GSK has upgraded its sales and profits forecasts following a surge from HIV and oncology medications as chief executive Dame Emma Walmsley prepares to depart the pharmaceutical giant.
Company shares climbed on Wednesday as a consequence, reaching their highest point in more than a year.
The London -headquartered drugs manufacturer said recent performance has positioned it to achieve revenue growth of between 6% and 7% for 2025. Previously, it had guided towards the upper end of a 3% to 5% range.
READ MORE: {}
GSK also informed investors that core operating profits will span 9% to 11%, having earlier indicated this would likely sit at the top of a 6% to 8% bracket.
These revisions emerged as it disclosed that revenue increased by 7% to £8.55 billion, compared with the preceding year.
The advancement was propelled by 16% expansion across its speciality medicines division, where oncology drug revenues surged by 39%.
The company also emphasised that respiratory, immunology and inflammation sales expanded by 15% to £1 billion, whilst HIV treatment witnessed 12% growth.
Dame Emma, who will step down in December, said: "GSK's momentum continues with another quarter of strong performance, supporting upgraded guidance for 2025, and positioning us well for 2026 and achieving our longer-term growth outlooks."
Most Read
Russ Mould, investment director at AJ Bell, said: "A strong third quarter, where revenues and profits easily beat analysts' forecasts, and another increase to guidance for the top and bottom lines in 2025 as a whole, mean that Dame Emma Walmsley will be looking to go out on a high note at the medicines and vaccines treatment business as she prepares to hand over to Luke Miels."
The company's shares were up by as much as 6% on Wednesday afternoon.