GSK Q3 profit drops 23% to £1.5bn on restructuring costs, but revenue rises 4%

British pharma giant GSK reported Wednesday a 23% fall in third-quarter net profit to £1.5 billion ($2.1 billion), hit by restructuring costs from its three-year cost savings programme. Revenue rose 4% to £8.9 billion, driven by strong sales of cancer, respiratory, and HIV drugs. The company reaffirmed its full-year guidance and targets £1.9 billion in annual savings by 2029. Shares fell around 5% on the London Stock Exchange.

CEO Luke Miels, who took over from Emma Walmsley at the start of the year, said key growth drivers and new launches performed well. GSK is also considering cutting 1,200 jobs at its Belgium subsidiary—about 15% of its workforce there—amid falling global vaccine demand. Last year, annual profit more than doubled to £5.7 billion.

For Nigeria, GSK operates a significant local subsidiary (GSK Consumer Nigeria) supplying vaccines, antibiotics, and consumer health products. Global restructuring could eventually affect local operations, pricing, or supply chains for essential medicines. Nigerian investors with exposure to pharmaceutical stocks or healthcare supply chains should monitor for downstream impacts.

With GSK streamlining globally to focus on late-stage pipeline drugs, will Nigerian pharma distribution face pressure on vaccine availability or consumer health product pricing in the coming quarters?

SOURCE: https://www.channelstv.com/2026/10/28/uk-drugs-group-gsk-profit-drops-amid-cost-saving-overhaul/