LONDON, July 30, 2026
GSK has reported strong Q2 2026 financial results, driven by continued growth across its Specialty Medicines and Vaccines businesses while unveiling an ambitious strategy to accelerate its late-stage research and development pipeline. The global biopharmaceutical company announced Q2 sales of £8.4 billion, representing 5% growth at both actual and constant exchange rates, alongside 7% growth in core operating profit and 9% growth in core earnings per share (EPS). Strong performances in Respiratory, Immunology & Inflammation, Oncology, HIV, and Vaccines offset expected declines in General Medicines, reinforcing the company’s long-term growth strategy. Beyond its financial performance, GSK revealed plans to launch more than 20 Phase III clinical trials in 2026, doubling previous expectations while investing in a new flagship R&D Centre at the Cambridge Biomedical Campus in the United Kingdom. The company also announced a three-year transformation program targeting £1.9 billion in annual savings by 2029, enabling increased investment in high-value pipeline assets while improving long-term profitability and supporting its goal of exceeding £40 billion in annual sales by 2031.
Specialty Medicines and Vaccines Drive Financial Growth
GSK’s second-quarter results demonstrated continued momentum across its key growth businesses, with Specialty Medicines generating £3.8 billion in sales, representing 14% year-over-year growth. Within the portfolio, Respiratory, Immunology & Inflammation increased 19% to £1.1 billion, Oncology grew 17% to £600 million, and HIV therapies delivered 10% growth, reaching £2.1 billion. The company’s Vaccines division also recorded robust performance, generating £2.3 billion in revenue, an 8% increase, supported by continued demand for Shingrix, expanding Meningitis vaccine sales, and exceptional growth for Arexvy, which more than doubled compared with the previous year. Although General Medicines sales declined 9%, primarily reflecting lower demand for selected mature products including Trelegy, the strength of GSK’s innovative medicines portfolio enabled continued expansion in core operating profit and core EPS. Cash generated from operations reached £2.9 billion, with free cash flow of £2.0 billion, highlighting the company’s strong financial position and ability to continue investing in innovation while returning value to shareholders.
Late-Stage Pipeline Expansion Strengthens Innovation Strategy
GSK also announced significant progress across its clinical development pipeline, reinforcing its commitment to bringing innovative medicines to patients worldwide. The company expanded its oncology portfolio through the acquisition of Jideytro, which has already received U.S. FDA approval, and neladalkib, currently under FDA Priority Review. Additional clinical achievements included positive Phase III overall survival data for Ris-Rez in lung cancer, marking the first successful Phase III overall survival results for a B7-H3 targeted antibody-drug conjugate (ADC) in any tumor type. The company also reported encouraging AZUR-1 Phase III data supporting regulatory reviews of Jemperli for advanced rectal cancer, while Ojjaara (momelotinib) received Orphan Drug Designation in both the United States and European Union for VEXAS syndrome. Furthermore, GSK announced pivotal data demonstrating unprecedented functional cure rates for bepirovirsen in chronic hepatitis B and expanded approval of Arexvy in Japan for adults aged 18 to 59 years at increased risk of respiratory syncytial virus (RSV) infection. While the company discontinued further development of camlipixant following Phase III trial outcomes, it emphasized that resources will be redirected toward higher-priority pipeline assets.
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Accelerated R&D Investment Supports Long-Term Growth
Building on its strong financial foundation, GSK announced an accelerated R&D strategy centered on 62 clinical-stage assets, identifying seven high-priority programs across 18 indications spanning Oncology, Respiratory Medicine, Hepatology, and Vaccines. The company now expects to initiate more than 20 Phase III clinical trials during 2026, significantly exceeding its previous target of ten studies. To support this expansion, GSK will establish a new flagship research and development center within the Cambridge Biomedical Campus, strengthening collaboration within one of the world’s leading life sciences innovation hubs. Simultaneously, the company is launching a three-year operational efficiency program expected to deliver £1.9 billion in annual cost savings by 2029, with the majority of savings reinvested into late-stage pipeline development and scientific innovation. GSK reaffirmed its 2026 financial guidance, projecting 3% to 5% revenue growth, 7% to 9% growth in core operating profit, and 7% to 9% growth in core EPS, while maintaining confidence in achieving annual sales exceeding £40 billion by 2031. Together, these initiatives position GSK to strengthen its leadership in biopharmaceutical innovation, accelerate the delivery of transformative medicines, and generate sustainable long-term growth for patients and shareholders alike.
Source: GSK press release
