Analyst consensus

The consensus estimates are collected by the company and based on the estimates of brokerage firms covering GSK. Please ensure you have read and acknowledged the disclaimer prior to reviewing the information provided.

2023-27 Income statement and product revenue figures are as at 4 December 2023

Income Statement
£m (unless stated) 2023 2024 2025 2026 2027 2023-27 n=
Turnover - Vaccines ex pandemic solutions 9,516 10,485 11,320 12,044 12,622 11
Turnover - Specialty ex pandemic solutions 9,995 11,128 11,932 12,689 13,224 11
Turnover - General Medicines 10,237 9,846 9,785 9,723 9,522 11
Turnover - GSK excluding pandemic solutions 29,748 31,459 33,038 34,456 35,368 11
Turnover - pandemic solutions 174 19 14 11 9 11
Turnover - GSK 29,922 31,479 33,052 34,467 35,378 11
Cost of sales (7,633) (7,941) (8,262) (8,549) (8,752) 11
Selling, general and administration (8,950) (9,178) (9,406) (9,639) (9,777) 11
Research and Development (5,493) (5,703) (5,942) (6,151) (6,279) 11
Royalty income 894 503 562 602 563 11
Operating profit 8,740 9,158 10,003 10,730 11,133 11
Net finance costs (668) (636) (579) (539) (481) 11
Associates (2) (1) (1) (1) (1) 11
Profit before tax 8,069 8,521 9,423 10,191 10,650 11
Taxation (1,233) (1,447) (1,615) (1,760) (1,842) 11
Tax Rate 15.3% 17.0% 17.1% 17.3% 17.3% 11
Profit after tax  6,836 7,074 7,808 8,431 8,808 11
Minority interests (586) (659) (693) (724) (740) 11
Profit attributable to shareholders 6,250 6,415 7,115 7,706 8,068 11
WANS (m) 4,052 4,070 4,086 4,102 4,106 11
Earnings per share (p) 154.3 157.6 174.1 187.9 196.6 11
Dividend per share (p) 56.4 59.0 61.3 63.6 65.4 11
Free Cash Flow 4,732 5,521 6,131 6,692 7,025 9
Net Debt (13,994) (11,122) (7,825) (4,059) (440) 9
             
USD / GBP 1.24 1.22 1.22 1.22 1.22 11
EUR / GBP 1.15 1.15 1.15 1.15 1.15 11
JPY / GBP 175 182 182 182 182 11

The firms included are: Bank of America, Barclays, Berenberg, Deutsche Bank, Exane, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, Wolfe Research

Vaccines
Turnover £m 2023 2024 2025 2026 2027 2023-2027 n=
Shingrix 3,397 3,929 4,312 4,603 4,708 11
Arexvy 1,041 1,390 1,747 2,036 2,341 11
Bexsero 867 902 915 914 913 11
Menveo 380 394 395 393 393 11
Other Meningitis 21 22 22 23 23 6
Meningitis 1,268 1,318 1,332 1,330 1,329 11
Fluarix/Flulaval 546 520 516 516 518 11
Boostrix 610 627 637 645 654 11
Cervarix 143 142 143 143 143 10
Hepatitis 628 667 691 707 719 11
Infanrix, Pediarix 542 539 535 532 531 11
Rotarix 613 620 630 638 644 11
Synflorix 289 264 246 234 226 11
Established Vaccines 3,264 3,294 3,312 3,320 3,337 11
Other Vaccines pipeline 1 34 101 239 389 11
Vaccines ex pandemic solutions 9,516 10,485 11,320 12,044 12,622 11
Pandemic solutions 143 17 13 10 8 11
Vaccines 9,659 10,503 11,333 12,054 12,631 11

The firms included are: Bank of America, Barclays, Berenberg, Deutsche Bank, Exane, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, Wolfe Research

Specialty medicines
Turnover £m 2023 2024 2025 2026 2027 2023-2027 n=
             
Tivicay 1,349 1,221 1,094 995 903 10
Triumeq 1,512 1,296 1,102 959 842 10
Juluca 675 709 709 716 712 11
Dovato 1,808 2,163 2,377 2,552 2,640 11
Dolutegravir based regimens 5,344 5,389 5,282 5,221 5,097 11
Cabenuva 683 1,009 1,278 1,508 1,667 11
Apretude 149 307 474 613 718 11
Cabotegravir +/- rilpivirine 832 1,316 1,752 2,121 2,386 11
Rukobia 115 140 156 169 178 11
Other HIV (including pipeline) 60 55 60 76 126 n/a
HIV 6,351 6,900 7,250 7,586 7,787 11
             
Benlysta 1,325 1,472 1,485 1,439 1,367 11
Nucala 1,628 1,780 1,880 1,906 1,848 11
             
Zejula 480 532 584 641 680 11
Blenrep 40 37 43 50 56 11
Jemperli 122 209 292 353 391 11
Ojjaara 24 133 265 399 513 11
Other Oncology (including pipeline) 1 6 24 51 72 n/a
Oncology 668 918 1,207 1,495 1,712 11
             
camlipixant - - - 34 103 8
daprodustat 3 40 70 89 104 10
depemokimab - - 20 87 173 8
             
Specialty Medicines ex pandemic solutions 9,995 11,128 11,932 12,689 13,224 11
             
Xevudy 31 2 1 1 1 11
             
Specialty Medicines 10,026 11,130 11,933 12,690 13,225 11

The firms included are: Bank of America, Barclays, Berenberg, Deutsche Bank, Exane, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, Wolfe Research

General medicines
Turnover £m 2023 2024 2025 2026 2027 2023-2027 n=
Anoro 541 547 543 538 522 11
Arnuity 40 39 39 38 37 11
Avamys/Veramyst 318 296 284 275 267 10
Flixotide/Flovent 477 367 347 329 313 11
Incruse 168 164 160 157 153 11
Relvar/Breo 1,062 1,020 1,008 997 947 11
Seretide/Advair 1,138 957 871 803 741 11
Trelegy 2,167 2,478 2,688 2,844 2,895 11
Ventolin 743 682 654 631 607 11
Other respiratory 133 126 118 112 106 11
Respiratory 6,787 6,676 6,713 6,723 6,589 11
Other General Medicines 3,450 3,170 3,072 3,000 2,934 11
             
General Medicines 10,237 9,846 9,785 9,723 9,522 11

The firms included are: Bank of America, Barclays, Berenberg, Deutsche Bank, Exane, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, Wolfe Research