How did GSK Fair Under Emma Walmsley’s Last Quarter as CEO?

With GSK positioning itself in 2025 as a leader in specialty medicines and vaccines, the company has seen growth across the board in Emma Walmsley’s last quarter as CEO.

Discussing the latest results, Emma said in a statement: “GSK’s momentum continues with another quarter of strong performance, supporting upgraded guidance for 2025, and positioning us well for 2026 and achieving our long-term growth outlooks.

“Sales grew in all areas, with particularly strong performances in specialty medicines driven by double digit growth in respiratory inflammation and immunology, oncology and HIV.”

The report outlines that specialty medicines sales increased by 16% to £3.4bn (US$4.48bn), with respiratory, immunology and inflation medicine sales at £1bn (US$1.32bn); oncology sales reaching £0.5bn (US$659m); and HIV sales £1.9bn (US$2.5bn).

These areas contributed to an overall total Q3 sales of £8.5bn (US$11.2bn), an increase of 7% Annual Equivalent Rate.

Reflecting on the success of the quarter, Emma said in a post on LinkedIn: “This is my final quarter reporting as CEO, and so I would like to thank everyone who has contributed to the transformation of GSK in the last nine years.

“Together we have delivered a step-change in operating performance, new prospects for growth and a clear pathway for scale, patient impact and sustained shareholder value.

“So today GSK is a very different company in performance, pipeline and prospects.”

Pharmaceuticals in the pipeline

GSK’s momentum is continuing with significant R&D progress. 

Core Operating Profits increased by 11% and Core EPS by 14%, which the company says reflects specialty medicines and vaccines growth, higher royalty income and increased investment in R&D portfolio progression in oncology and vaccines.

Emma added in the statement that this progress is down to “four FDA product approvals so far this year”, and highlighted “the start of pivotal trials and targeted business development to advance 15 scale pipeline opportunities” planned to all launch before 2031.

In addition to these, the multinational pharmaceutical company reports 62 new medicines and vaccines in the pipeline and 16 medicines and vaccines in phase III development.

The CEO announced on LinkedIn on 24 October that the US FDA approved Blenrep, a therapy to treat an incurable blood cancer.

Signalling the fourth of the five expected approvals for GSK this year, Emma writes: “New treatment options are urgently needed and we will keep going so we can bring important medicines to more patients around the world.

“Another step towards our ambition to positively impact the health of more than 2.5bn people.”

Making way for a new CEO

GSK announced on 29 September that Emma will be stepping down as Chief Exec on 1 January 2026, following a successful tenure of driving the company’s growth and product development.

Discussing the announcement in a company statement at the time, she said: “2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe this is the right moment for new leadership.”

Receiving the baton, current GSK Chief Commercial Officer Luke Miels said: “I am deeply honoured to be appointed as the next CEO of GSK, and grateful to all the people who have supported me on this journey, especially Emma.

“GSK is a very special company, with outstanding prospects and enormous capacity to impact people’s health and to change lives.

“As the next CEO, I am privileged to take on this responsibility, with humility and ambition.”

The company points to Luke as being instrumental in building its speciality medicines portfolio, particularly products related to oncology and respiratory, which have thrived in Q3.

In a post on LinkedIn in September, Emma shared: “In December 2016, as I was starting my own journey as GSK CEO, I wrote in my diary 'found Luke, dream appointment for this adventure'. Today, all this time later, my sentiment’s exactly the same.

“Luke has been a key partner to me in so many ways and one of my most important hires. I know he will lead GSK brilliantly, alongside a great team, to even more impact for patients.”