GSK's Financial Growth in Q1 2023

GSK plc has announced a notable increase in its first-quarter turnover for 2023, reaching £6.95 billion. This marks a 2% rise compared to the same period in 2024, with a 4% increase at a constant exchange rate.

Earnings and Profit Surge

The company's total earnings per share (EPS) witnessed a significant 55% year-on-year increase to 39.7 pence, while core EPS grew by 4% to 44.9 pence. Operating profit also saw a remarkable 49% jump to £2.2 billion from the first quarter of 2024, with adjusted operating profit climbing 4% to £2.5 billion.

Strategic Progress and Future Plans

CEO Emma Walmsley highlighted GSK's strong progress, emphasizing the quality and resilience of its portfolio. Specialty Medicines, the largest business segment, contributed significantly to sales. The company has also made strides in R&D, securing two out of five expected FDA product approvals this year and acquiring a promising new oncology asset. GSK is now focusing on preparing for the launches of Blenrep, Nucala, and depemokimab, alongside pivotal trials for potential new medicines in respiratory, oncology, HIV, and hepatitis.