GSK posts quarterly profit beat in boost for new CEO Miels
GSK’s First-Quarter Earnings and Outlook
By Bhanvi Satija
Quarterly Performance Overview
LONDON, April 29 (Reuters) - British drugmaker GSK reported first-quarter profit above analysts' expectations on Wednesday, helped by strong sales of its respiratory and other general medicines, giving a boost for new CEO Luke Miels who took the helm this year.
Core Earnings and Revenue Figures
GSK reported core earnings per share of 46.5 pence (63 cents) for the three months ended March 31, compared with analyst expectations of 43.3 pence, according to company-provided consensus estimates.
CEO Transition and Strategic Challenges
The results mark the first full quarter under Miels, who took over on January 1 and is tasked with navigating the 2028 patent expiration for GSK's key HIV medicine, dolutegravir, by bolstering its pipeline of newer drugs.
Miels, who previously served as the company's chief commercial officer, is under pressure to prove that GSK's research and development engine can deliver on its long-term revenue targets of over 40 billion pounds by 2031.
Sales Growth and Future Guidance
GSK posted first-quarter revenue of 7.63 billion pounds ($10.30 billion), compared to expectations of 7.58 billion pounds. It backed its 2026 forecast of 3% to 5% sales growth and core operating profit growth of 7% to 9%.
Additional Information
($1 = 0.7405 pounds)
(Reporting by Bhanvi Satija in London; Editing by Andrew Heavens and Louise Heavens)
