GSK PLC (GSK): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos cuidados de saúde globais, a GlaxoSmithKline (GSK) surge como uma potência farmacêutica, navegando estrategicamente paisagens complexas de mercado por meio de sua inovadora tela de modelo de negócios. Esta estrutura abrangente revela como a GSK transforma o brilho científico em soluções de saúde que mudam a vida, alavancando Mais de 50 anos de experiência em pesquisa e uma rede global de parcerias que abrangem instituições de pesquisa, empresas de biotecnologia e prestadores de serviços de saúde. Ao dissecar o intrincado modelo de negócios da GSK, descobrimos os mecanismos estratégicos que permitem a essa corporação multinacional desenvolver medicamentos inovadores, fornecer vacinas de alta qualidade e impulsionar consistentemente inovações transformadoras de saúde que afetam milhões em todo o mundo.

GSK PLC (GSK) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com instituições de pesquisa farmacêutica

A GSK estabeleceu parcerias de pesquisa estratégica com as seguintes instituições -chave:

Instituição de pesquisa	Foco em parceria	Valor de colaboração
Universidade de Cambridge	Pesquisa de doenças infecciosas	£ 17,5 milhões de investimentos anuais
Escola de Medicina de Harvard	Pesquisa de imunologia	US $ 22,3 milhões de contrato colaborativo
Imperial College London	Desenvolvimento da vacina	Programa de pesquisa de £ 12,6 milhões

Acordos colaborativos com prestadores de serviços de saúde globais

As parcerias globais de provedores de saúde da GSK incluem:

• Programa de Distribuição da Vacina da Organização Mundial da Saúde (OMS): US $ 45 milhões com compromisso anual
• Parceria de aquisição da Vacina da UNICEF: Contrato de fornecimento de US $ 320 milhões
• Parceria Global Fund para tratamento de doenças infecciosas: colaboração de US $ 250 milhões em vários anos

Parcerias com centros médicos acadêmicos

Centro Médico	Domínio de pesquisa	Investimento em parceria
Clínica Mayo	Pesquisa de oncologia	Programa de pesquisa de US $ 35,7 milhões
Universidade Johns Hopkins	Pesquisa de doenças respiratórias	US $ 28,5 milhões de contrato colaborativo

Joint ventures com empresas de biotecnologia

As joint ventures de biotecnologia da GSK incluem:

• Colaboração de vacinas de mRNA moderna: contrato de desenvolvimento conjunto de US $ 1,2 bilhão
• Parceria de Pesquisa sobre Vacinas CUREVAC: US ​​$ 630 milhões em investimento estratégico
• Venture de desenvolvimento terapêutico da Biontech: Programa de colaboração de US $ 425 milhões

Cadeia de suprimentos e parcerias de rede de distribuição

Parceiro	Foco de distribuição	Valor do contrato
DHL Healthcare Logistics	Distribuição global da vacina	Contrato de logística anual de US $ 180 milhões
Soluções de saúde da FedEx	Remessa farmacêutica controlada por temperatura	Contrato de distribuição anual de US $ 95 milhões

GSK PLC (GSK) - Modelo de negócios: Atividades -chave

Pesquisa e Desenvolvimento Farmacêutico

Despesas de P&D em 2023: £ 4,1 bilhões

Áreas de foco em P&D	Investimento (milhão de libras)
Doenças infecciosas	1,250
Oncologia	980
Imunologia	750

Ensaios clínicos e testes de drogas

Número de ensaios clínicos em andamento em 2023: 157

• Ensaios de Fase I: 42
• Ensaios de Fase II: 68
• Fase III Trials: 47

Fabricação de vacinas e medicamentos

Locais de fabricação	Número de instalações
Reino Unido	7
Estados Unidos	6
Outros locais internacionais	12

Capacidade total de produção de vacinas: 2,5 bilhões de doses anualmente

Marketing Global e Vendas de Produtos de Saúde

Receita global de vendas em 2023: £ 33,2 bilhões

Categoria de produto	Vendas (bilhões de libras)
Farmacêuticos	22.7
Vacinas	8.1
Assistência médica ao consumidor	2.4

Conformidade regulatória e controle de qualidade

Número de inspeções de controle de qualidade em 2023: 423

• Auditorias de qualidade interna: 276
• Inspeções regulatórias externas: 147

Alocação de orçamento de conformidade: £ 350 milhões

GSK PLC (GSK) - Modelo de negócios: Recursos -chave

Portfólio de propriedade intelectual extensa

A partir de 2024, a GSK detém aproximadamente 16.500 patentes ativas globalmente. Valor da carteira de patentes estimado em US $ 42,3 bilhões.

