Driven by robust demand for its HIV and immunology drugs, GlaxoSmithKline (GSK.US) has raised its full-year profit and sales forecasts. The company reported Q3 revenue of £8.55 billion, up 4.9% year-over-year and £300 million above expectations. Adjusted earnings per share (EPS) rose 11% to £0.55, surpassing analysts’ estimate of £0.47.

GlaxoSmithKline now expects adjusted EPS growth of up to 12% this year, higher than its previous forecast of up to 8%. Revenue growth is also projected to reach up to 7%, exceeding prior estimates.

Incoming CEO Luke Mears, set to take over in January, faces the same challenge as current CEO Emma Walmsley: convincing investors that the company’s drug pipeline can deliver over £40 billion ($53 billion) in sales by 2031. The specialty drug portfolio—including treatments for HIV, cancer, and immunology conditions like lupus—is expected to drive growth.

Drugs such as Dovato (HIV) and Benlysta (lupus) boosted sales, supported by strong demand in Europe, while the vaccine division outperformed expectations. In contrast, rivals like Sanofi and CSL have warned of declining vaccination rates in the U.S.

This week, GlaxoSmithKline secured two early-stage deals to strengthen its pipeline ahead of patent expirations for its top-selling HIV drugs. Unlike competitor AstraZeneca, the company has not yet reached an agreement with the Trump administration, which aims to lower drug prices in exchange for exemptions from industry regulations like tariffs.

GlaxoSmithKline noted that its full-year guidance already accounts for existing tariffs and potential 15% tariffs in Europe.