GSK Raises Outlook After Q2 Beat, Eyes USD 53.44B Sales by 2031

GSK shares rose nearly 2 per cent in early trading, but reversed course to trade down 0.1 per cent by 0759 GMT. It reiterated that it was well positioned to weather any financial impact from tariffs, and said its outlook had factored in levies implemented so far and expected tariffs on European goods after a U.S.-EU trade deal announced over the weekend.

The U.S., the world's biggest pharmaceuticals market worth $635 billion, accounted for slightly over half of GSK's sales last year, while the EU accounted for about 21 per cent.

For the second quarter, overall turnover rose 6% to nearly 8 billion pounds on constant currency rates, GSK said, while adjusted earnings stood at 46.5 pence per share.

That compared with analysts' expectations of 7.80 billion pounds and 42.8 pence, respectively, according to a company-compiled consensus.

The company's largest business, specialty medicines, posted double-digit sales growth, as did its divisions for HIV treatments, respiratory therapies and cancer medicines. GSK also said that it had set aside about 1.26 billion pounds for legal costs while it ramped up patent challenges against COVID vaccine developers Pfizer, BioNTech and Moderna.