Categoria de patentes	Número de patentes	Valor estimado
Compostos farmacêuticos	7,250	US $ 24,6 bilhões
Tecnologias de vacinas	3,800	US $ 12,5 bilhões
Sistemas de entrega de medicamentos	5,450	US $ 5,2 bilhões

Instalações avançadas de pesquisa e desenvolvimento

A GSK mantém 9 principais centros globais de P&D com investimento anual de P&D total de US $ 5,1 bilhões em 2024.

• Centros de P&D: Reino Unido, Estados Unidos, Bélgica, China, Cingapura
• Pessoal de pesquisa total: 14.500 cientistas e pesquisadores
• Orçamento de pesquisa anual: US $ 5,1 bilhões

Força de trabalho científica e médica qualificada

Força de trabalho global total: 79.200 funcionários a partir de 2024.

Categoria de funcionários	Número de funcionários
Cientistas de pesquisa	14,500
Desenvolvimento Clínico	6,800
Fabricação	22,600
Vendas e marketing	18,300
Administrativo	17,000

Infraestrutura de fabricação global

GSK opera 52 instalações de fabricação em 32 países.

• Capacidade total de fabricação: 22 bilhões de doses anualmente
• Sites de produção farmacêutica: 38
• Sites de produção de vacinas: 14
• Investimento total de fabricação: US $ 3,7 bilhões em 2024

Capital financeiro substancial para inovação

Recursos Financeiros a partir de 2024:

Métrica financeira	Quantia
Receita total	US $ 37,8 bilhões
Caixa e equivalentes de dinheiro	US $ 8,6 bilhões
Total de ativos	US $ 94,3 bilhões
Investimento em P&D	US $ 5,1 bilhões

GSK PLC (GSK) - Modelo de Negócios: Proposições de Valor

Soluções inovadoras de saúde e medicamentos

A GSK registrou receita total de £ 33,3 bilhões em 2022, com produtos farmacêuticos gerando £ 23,4 bilhões. As principais áreas farmacêuticas incluem:

• Medicamentos respiratórios: receita de £ 5,2 bilhões
• Tratamentos de HIV: receita de £ 4,8 bilhões
• Tratamentos oncológicos: receita de £ 2,6 bilhões

Área terapêutica	2022 Receita (bilhão de libras)	Participação de mercado global
Medicamentos respiratórios	5.2	14.7%
Tratamentos do HIV	4.8	22.3%
Tratamentos oncológicos	2.6	8.5%

Vacinas de alta qualidade para proteção global da saúde

A divisão de vacinas gerou receita de £ 7,5 bilhões em 2022, com impacto global significativo:

• Vacina Covid-19: receita de £ 3,4 bilhões
• Vacina de telhas (Shingrix): receita de £ 2,1 bilhões
• Vacinas de meningite: receita de £ 1,2 bilhão

Capacidades avançadas de pesquisa farmacêutica

Investimento de pesquisa e desenvolvimento em 2022: £ 4,5 bilhões, representando 14,2% da receita total. O pipeline de pesquisa atual inclui:

• 55 programas de desenvolvimento clínico ativos
• 18 novas entidades moleculares em potencial
• 7 designações de terapia inovadora

Portfólio de produtos de saúde abrangente

Categoria de produto	2022 Receita (bilhão de libras)	Posição do mercado global
Medicamentos prescritos	23.4	5 principais empresas farmacêuticas globais
Vacinas	7.5	Principal fabricante de vacinas do mundo
Assistência médica ao consumidor	4.2	3 melhores marcas globais de saúde do consumidor

Concentre -se em melhorar os resultados dos pacientes

Abordagem centrada no paciente demonstrada através de:

• £ 4,5 bilhões de investimento anual de P&D
• 93% dos medicamentos visando necessidades médicas não atendidas
• Presença em mais de 150 países em todo o mundo

GSK PLC (GSK) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento profissional médico direto

A GSK mantém 22.500 representantes médicos globalmente que se envolvem diretamente com os profissionais de saúde. Em 2023, a empresa registrou 1,3 milhão de interações diretas com médicos e especialistas.

Canal de engajamento	Volume anual de interação
Reuniões de vendas diretas	678,000
Conferências médicas	412,000
Plataformas profissionais digitais	210,000

Programas de apoio ao paciente e educação

A GSK investiu £ 87,4 milhões em iniciativas de apoio ao paciente em 2023, cobrindo várias áreas terapêuticas.

