- FY 2022-2026 Income statement and product revenue figures are as at 06/09/2022
Income Statement
| £m (unless stated) | 2022 | 2023 | 2024 | 2025 | 2026 | 2022-2026 n= |
| Turnover - Specialty ex pandemic solutions | 8,718 | 9,909 | 10,965 | 11,953 | 12,794 | 14 |
| Turnover - General Medicines | 9,805 | 9,765 | 9,664 | 9,560 | 9,463 | 14 |
| Turnover - Vaccines ex pandemic solutions | 7,668 | 8,659 | 9,607 | 10,541 | 11,287 | 14 |
| Turnover - GSK excluding pandemic solutions | 26,191 | 28,334 | 30,236 | 32,054 | 33,544 | 14 |
| Turnover - pandemic solutions | 1,899 | 155 | 98 | 67 | 52 | 14 |
| Turnover - GSK | 28,090 | 28,489 | 30,334 | 32,120 | 33,596 | 14 |
| Cost of sales | (8,403) | (7,777) | (8,131) | (8,534) | (8,840) | 14 |
| Selling, general and administration | (7,688) | (7,953) | (8,259) | (8,531) | (8,727) | 14 |
| Research and Development | (4,934) | (5,186) | (5,431) | (5,668) | (5,836) | 14 |
| Royalty income | 643 | 711 | 430 | 464 | 489 | 14 |
| Operating profit | 7,708 | 8,285 | 8,942 | 9,852 | 10,682 | 14 |
| Net finance costs | (763) | (691) | (651) | (618) | (590) | 14 |
| Associates | 3 | 4 | 4 | 4 | 4 | 14 |
| Profit before tax | 6,948 | 7,598 | 8,295 | 9,237 | 10,097 | 14 |
| Taxation | (1,117) | (1,257) | (1,384) | (1,547) | (1,693) | 14 |
| Tax Rate | 16.1% | 16.5% | 16.7% | 16.7% | 16.8% | 14 |
| Profit after tax | 5,831 | 6,340 | 6,911 | 7,691 | 8,403 | 14 |
| Minority interests | (611) | (648) | (690) | (728) | (757) | 14 |
| Profit attributable to shareholders | 5,220 | 5,693 | 6,221 | 6,963 | 7,646 | 14 |
| WANS (m) | 4,025 | 4,046 | 4,062 | 4,078 | 4,089 | 14 |
| Earnings per share (p) | 129.7 | 140.7 | 153.2 | 170.8 | 187.0 | 14 |
| Dividend per share (p) | 58.5 | 56.8 | 59.8 | 63.1 | 66.1 | 13 |
| Free Cash Flow | 3,297 | 4,446 | 5,185 | 5,974 | 6,469 | 10 |
| Net Debt | (14,281) | (11,550) | (8,642) | (3,941) | (1,307) | 12 |
| USD / GBP | 1.25 | 1.22 | 1.22 | 1.22 | 1.22 | 14 |
| EUR / GBP | 1.18 | 1.17 | 1.18 | 1.18 | 1.18 | 14 |
| JPY / GBP | 160 | 163 | 163 | 163 | 163 | 11 |
The firms included are: Bank of America, Barclays, Berenberg, Citi, Cowen, Credit Suisse, Deutsche Bank, Exane, Jefferies, JP Morgan, Morgan Stanley, Redburn, UBS, Wolfe Research.
Specialty medicines
| Turnover £m | 2022 | 2023 | 2024 | 2025 | 2026 | 2022-2026 n= |
| Tivicay | 1,329 | 1,253 | 1,157 | 1,070 | 989 | 14 |
| Triumeq | 1,750 | 1,573 | 1,391 | 1,254 | 1,123 | 14 |
| Juluca | 606 | 660 | 692 | 717 | 737 | 14 |
| Dovato | 1,268 | 1,624 | 1,890 | 2,075 | 2,227 | 14 |
| Dolutegravir based regimens | 4,953 | 5,111 | 5,131 | 5,117 | 5,077 | 14 |
| Cabenuva | 303 | 542 | 791 | 1,041 | 1,244 | 14 |
| Apretude | 46 | 152 | 282 | 412 | 514 | 14 |
| Cabotegravir +/- rilpivirine | 349 | 693 | 1,073 | 1,453 | 1,758 | 14 |
| Rukobia | 87 | 125 | 154 | 176 | 197 | 14 |
| Other HIV | 103 | 89 | 82 | 83 | 94 | n/a |
| HIV | 5,492 | 6,019 | 6,440 | 6,829 | 7,126 | 14 |
| Benlysta | 1,142 | 1,301 | 1,405 | 1,424 | 1,400 | 14 |
| Nucala | 1,406 | 1,567 | 1,673 | 1,743 | 1,780 | 14 |
| Zejula | 479 | 583 | 666 | 752 | 831 | 14 |
| Blenrep | 131 | 208 | 287 | 358 | 424 | 14 |
| Jemperli | 26 | 60 | 95 | 129 | 158 | 14 |
| momelotinib | - | 36 | 99 | 175 | 255 | 13 |
| daprodustat | 14 | 105 | 204 | 297 | 367 | 13 |
| Specialty Medicines ex pandemic solutions | 8,718 | 9,909 | 10,965 | 11,953 | 12,794 | 14 |
| Xevudy | 1,884 | 144 | 67 | 46 | 37 | 14 |
| Specialty Medicines | 10,602 | 10,053 | 11,032 | 11,999 | 12,831 | 14 |
The firms included are: Bank of America, Barclays, Berenberg, Citi, Cowen, Credit Suisse, Deutsche Bank, Exane, Jefferies, JP Morgan, Morgan Stanley, Redburn, UBS, Wolfe Research.
