Business
GSK : Q1 2026 results transcript
GSK : Q1 2026 results
About this update from Gsk Plc
Conference call and webcast for investors and analysts Wednesday, 29 April 2026 at 12:00 BST Introduction | Constantin Fest Slide 1 Conference call and webcast for investors and analysts Slide 2 | Agenda Ladies and gentlemen, a warm welcome to the GSK Q1 2026 results call. I am delighted to be joined today by Luke Miels, Nina Mojas, Deborah Waterhouse, Tony Wood and Julie Brown. And in our Q&A session we will be joined by David Redfern. Today's call will last approximately one hour with the presentation taking around 30 minutes and the remaining time for your questions. Please ask only 1-2 questions so that everyone has a chance to participate. Before we start, please turn to slide 3. Slide 3 | Cautionary statement regarding forward-looking statements This is the usual safe-harbour statement. We will comment on our performance using constant exchange rates or CER unless otherwise stated. I will now hand over to Luke. Q1 2026 performance: strong sales growth and earnings delivery | Luke Miels Slide 4 | Q1 2026 performance: strong sales growth and earnings delivery Thank you and welcome everyone. Q1 performance was strong. Sales were up 5% to more than £7.6bn. Growth was driven by Specialty Medicines which were up 14%, with Vaccines also contributing particularly through strong Shingrix sales Core operating profit grew 10% and EPS was up 9% Cash generation was strong at £1.4bn And our Q1 dividend declared today is 17p pence Looking forward, we expect another year of profitable growth - reflected in the guidance confirmed today. Next slide please. Slide 5 | Key focus areas to drive value In February, we set out our priorities to drive value. We've made a good start but we've got more to do. In a minute, Nina will share progress on how we're delivering growth including the launches of Nucala COPD, Exdensur and Blenrep. We're also assessing our pipeline on an ongoing basis, the aim being to progress high potential assets more aggressively. As we identify differentiated profiles that fit an unmet need or address a gap in the market - we will then and are using scientific courage to make decisions in an accelerated way. This includes internal development as well as BD. Now, we're already making progress here with our assets in COPD, with our ADCs in oncology, and with efimosfermin in MASH. Now, we'll talk more about these and other high value opportunities a...