GSK (GlaxoSmithKline) has reported a net income of £414m, or £0.01 per diluted share, for the fourth quarter of 2024 (Q4 2024), an 18% rise compared to £350m, or £0.08 per diluted share, for the same quarter in 2023.
The British drugmaker’s net income for Q4 2024 increased compared to a net loss of £58 for the preceding quarter, the third quarter of 2024 (Q3 2024).
GSK reported a net revenue of £8.11bn for Q4 2024, a 1% rise compared to £8.05bn for the same quarter in 2023, and a 1.3% increase compared to £8.01bn for Q3 2024.
The pharmaceutical company reported an operating profit of £696m for Q4 2024, a 21% rise compared to £573m for the same quarter in 2023.
GSK reported an income before tax of £563m for Q4 2024, a 48% increase compared to £379m for the respective quarter in the previous year.
GSK CEO Emma Walmsley said: “GSK delivered another year of excellent performance in 2024, with strong sales and core profit growth driven by accelerating momentum of our speciality medicines portfolio.
“This, together with outstanding phase III pipeline progress, means we expect another year of profitable growth in 2025 and have further improved our long-term outlook, with sales of more than £40bn now expected by 2031.
“In particular, we are increasing and prioritising R&D investment to promising new long-acting and speciality medicines in Respiratory, Immunology & Inflammation, Oncology and HIV.
“Our outperformance and stronger balance sheet support these investments and others planned in R&D, as well as the opportunity to enhance shareholder returns through our progressive dividend and the share buyback programme which we have set out today.”
GSK reported a net income of £2.57bn, or £0.62 per diluted share, for the full year 2024, a 47.7% decline compared to £4.92bn, or £1.19 per diluted share, for the full year 2023.
The company reported net revenue of £31.37bn for the full year 2024, a 3.5% rise compared to £30.32bn for the full year 2023.
GSK reported an operating profit of £4.02bn for the full year 2024, a 40% decrease compared to £6.74bn for the full year 2023.
The British drugmaker reported an income before tax of £3.47bn for the full year 2024, a 42% decline compared to £6.06bn for the full year 2023.
Recently, GSK and the University of Oxford have entered a new research collaboration focused on the potential of cancer prevention through vaccination.
Under the new partnership, dubbed GSK-Oxford Cancer Immuno-Prevention Programme, GSK will invest up to £50m over three years to support research precancer biology.