• Programas educacionais de vacinação atingindo 14,2 milhões de pacientes
• Suporte crônico ao manejo de doenças para 3,6 milhões de pacientes
• Plataformas de suporte digital de pacientes com 2,1 milhões de usuários registrados

Plataformas de saúde digital e comunicação

O ecossistema de saúde digital da GSK inclui 7 plataformas de comunicação integradas, atendendo 48 países.

Plataforma digital	Base de usuários
Portal de informações do paciente	1,9 milhão de usuários
Rede Profissional de Saúde	124.000 profissionais registrados
Aplicativos de saúde móvel	3 aplicações ativas

Consultas de saúde personalizadas

A GSK implantou 1.250 equipes especializadas em consultoria em saúde em 36 países em 2023.

• Especialistas em consultoria de oncologia: 340
• Equipes de consulta de doenças respiratórias: 425
• Grupos de consulta de imunologia: 485

Colaborações de pesquisa clínica em andamento

A GSK manteve 218 colaborações de pesquisa ativa com instituições acadêmicas e médicas em todo o mundo em 2023.

Tipo de colaboração	Número de parcerias
Instituições de pesquisa acadêmica	142
Centros de Pesquisa Médica	56
Organizações Globais de Saúde	20

GSK PLC (GSK) - Modelo de Negócios: Canais

Redes de distribuição farmacêutica

A GSK opera através de 154 centros de distribuição em todo o mundo, atendendo a 160 países. A rede de distribuição farmacêutica da empresa processa aproximadamente 1,2 bilhão de unidades de produtos anualmente.

Região	Centros de distribuição	Volume anual de distribuição
Europa	48	380 milhões de unidades
América do Norte	42	310 milhões de unidades
Ásia-Pacífico	37	280 milhões de unidades
Resto do mundo	27	230 milhões de unidades

Vendas diretas para instituições de saúde

A GSK mantém uma força de vendas direta de 18.500 representantes farmacêuticos direcionados a hospitais, clínicas e prestadores de serviços de saúde.

• Cobertura de representante de vendas médias: 75-100 instituições de saúde por representante
• Receita anual de vendas diretas: £ 22,3 bilhões
• Segmentos -alvo primários: hospitais, centros de pesquisa, clínicas especializadas

Plataformas de informações médicas online

A GSK opera 7 plataformas principais de informações médicas digitais com 2,4 milhões de profissionais de saúde registrados.

Tipo de plataforma	Usuários registrados	Usuários ativos mensais
Portal médico profissional	1,2 milhão	680,000
Rede de Pesquisa Clínica	650,000	420,000
Plataforma de pesquisa farmacêutica	550,000	310,000

Conferências globais de saúde

A GSK participa de 42 grandes conferências internacionais de saúde anualmente, com uma participação média de 1.200 participantes profissionais por evento.

• Orçamento anual de participação na conferência: £ 14,5 milhões
• Frequência média de apresentação da conferência: 18 por ano
• Tipos de conferência: pesquisa médica, inovação farmacêutica, ensaios clínicos

Canais de marketing e comunicação digital

A GSK utiliza 12 canais de marketing digital primários com um gasto total de marketing digital de £ 187 milhões em 2023.

Canal digital	Alcance mensal	Taxa de engajamento
LinkedIn	1,8 milhão de profissionais	4.2%
Twitter	1,2 milhão de seguidores	3.7%
YouTube	850.000 visualizações mensalmente	2.9%
Webinars profissionais	620.000 registrantes	5.1%

GSK PLC (GSK) - Modelo de negócios: segmentos de clientes

Profissionais de saúde

A GSK atende a aproximadamente 1,5 milhão de profissionais de saúde globalmente em 2024.

Quebra de segmento	Número de profissionais
Médicos	750,000
Farmacêuticos	350,000
Especialistas	400,000

Organizações de Saúde do Governo

A GSK fornece produtos farmacêuticos para 112 sistemas nacionais de saúde em todo o mundo.

Região	Número de contratos governamentais
Europa	38
América do Norte	27
Ásia-Pacífico	35
África/Oriente Médio	12

Provedores de assistência médica privados

A GSK atende 45.000 instituições privadas de saúde globalmente.

• Redes hospitalares: 12.500
• Clínicas privadas: 25.000
• Centros Médicos: 7.500

Pacientes individuais

A GSK atinge aproximadamente 1,3 bilhão de pacientes individuais anualmente.

