-savings programme targeting £1.9 billion annually by 2029.
Outlook and Shareholder Returns
GSK reaffirmed its 2026 guidance: turnover growth of 3-5%, core profit growth of 7-9%, and core EPS growth of 7-9%. The company remains on track for its 2031 sales ambition of more than £40 billion.
A dividend of 17p per share was declared for Q2, with 70p expected for the full year. GSK also completed its £2 billion share buyback programme as announced at FY 2024.
CEO Commentary
Luke Miels, CEO of GSK, said: "We have delivered another quarter of strong core results performance, with our key growth drivers performing well. We remain focused on operational delivery, execution, and accelerating R&D to bring meaningful benefits to patients and drive shareholder returns."
GSK has traded between $36.75 and $61.70 over the past year. The stock closed Monday's trading at $51.98, up 1.23%. In pre-market trading the stock is at $52.56, up 1.14%.
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Business News
July 25, 2026 02:46 ET The latest policy decision from the European Central Bank dominated the scene this week that was relatively slow for economics news flow. In the U.S., main highlights were the weekly initial jobless claims and new home sales data. In Europe, the ECB rate decision and the latest inflation figures from the U.K. drew attention. In Asia, results of a private sector survey from India were in focus.