GSK reports improved outlook despite US drug tariffs

LONDON, July 30 (AFP): British pharmaceutical company GlaxoSmithKline on Wednesday said its annual performance should be better than expected, despite US tariffs, after sales of its cancer drugs jumped in the second quarter.

GSK, which makes medicines in the European Union as well as in the UK and United States, said its guidance took into account "the European tariffs indicated this week".

The EU-US trade deal reached at the weekend set a 15 per cent tariff on most European Union goods imported into the United States, while it is thought Washington could still take steps that would see medicines face a higher levy.

Despite the backdrop, GSK chief executive Emma Walmsley on Wednesday said the group expects to be "towards the top end of" its financial guidance for 2025 and remains "confident" over the longer term.

"GSK's strong momentum in 2025 continues with another quarter of excellent performance driven mainly by specialty medicines, our largest business, with double-digit sales growth in respiratory, immunology & inflammation.