Área terapêutica	Volume do paciente
Respiratório	380 milhões
Doenças HIV/Infecciosas	290 milhões
Oncologia	210 milhões
Imunologia	420 milhões

Instituições de pesquisa farmacêutica

A GSK colabora com 850 instituições de pesquisa em todo o mundo.

• Centros de pesquisa acadêmica: 450
• Institutos de pesquisa independentes: 250
• Centros de pesquisa de biotecnologia: 150

GSK PLC (GSK) - Modelo de negócios: estrutura de custos

Investimento significativo em P&D

As despesas de P&D da GSK em 2022 foram de £ 4,2 bilhões, representando 13% da receita farmacêutica total.

Ano	Investimento em P&D (bilhão de libras)	Porcentagem de receita
2022	4.2	13%
2021	4.1	12.8%

Despesas de fabricação e produção

Os custos totais de fabricação em 2022 foram de £ 6,8 bilhões, com os principais locais de produção em vários países.

• Instalações de fabricação globais: 45 sites
• Países de produção: Reino Unido, Estados Unidos, China, Índia
• Custo médio de fabricação por linha de produto: £ 180 milhões

Custos de marketing e vendas globais

As despesas de marketing e venda em 2022 totalizaram £ 8,1 bilhões.

Região	Despesas de marketing (milhão de libras)
Europa	2,700
América do Norte	3,500
Ásia -Pacífico	1,200
Resto do mundo	700

Despesas de conformidade regulatória

Os custos relacionados à conformidade em 2022 foram de aproximadamente £ 750 milhões.

• Taxas de arquivamento regulatório: £ 220 milhões
• Infraestrutura de conformidade: £ 350 milhões
• Custos legais e de auditoria: £ 180 milhões

Ensaios clínicos e financiamento de pesquisa

Os gastos com ensaios clínicos em 2022 atingiram £ 2,3 bilhões.

Fase de teste	Custo (milhão de libras)	Número de ensaios
Fase I.	350	45
Fase II	850	75
Fase III	1,100	55

GSK PLC (GSK) - Modelo de negócios: fluxos de receita

Vendas farmacêuticas de produtos

Vendas totais de produtos farmacêuticos para GSK em 2022: £ 24,9 bilhões

Área terapêutica	Receita (£ bilhões)
Respiratório	8.2
HIV	5.3
Oncologia	4.1

Distribuição da vacina

Vendas totais de vacinas em 2022: £ 7,4 bilhões

• Receita da vacina covid-19: £ 3,1 bilhões
• Receita de vacina com telhas (Shingrix): £ 2,2 bilhões
• Receita de vacinas pediátricas: £ 1,9 bilhão

Propriedade intelectual de licenciamento

Receita de licenciamento de propriedade intelectual em 2022: £ 1,6 bilhão

Parceiro de licenciamento	Receita (milhões de libras)
Parceiros farmacêuticos	1,200
Empresas de biotecnologia	400

Serviços de Pesquisa em Contrato

Receita de Pesquisa e Desenvolvimento de Contrato em 2022: £ 620 milhões

• Colaborações de ensaios clínicos: £ 410 milhões
• Parcerias de pesquisa: £ 210 milhões

Soluções globais de saúde

Receita global de soluções de saúde em 2022: £ 1,3 bilhão

Categoria de serviço	Receita (milhões de libras)
Serviços de diagnóstico	520
Soluções de Saúde Digital	380
Serviços de consultoria	400

GSK plc (GSK) - Canvas Business Model: Value Propositions

The Value Propositions for GSK plc center on delivering science-led vaccines and specialty medicines across four core therapeutic areas to address high unmet medical need.

Long-acting HIV treatments (Cabenuva) for patient convenience.

GSK plc delivers patient convenience through long-acting injectable HIV regimens. For the second quarter of 2025 (Q2 2025), the long-acting medicine Cabenuva, which is the only complete long-acting injectable regimen for HIV treatment, achieved sales of £341 million. This represented a growth of 46% compared to Q2 2024. These long-acting options contributed more than 70% of the total HIV growth in Q2 2025, with Cabenuva alone accounting for 55% of that HIV growth. The prevention option, Apretude, delivered sales of £101 million in the same quarter, growing 50%.

Best-in-class vaccines like Shingrix for shingles prevention.

