Annual Report 2022

We are a global biopharma company with a purpose to unite science, technology and talent to get ahead of disease together.

We aim to positively impact the health of 2.5 billion people by the end of 2030. Our bold ambitions for patients are reflected in commitments to growth and a step-change in performance.

We are a company where outstanding people can thrive.

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Ahead Together

2022 was a landmark year for GSK. Following the demerger of our consumer healthcare business to form Haleon in July, we are now a fully focused biopharma company.

GSK Eosinophils RGB illustration

Prioritising innovation in vaccines & specialty medicines

Prioritising innovation in vaccines & specialty medicines

We prioritise innovation in vaccines and specialty medicines, maximising the increasing opportunities to prevent and treat disease. At the heart of this is our R&D focus on the science of the immune system, human genetics and advanced technologies, and our world-leading capabilities in vaccines and medicines development. We focus on four therapeutic areas: infectious diseases, HIV, immunology/respiratory and oncology.

Patient image

We're confident in our future

We're confident in our future

Our bold ambitions for patients are reflected in our commitments to a step-change in growth and performance over the period to 2026. This means more GSK vaccines and medicines, including innovative new products, will reach more people than ever before.

scientist in the lab

Being a responsible business

Being a responsible business

Being a responsible business means getting ahead of disease together in the right way.

That’s why environmental, social and governance (ESG) impacts are embedded in our strategy and support our sustainable performance and long-term growth. They help us build trust with our stakeholders, reduce risk to our operations and deliver positive social impact.

Colleagues laughing

Culture at GSK is something we all own

Culture at GSK is something we all own

It powers our purpose, drives delivery of our strategy and helps make GSK a place where people can thrive. Our culture of being ambitious for patients, accountable for impact and doing the right thing is the foundation for how, together, we’ll deliver for our patients, shareholders and GSK people.

2022 performance and key performance indicators

Financial performance

We delivered a step-change in commercial execution with growth across the portfolio. Prioritised investment and cost discipline supported strong growth in operating profit and earnings per share (EPS).

Group turnover
£29.3bn
AER 19% CER 13%
Vaccines turnover
£7.9bn
AER 17% CER 11%
Specialty Medicines turnover
£11.3bn
AER 37% CER 29%
General Medicines turnover
£10.1bn
AER 5% CER 1%
Total continuing operating profit
£6.4bn
AER 48% CER 31%
Adjusted operating profit
£8.2bn
AER 26% CER 14%

Research and development

We continued to strengthen the late-stage pipeline with regulatory approvals, positive data read-outs and strategic business development.

£12.7bn

sales of products launched in the last five years including lifecycle innovation

69

vaccines and specialty medicines based on the science of the immune system

5

phase III starts including for depemokimab in eosinophilic disease, and cobolimab for second-line non-small cell lung cancers

>20

new approvals since 2017

18

in phase III/registration

7

new collaborations and acquisitions including with Affinivax, Sierra Oncology and Spero Therapeutics

Responsible business

We continue to be recognised for our environmental and sustainability leadership. Our ESG Performance Rating KPI is on track based on 83% of all performance metrics being met or exceeded. The metrics cover our six new focus areas: access to healthcare, global health and health security, environment, diversity, equity and inclusion, ethical standards, and product governance.

1st

in the Access to Medicine Index for 8th consecutive time

2nd

in the pharmaceuticals industry for the S&P Global Corporate Sustainability Assessment, with a score of 86 (as at 17 February 2023)

13%

reduction in indirect (Scope 3) carbon emissions

Culture

Culture progress KPI – ambitious for patients, accountable for impact and do the right thing – is measured through our employee surveys.

Our employee engagement score was 81% in 2022 compared to 78% in 2021.

Our business model

Our ambition is to positively impact the health of 2.5 billion people by the end of 2030. We aim to do this by developing transformational vaccines and medicines and making them available at responsible prices that are accessible for patients and sustainable for our business.


two scientists in the lab

69,400
GSK people

>80
countries worldwide

24,000
suppliers working directly with GSK

£5.5bn
R&D investment in 2022 up by 9% at AER, 4% at CER

37
manufacturing sites

4
global R&D centres

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Shingles cell

Vaccines
We deliver one and a half million doses of our vaccines every day; and around 40% of the world’s children receive a GSK vaccine each year.

Specialty Medicines
Our portfolio of specialty medicines prevent and treat diseases, from HIV and respiratory diseases, to immuno-inflammation diseases like lupus, to cancer. Many are first or best-in-class.

General Medicines
Our portfolio of more than 150 products encompasses all of GSK’s primary care medicines, supplied in 112 countries worldwide.

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GSK E.Coli

Infectious diseases
We are a world leader in infectious diseases, like shingles and meningitis, which, including HIV, account for two-thirds of the vaccines and medicines in our pipeline.

HIV
Our goal is to minimise the impact of HIV on people’s lives through treatment, prevention and ultimately cure.

Immunology/respiratory
We’re unlocking the science of the immune system to understand how it reacts to diseases like lupus, eosinophilic asthma and other inflammatory diseases.

Oncology
Our emerging portfolio in oncology will potentially bring new cancer therapies to the patients who need them most.

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Two scientists working in a lab

Innovation
We develop new medicines and vaccines where they are needed, with better, faster and smarter R&D. We’re combining the power of genetic and genomic insights into the causes of disease, with the speed and scale of artificial intelligence and machine learning.

Performance
We've made commitments to growth and a significant step-change in delivery. We are confident in our ability to sustain growth through the decade and beyond.

Trust
We deliver our strategy responsibly: always considering the ESG impacts of everything we do from lab to patient, helping to build trust with our stakeholders, reduce risk to our operations and deliver positive social impact.

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GSK HCP Hospital Alvin Ross and Herbert Macatlang

Patients
2.3bn packs of medicines and doses of vaccines delivered

Shareholders
61.25p per share dividend

Society
£1.3bn corporation tax paid; in addition we pay duties, levies, transactional and employment taxes

Our people
All of our people are supported to grow, be well and do work that really matters.

Reinvestment
The returns we make enable us to reinvest in discovering and developing new vaccines and medicines so we can continue getting ahead of disease.

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