GSK's Financial Growth in Q1 2023

GSK plc has announced a notable financial performance for the first quarter of 2023, with turnover reaching £6.95 billion. This marks a 2% increase from the same period in 2024, or a 4% rise at a constant exchange rate.

Earnings and Profit Surge

The company reported a significant 55% year-on-year increase in total earnings per share (EPS) to 39.7 pence, with core EPS up by 4% to 44.9 pence. Operating profit saw a remarkable 49% jump to £2.2 billion, and adjusted operating profit grew by 4% to £2.5 billion.

Strategic Advances and Future Plans

CEO Emma Walmsley emphasized GSK's strong progress, attributing it to the quality and resilience of their portfolio. Specialty Medicines, their largest business, 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 oncology asset. Focus areas include launching Blenrep, Nucala, and depemokimab, and conducting pivotal trials for new medicines in respiratory, oncology, HIV, and hepatitis.