GSK (NYSE:GSK) reported fourth-quarter results that cleared Wall Street estimates, as the British drugmaker successfully leveraged its high-growth specialty medicines to offset slowing demand for its flagship RSV vaccine, Arexvy.
The London-based pharmaceutical giant posted adjusted earnings of $0.68 per share (25.5p), outperforming the Zacks consensus of $0.64. Revenue rose to $11.46 billion (£8.62 billion), a 6% increase at actual exchange rates, driven primarily by double-digit gains in its HIV and Oncology segments. Specialty Medicines, now the company’s largest division, grew 15% during the quarter, led by the long-acting HIV treatment Apretude and the cancer drug Jemperli.
The results mark a significant milestone for CEO Emma Walmsley, who oversaw a record year of capital return and R&D acceleration following the spin-off of Haleon. For the full year 2025, GSK generated $43.07 billion in revenue and a profit of $7.54 billion. The company’s core operating margin expanded to 28.1%, benefiting from a strategic shift toward high-value biologics.
"GSK delivered another year of excellent performance in 2025," said Walmsley. "Our specialty medicines are now the engine of our growth, and with 71 assets in clinical development, we are well-positioned to navigate the upcoming patent cycle while delivering sustainable returns to our shareholders."
Investors were particularly focused on the 2026 guidance, which anticipates turnover growth of 3% to 5% and core EPS growth of 7% to 9%. To bolster these targets, GSK announced an increase in its final dividend to 18p per share and confirmed it is on track to complete its £2 billion share buyback program by mid-2026.