GSK Plc.: Will its Broader Vaccine Portfolio & International Expansion Strengthen Its Competitive Position Internationally?

GlaxoSmithKline (GSK) has reported its 2024 financial results, highlighting both positive trends and areas of concern for potential investors. A detailed overview of GSK’s performance and strategic initiatives underlines key aspects that can inform an investment thesis. On the positive side, GSK’s transformation post-demerger into a biopharma-focused company is evident through robust growth in specialty medicines, which now form a significant portion of the company’s portfolio. The company reported an 8% increase in sales to over GBP 31 billion, driven by a 19% increase in specialty medicines sales. Notably, its oncology division saw sales nearly double, and the HIV segment also performed strongly with a 13% sales increase, led by growing demand for both oral and long-acting products. The company maintains optimism regarding its future pipeline, expecting multiple new product approvals, which include potential high-impact treatments like Blenrep and depemokimab.