By Billy Gray
GSK is scheduled to report results for the fourth quarter of 2025 on Wednesday. Here is what you need to know.
SALES FORECAST: The U.K. drugmaker is expected to post fourth-quarter sales of 8.495 billion pounds ($11.61 billion), according to consensus estimates provided by the company. GSK posted 8.12 billion in sales in the prior-year period.
CORE OPERATING PROFIT FORECAST: The group is expected to report core operating profit of 1.53 billion pounds, per the same consensus. It posted 1.43 billion pounds in core operating profit for the prior-year period.
GSK shares rose 9.16% in the fourth quarter.
WHAT TO WATCH
--NEW LEADERSHIP: Wednesday's results will be the first from Luke Miels, who last month succeeded Emma Walmsley as chief executive officer. During Walmsley's eight years at the helm, GSK slashed its debt, roughly doubled research and development investment and boosted operating margins. Investors will be eager to hear from Miels about the group's strategy around its pipeline, which is needed to clarify the path to GSK's over 40-billion-pound sales target, J.P. Morgan analysts said in a note. There is some speculation that Miels might revisit the 2031 sales and profit margin targets Walmsley set, "which some viewed as ambitious," AJ Bell's Russ Mould said in a note.
--U.S. DRUG PRICING: Miels may also speak on how most-favored-nation U.S. drug pricing chances could affect performance. For 2026, price cuts to drugs covered by Medicaid could be a headwind to earnings, J.P. Morgan said in a note.
--PORTFOLIO CHALLENGES: Investors are looking forward to hearing the company's reaction to moves by White House health officials to change U.S. pediatric vaccine recommendations and how the changes could affect results, UBS analysts said in a note to clients. They also "expect a slowdown in some important 2025 growth drivers such as Ojjaara, Jemperli, and long-acting HIV, as patient penetration plateaus."
Write to Billy Gray at william.gray@wsj.com
(END) Dow Jones Newswires
February 03, 2026 04:57 ET (09:57 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.