Vaccines
| Turnover £m | 2022 | 2023 | 2024 | 2025 | 2026 | 2022-2026 n= |
| Bexsero | 735 | 792 | 819 | 840 | 858 | 14 |
| Menveo | 311 | 330 | 337 | 342 | 345 | 14 |
| Other Meningitis | 30 | 32 | 32 | 32 | 32 | 8 |
| Meningitis | 1,076 | 1,154 | 1,188 | 1,214 | 1,235 | 14 |
| Fluarix/Flulaval | 712 | 745 | 763 | 782 | 801 | 14 |
| Shingrix | 2,799 | 3,416 | 3,961 | 4,354 | 4,663 | 14 |
| Boostrix | 582 | 603 | 612 | 622 | 631 | 14 |
| Cervarix | 112 | 114 | 114 | 115 | 116 | 13 |
| Hepatitis | 564 | 618 | 644 | 666 | 682 | 14 |
| Infanrix, Pediarix | 577 | 584 | 583 | 583 | 584 | 14 |
| Rotarix | 553 | 574 | 585 | 596 | 606 | 14 |
| Synflorix | 332 | 334 | 329 | 321 | 314 | 14 |
| Established Vaccines | 3,080 | 3,192 | 3,224 | 3,262 | 3,292 | 14 |
| RSV OA | - | 136 | 409 | 787 | 1,037 | 14 |
| Vaccines ex pandemic solutions | 7,668 | 8,659 | 9,607 | 10,541 | 11,287 | 14 |
| Pandemic solutions | 15 | 12 | 31 | 21 | 15 | 14 |
| Vaccines | 7,683 | 8,671 | 9,637 | 10,561 | 11,302 | 14 |
The firms included are: Bank of America, Barclays, Berenberg, Citi, Cowen, Credit Suisse, Deutsche Bank, Exane, Jefferies, JP Morgan, Morgan Stanley, Redburn, UBS, Wolfe Research.
General medicines
| Turnover £m | 2022 | 2023 | 2024 | 2025 | 2026 | 2022-2026 n= |
| Anoro | 468 | 488 | 492 | 493 | 494 | 14 |
| Arnuity | 58 | 61 | 62 | 63 | 64 | 14 |
| Avamys/Veramyst | 302 | 274 | 251 | 235 | 222 | 13 |
| Flixotide/Flovent | 484 | 444 | 419 | 398 | 378 | 14 |
| Incruse | 212 | 219 | 224 | 227 | 232 | 14 |
| Relvar/Breo | 1,123 | 1,113 | 1,100 | 1,085 | 1,072 | 14 |
| Seretide/Advair | 1,130 | 1,013 | 913 | 829 | 759 | 14 |
| Trelegy | 1,743 | 2,082 | 2,324 | 2,515 | 2,677 | 14 |
| Ventolin | 715 | 676 | 642 | 612 | 584 | 14 |
| Respiratory | 6,360 | 6,484 | 6,533 | 6,554 | 6,571 | 14 |
| Other General Medicines | 3,445 | 3,281 | 3,132 | 3,006 | 2,892 | 14 |
| General Medicines | 9,805 | 9,765 | 9,664 | 9,560 | 9,463 | 14 |
The firms included are: Bank of America, Barclays, Berenberg, Citi, Cowen, Credit Suisse, Deutsche Bank, Exane, Jefferies, JP Morgan, Morgan Stanley, Redburn, UBS, Wolfe Research.
