GSK’s new CEO Luke Miels outlined the drugmaker’s strategy for driving sales growth and accelerating the development of new medicines in the upcoming phase of growth. Miels, who recently succeeded Emma Walmsley, emphasized a sharper focus on programs that can revolutionize standard of care and strategic bolt-on deals.
In a call with journalists, Miels expressed the need to enhance existing initiatives and supplement them through smart business development. The announcement led to a surge in GSK shares, reaching their highest level in nearly 25 years. Miels affirmed the company’s goal of surpassing 40 billion pounds ($55 billion) in sales by 2031.
Despite challenges faced in 2025, including tariff threats and drug pricing pressures, GSK has experienced a strong recovery compared to its European counterparts. Factors contributing to this rebound include Miels’ appointment, robust earnings momentum, and the growth of its specialty medicines business.
Miels assured investors that there would be no major changes to GSK’s capital allocation strategy. The company plans to target deals in the 2-billion to 4-billion-pound range, with a focus on assets that can strengthen its late-stage pipeline. Miels highlighted the importance of selecting programs with established scientific foundations.
Last month, GSK made a significant acquisition of RAPT Therapeutics for an experimental food allergy drug, amounting to $2.2 billion. Looking ahead, GSK anticipates revenue growth of 3% to 5% this year, a slight decrease from the 7% growth experienced in 2025. The company reported strong core earnings and revenue for the last quarter of 2025, exceeding expectations.
New product launches will be crucial for sustaining GSK’s growth trajectory. The company secured five regulatory approvals in the U.S. last year, including treatments for asthma and blood cancer, expected to drive blockbuster sales.
However, uncertainties loom over GSK’s vaccine business, particularly in the U.S., following policy changes implemented by Health Secretary Robert F. Kennedy Jr. Sales from the vaccine and general medicines units are projected to decline slightly or remain stable in 2026, while the specialty medicines segment is forecasted to achieve double-digit growth.
In conclusion, under Miels’ leadership, GSK is poised to navigate challenges, drive innovation, and capitalize on strategic opportunities to propel growth and deliver value to shareholders.