Vaccines remain a critical value driver, though performance varies across the portfolio. For Q1 2025, total Vaccines sales were £2.1 billion, representing a 6% decline year-over-year at constant exchange rates (CER). Shingrix, the shingles vaccine, posted sales of £0.9 billion in Q1 2025, seeing a 7% decline. However, by Q2 2025, Shingrix sales were £0.9 billion, showing growth of 6% at CER. The newer respiratory syncytial virus (RSV) vaccine, Arexvy, had Q1 2025 sales of £0.1 billion (down 57% CER) but grew to £0.1 billion in Q2 2025 (up 13% CER). Meningitis vaccines showed strong growth, with Q2 2025 sales of £0.4 billion, up 22% CER.

Specialty treatments in Oncology and Respiratory, Immunology & Inflammation.

The Specialty Medicines division is the primary engine for growth. In Q2 2025, this segment delivered sales of £3.3 billion, a 15% increase at CER. The Respiratory, Immunology & Inflammation franchise, which includes products like Nucala, saw Q2 2025 sales of £1.0 billion, growing 10% at CER. Oncology sales reached £0.5 billion in Q2 2025, marking a substantial 42% growth at CER. The company expects to launch 14 key opportunities between 2025 and 2031, each with potential peak year sales (PYS) exceeding £2 billion.

You can see the breakdown of recent performance for these key value drivers here:

Product/Area	Latest Reported Quarter (2025)	Sales Amount (£m)	CER Growth vs Prior Year
Specialty Medicines (Total)	Q2 2025	3,300	+15%
HIV (Total)	Q2 2025	1,900	+12%
Cabenuva (within HIV)	Q2 2025	341	+46%
Respiratory, Immunology & Inflammation	Q2 2025	1,000	+10%
Oncology	Q2 2025	500	+42%
Shingrix (Vaccines)	Q2 2025	900	+6%
Trelegy (General Medicines)	Q2 2025	800	+4%

Addressing high unmet medical need in four core therapeutic areas.

GSK plc focuses its R&D and commercial efforts on areas with significant patient burden. These four core therapeutic areas are:

• Infectious diseases.
• HIV.
• Oncology.
• Respiratory, Immunology and Inflammation.

The company is investing heavily to progress its pipeline, with 71 Specialty Medicines and Vaccines in clinical development as of the end of 2024, including 19 in Phase III or registration. For 2025, GSK upgraded its guidance, now expecting turnover growth of between 6% to 7% at CER, up from the previous expectation towards the top end of 3% to 5%.

Commitment to positively impact 2.5 billion people by decade end.

A central part of GSK plc's purpose is its commitment to health impact at scale. The ambition is to positively impact the health of 2.5 billion people by the end of the decade (2030). As of the 2024 Responsible Business Performance Report (published February 2025), based on estimates, the company had already reached at least 2 billion people. To support this goal, GSK's global supply chain network delivered 1.7 billion packs of medicines and over 400 million vaccine doses in the last year (2024). The company plans to achieve this through responsible pricing, strategic access programmes, and partnerships.

GSK plc (GSK) - Canvas Business Model: Customer Relationships

You're looking at how GSK plc manages its relationships with the diverse groups that influence its success, from the doctors prescribing its medicines to the governments setting access rules. It's a high-stakes game of trust and science.

Dedicated medical science liaisons (MSLs) for specialist engagement

The scale of GSK plc's scientific engagement is backed by significant investment. For the twelve months ending September 30, 2025, GSK plc's Research and Development Expenses hit $9.421B. This commitment to science underpins the expertise MSLs bring to specialist conversations. Furthermore, GSK plc announced plans to invest at least $30 billion across the United States in R&D and supply chain infrastructure over the next five years, starting in 2025. A portion of this, $1.2 billion, is specifically earmarked for advanced manufacturing facilities, AI, and advanced digital technologies. This focus on digital tools definitely suggests a sophisticated, data-driven approach to how their medical teams interact with key opinion leaders.

High-touch, long-term relationships with government health bodies

GSK plc's relationships with government bodies are critical for market access and global health security initiatives. The company sells to customers, including government mandated contracts, particularly in the US, where reimbursement arrangements involve rebates, chargebacks, and rights of return. The company's commitment to global health is quantified through specific, time-bound actions:

Access Initiative	Metric/Target	Timeframe/Scope
Malaria Vaccine Allocation	18 million doses allocated	To 12 African countries for 2023 to 2025.
Echinococcosis Treatment	Commitment to provide 5 million tablets annually	Annually until 2025.
Albendazole Donation	Pledging up to 100 million doses annually	Annually until 2030.
Late-Stage Access Plans	Access plans in place for 92% (23/25) of late-stage candidates targeting a priority gap	Ongoing pipeline assessment.

