Pharmaceuticals: GSK signals a drop in Q3 net profit but keeps its targets

The British pharmaceutical giant GSK announced on Wednesday a 23% decline in its net profit in the third quarter, affected in particular by the costs of a savings program launched this year, but maintains its objectives for the financial year. Net profit stood at 1.543 billion pounds, compared to 2.013 billion in the same period last year. The program announced in July by the laboratory to finance investments and improve its operating margin provides for targeted annual savings of 1.9 billion pounds by 2029.

» READ ALSO - Pharma: the GSK laboratory lays off a thousand people in Belgium A restructuring at 328 million The costs linked to this restructuring amounted to 328 million over the quarter and partly explain the decline in net profit, which stood at 1.543 billion pounds, compared to 2.013 billion in the same period last year. The group does not detail the sites affected by this plan, nor the number of positions at stake. But it indicated in mid-October that it was considering eliminating 1.

200 jobs in Belgium, where its subsidiary has more than 8,000 employees. Adjusted net profit, which does not take into account certain elements such as the cost of this restructuring, remained almost stable, at 2.189 billion pounds.

Turnover was up 4%, to 8.887 billion pounds, driven in particular by an increase in sales of specialized medicines against cancer, HIV and treatments for respiratory, immune and inflammatory diseases. These results allow GSK to confirm its outlook for the year 2026, with turnover expected to increase by 3% to 5% and adjusted operating income up by 7% to 9%, at constant exchange rates. “GSK had another solid quarter, with good performance from our main growth drivers and our new launches,” said CEO Luke Miels, quoted in the press release, who underlined that the group is “on track to launch 22 phase III trials this year”.

Machine-translated from French