Oct 28 (Reuters) – GSK beat third-quarter sales and profit expectations on Wednesday, helped by demand for new and specialty medicines, suggesting CEO Luke Miels’ efforts to accelerate growth and prepare the company for looming patent expiries are on track.
The update comes as Miels steers the British drugmaker through its biggest strategic overhaul in years after taking over at the start of 2026, seeking to convince investors that newer medicines and cost-savings measures can drive the next phase of growth.
“GSK has delivered another strong quarter, with our key growth drivers and new launches performing well. We remain focused on operational delivery, execution and accelerating R&D,” Miels said in a statement.
GSK maintained its annual and long-term targets but said R&D spending is expected to grow faster than sales. It also took a £328 million ($436.7 million) charge related to its savings drive in the quarter.
The company continues to expect turnover growth in the upper half of its 3%-5% forecast range and core earnings-per-share growth in the lower half of its 7%-9% range.
GSK’s core profit for the three-month period ended September 30 came in at 54.6 pence per share, compared with analysts’ expectations of 50.4 pence in a company-compiled consensus.
The company’s quarterly revenue rose 5% at constant-currency rates to £8.89 billion, beating expectations of £8.84 billion.
($1 = 0.7511 pounds)
(Reporting by Sri Hari N S, Pushkala Aripaka in Bengaluru and Bhanvi Satija in Madrid; Editing by Sherry Jacob-Phillips)
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