GSK stock: Specialty Medicines Lift Q3 as Vaccines Weaken

GSK's third-quarter performance highlighted a widening split across its portfolio. According to Ad Hoc News, the company reported the results on Wednesday, October 28, 2026, with Specialty Medicines providing the main growth engine while vaccines weakened.

GSK stock traded at 22.62 euros on Lang & Schwarz at 18:07 CET on Friday, November 6, 2026, 0.13 percent below the Xetra close of 22.65 euros on Friday, November 6, 2026.

Specialty Medicines Offset Vaccine Pressure

Total third-quarter sales increased 4 percent at actual exchange rates and 5 percent at constant exchange rates to GBP 8.887 billion. Specialty Medicines sales advanced 15 percent to GBP 3.9 billion, supported by HIV, respiratory, immunology and inflammation, and oncology products.

Vaccines sales fell 2 percent to GBP 2.6 billion. Shingrix and Arexvy declined, while meningitis vaccines provided some support. The contrast leaves product mix and pipeline execution central to the investment case.

Reported Profit Absorbs Restructuring

Reported total operating profit fell 16 percent and total earnings per share declined 21 percent. GSK attributed the pressure mainly to GBP 328 million of restructuring charges under its Accelerate Growth programme and lower other operating income. Core operating profit still increased 5 percent, while core earnings per share rose 1 percent to 54.6 pence.

Management retained its 2026 targets for turnover growth of 3 to 5 percent, core operating profit growth of 7 to 9 percent and core earnings-per-share growth of 7 to 9 percent. Turnover and core operating profit are expected toward the upper half of their ranges, while core earnings per share is expected toward the lower half.

Pipeline Progress Sets Next Test

GSK said it remained on track to start 22 Phase III trials in 2026, with 18 already started by the third-quarter announcement. It also cited US approvals for Hibsago, Jemperli and Jideytro, supporting the longer-term specialty-medicines strategy.

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Further portfolio execution, vaccine demand and progress across the late-stage pipeline are the next key issues for investors. More news and analyses on GSK stock are available on the company topic page.