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GSK boss Emma Walmsley bows out as HIV and cancer drugs supercharge sales Walmsley will be replaced by current chief commercial officer Luke Miels By THIS IS MONEY Updated: 11:33 GMT, 29 October 2025 GSK lifted profit expectations for the year on Wednesday after the pharmaceutical group's sales were boosted by bumper demand for HIV and cancer drugs in the third quarter. It comes as boss Emma Walmsley prepares to step down at the end of 2025 after nine years. She will be replaced by current chief commercial officer Luke Miels, who is tasked with steering the group towards its target of achieving more than £40billion in sales by 2031. Miels will also need to steer the drugmaker through US trade tariffs, pricing battles and a push for new medicines to offset revenue declines as some top-selling medicines go off patent. GSK reported core earnings per share of 55p on sales of £8.55billion for the three months to 30 September, beating analysts' forecasts of 47.1p on sales of £8.24billion. GSK told investors on Wednesday it now expects annual revenue to increase by 6 to 7 per cent this year, compared to previous guidance of 3 to 5 per cent growth. GSK boss Emma Walmsley prepares to step down after nine years at the end of 2025 RELATED ARTICLES Outgoing GSK boss Emma Walmsley takes swipe at Labour Wealthy pay a heavy price: Reeves's failure to cut the... Share this article The group also expects core earnings per share to soar by 10 to 12 per cent, up from 6 to 8 per cent, even when taking into account any tariffs enacted so far and potential impacts from 15 per cent tariffs on Europe. Walmsley said: 'Sales grew in all areas, with particularly strong performances in specialty medicines driven by double-digit growth in respiratory inflammation and immunology, oncology and HIV. 'We have also continued to make very good progress in R&D with four FDA product approvals so far this year, including for Blenrep in the US last week, and the start of pivotal trials and targeted business development to advance 15 scale pipeline opportunities, all launching before 2031. 'Together, we have delivered a step-change in operating performance, new prospects for growth and a clear pathway for scale patient impact and sustained shareholder value.' Revenue in its US business grew 7 per cent at constant exchange rate to £4.55billion. Vaccine sales down as RFK Jr takes aim at jabs However, GSK reported a 15 per cent drop in quarterly sales of its shingles vaccine, Shingrix, citing a slowdown in the pace of reaching 'harder-to-activate unvaccinated consumers'. US Health Secretary Robert F. Kennedy Jr has taken aim at vaccines, cutting funding for research and ousting the head of the Centers for Disease Control and Prevention, which makes vaccine recommendations. Outgoing GSK boss Emma Walmsley takes swipe at Labour Overall sales of GSK's vaccines for the reported quarter were £2.68billion, above analyst expectations of £2.55billion. GSK maintained its 2025 forecast for a decrease of low-single-digit percent to broadly stable vaccine revenues. GSK shares were up 2.1 per cent to 1,679.5p in early trading, having added around 22 per cent since the start of the year. Sheena Berry, healthcare analyst at Quilter Cheviot: said: 'With this being the last quarterly update from outgoing GSK CEO Emma Walmsley, she is going out on a high 'The group's chief commercial officer, Luke Miels steps into the role from the new year. We will await to see if there is a shift in strategy or more of the same. 'Given the growth and his background, we would expect more of the same, however, the pharmaceutical industry remains in a state of flux just now with drug pricing developments in the UK making future revenues difficult to predict.' DIY INVESTING PLATFORMS Easy investing and ready-made portfolios Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas interactive investor interactive investor Flat-fee investing from £4.99 per month InvestEngine InvestEngine Account and trading fee-free ETF investing Trading 212 Trading 212 Free share dealing and no account fee Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Compare the best investing account for you Share or comment on this article: GSK boss Emma Walmsley bows out as HIV and cancer drugs supercharge sales Add comment
