葛兰素史克Glaxosmithkline（GSK）2025年第四季度及全年财报电话会议纪要「LSE」（英文版）（24页）.pdf

1、1 Investor Relations FY&Q4 2025 results Conference call and webcast for investors and analysts Wednesday,4 February 2026 at 11:00 GMT Conference call and webcast for investors and analysts Wednesday,4 February 2026 at 11:00 GMT Introduction|Introduction|Constantin FestConstantin Fest Slide 1Slide 1

2、Conference call and webcast for investors and analysts Slide Slide 2 2|Agenda|Agenda Ladies and gentlemen,a warm welcome to the GSK Full Year 2025 results call.I am delighted to be joined today by Luke Miels,Nina Mojas,Deborah Waterhouse,Tony Wood and Julie Brown.And in our Q&A session we will be jo

3、ined by David Redfern.Todays call will last approximately one hour with the presentation taking around 30 minutes and the remaining time for your questions.Please ask only 1-2 questions so that everyone has a chance to participate.Before we start,please turn to slide 3 Slide Slide 3 3|Cautionary sta

4、tement regarding forward|Cautionary statement regarding forward-looking statementslooking statements This is the usual safe-harbour statement.We will comment on our performance using constant exchange rates or CER unless otherwise stated.I will now hand over to Luke.Investor Relations FT&Q4 2025 res

5、ults 2 QQ4 4 2025 strong performance improves further2025 strong performance improves further|Luke MielsLuke Miels Slide 4Slide 4|2025 performance:Specialty Medicines growth drives strong sales and earnings delivery2025 performance:Specialty Medicines growth drives strong sales and earnings delivery

6、 Thank you and welcome everyone.My introduction today will have two parts:Headline results for 2025 and Our key focus areas in 2026 to drive value Starting with 2025:Results were strong.Sales were up 7%to more than 32bn.Growth was driven by Specialty Medicines which were up 17%,with Vaccines also co