GlaxoSmithKline plc (GSK, NYSE: GSK) delivered strong 2025 financial results, with total revenues rising 7% in constant currency to GBP 32.67 billion (USD 44.7 billion), driven by double-digit growth in Respiratory/Immunology, Oncology, and HIV. CEO Luke Miels highlighted broad-based performance, with specialty medicines up 17% and key franchises—including Shingrix, Nucala, Benlysta, and Jemperli—exceeding expectations. The UK-based pharma giant confirmed 2026 guidance of 3-5% turnover growth, supported by regulatory milestones for Exdensur, linerixibat, and bepirovirsen.

Financial Performance Summary

Metric2025 ResultYoY Change (CC)Key Driver
Total RevenueGBP 32.67B (USD 44.7B)+7%Specialty medicines (+17%); Shingrix, Nucala, Benlysta strength
Q4 RevenueGBP 8.6B (USD 11.8B)+8%Quarterly acceleration; oncology momentum
2026 Guidance3-5% turnover growthExdensur launch; pipeline execution

Segment Performance

Specialty Medicines: +17% to GBP 13.5B

Franchise2025 SalesYoY GrowthKey Products
HIVGBP 7.7B+11%Dovato, Triumeq, Juluca
Respiratory/Immunology (RI&I)GBP 3.8B+18%Nucala, Benlysta, Exdensur (new)
OncologyGBP 1.98B+43%Jemperli, Ojjaara, Zejula

Other Segments

| Vaccines | Flat (+2%) | Shingrix strength offset by Arexvy US decline |
| General Medicines | -1% | Legacy portfolio erosion |

Key Product Performance

Product2025 SalesYoY GrowthStrategic Context
Shingrix (shingles)GBP 3.56B (USD 4.84B)+8%#1 revenue contributor; 42% Europe growth, 17% US, China recovery
Nucala (asthma)GBP 2.0B (USD 2.7B)+15%IL-5 leader; severe eosinophilic asthma expansion
Benlysta (lupus)GBP 1.8B (USD 2.4B)+22%First approved lupus biologic; SLE and LN growth
Jemperli (endometrial cancer)GBP 861M (USD 1.2B)+89%dMMR/MSI-H tumor-agnostic approval; combination with chemotherapy
Ojjaara (myelofibrosis)GBP 554M (USD 784M)+60%JAK inhibitor + ACVR1 mechanism; anemia benefit differentiation
Arexvy (RSV)GBP 593M (USD 807M)+2%US demand decline; seasonal variability; infant/maternal programs pending

2026 Pipeline Milestones

AssetIndicationStatusStrategic Value
Exdensur (depemokimab)Severe asthma (eosinophilic); CRSwNPUK approved Dec 2025; US/Japan approved; EU/China 2026First twice-yearly biologic; compliance advantage; Nucala successor potential
LinerixibatCholestatic pruritus in PBCUS FDA decision pending (NDA filed June 2025)First IBAT inhibitor for PBC; orphan disease premium
BepirovirsenHepatitis B “functional cure”Full data readouts; NDA filings 2026Potential game-changer; sustained HBsAg/DNA clearance; $10B+ market opportunity

Forward‑Looking Statements
This brief contains forward‑looking statements regarding GSK’s 2026 revenue growth, Exdensur commercial launch trajectory, and bepirovirsen regulatory approval timelines. Actual results may differ due to competitive dynamics in asthma (dupilumab, tezepelumab), RSV vaccine market saturation, and hepatitis B functional cure validation.-Fineline Info & Tech