GSK Raises 2031 Sales Target After Q4 Earnings Beat

GSK reported a 43% decline in profit before tax for fiscal 2024, totaling 3.5 billion pounds, although core operating profit rose by 4% to 9.15 billion pounds. The company’s CEO, Emma Walmsley, highlighted strong sales and core profit growth driven by specialty medicines, particularly in HIV and oncology, which helped offset declines in its vaccine division. GSK raised its 2031 sales forecast to over 40 billion pounds, up from 38 billion pounds, and expects 2025 sales growth of 3-5%. Despite a drop in vaccine sales, the company plans to invest heavily in R&D for new long-acting and specialty medicines. GSK also announced a 2 billion pounds share buyback program and a dividend increase for 2025. The firm’s fourth-quarter earnings exceeded expectations, with core earnings per share reaching 23.2 pence on sales of 8.12 billion pounds.