Digital and patient-centric marketing for new product launches

The integration of digital capabilities is a clear focus area, evidenced by the $1.2 billion investment component for AI and advanced digital technologies across US sites. This technological push supports patient-centric efforts, especially around high-growth specialty products. For instance, the HIV portfolio showed strong momentum in Q2 2025, with Long-Acting Medicine sales contributing more than 70% of the total HIV growth for that quarter. Specific product performance highlights the success of these targeted commercial efforts:

• Cabenuva sales reached £341 million in Q2 2025, marking a 46% growth.
• Apretude, the long-acting injectable for prevention, delivered sales of £101 million in Q2 2025, growing 50% compared to Q2 2024.
• Specialty Medicines sales overall were £3.3 billion in Q2 2025, up 15% year-over-year.

Managed access programs for global health security

GSK plc has a forward-looking approach to access, generally beginning to develop access plans for R&D projects in Phase II of clinical development. The company recently committed to making at least 2 million doses of a specific product available for procurement for Low- and Middle-Income Countries (LMICs) between 2025 and 2026. This aligns with their broader strategy for key HIV products, where ViiV Healthcare extended a voluntary licensing agreement in July 2025 to enable generic long-acting injectable cabotegravir (CAB LA) for treatment in 133 countries.

Building trust through clinical trial transparency

Trust is built through openness regarding research. GSK plc launched its Clinical Study Register website in 2004. As of the latest figures, this register lists 6,835 GSK trials across 185 countries. This includes over 5,600 result summaries and approximately 230 clinical study reports (CSRs). The company posts result summaries within a year of study completion, regardless of whether the outcome reflects positively or negatively on their products. Furthermore, since the beginning of 2020, they have been developing plain language summaries of clinical trial results, written to be understandable to a layperson.

Finance: draft 13-week cash view by Friday.

GSK plc (GSK) - Canvas Business Model: Channels

Direct sales force targeting healthcare professionals (HCPs).

GSK plc anticipates further leverage in Operating profit as it continues to take a returns-based approach to SG&A investments, with SG&A expected to grow at a low single-digit percentage for the full year 2025.

Global network of wholesalers and distributors.

The company sells its products through wholesalers, pharmacies, hospitals, physicians and other groups worldwide.

Government tenders and procurement systems (e.g., NHS).

The introduction of the Inflation Reduction Act is expected to have a £150 million to £200 million impact on HIV sales in 2025.

Specialty pharmacies for complex treatments.

Long-Acting Medicine sales contributed more than 70% of the total HIV growth in Q2 2025. Cabenuva, a long-acting injectable regimen, reached sales of £341 million in Q2 2025. Apretude, a long-acting injectable option for HIV prevention, delivered sales of £101 million in Q2 2025.

Digital platforms for non-promotional and educational content.

GSK plc is implementing digital twins across 10 studies in 2025, aiming to reduce the number of patients needed by an average of 15% in clinical trials where these methods are applicable.

The channel strategy supports the overall business performance, as seen in the segment sales data for Q3 2025:

Segment/Product Metric	Q3 2025 Sales Amount	Year-over-Year Growth (CER)
Total Turnover	£8.5 billion	8%
Specialty Medicines Sales	£3.4 billion	16%
HIV Sales	£1.9 billion	12%
Vaccines Sales	£2.7 billion	2%
General Medicines Sales	£2.5 billion	4%

Within the HIV portfolio in Q2 2025, Oral 2DR sales were £655 million, representing 43% of the total HIV portfolio.

The company expects full-year 2025 royalty income to be between £750-800 million.

GSK plc expects 2025 turnover growth between 6% to 7% at constant exchange rates (CER).

• Expected 2025 Core operating profit growth (CER): 9% to 11%.
• Expected 2025 Core EPS growth (CER): 10% to 12%.
• Expected full-year 2025 dividend: 64p per share.
• Share buyback programme: £2 billion total, with £1.1 billion spent in YTD 2025.

GSK plc (GSK) - Canvas Business Model: Customer Segments

You're looking at the core groups GSK plc targets to drive its business, which is heavily weighted toward specialty care as of late 2025. Honestly, the numbers clearly show where the focus is-it's all about Specialty Medicines now.

The primary customer segments are the gatekeepers and the end-users of their high-value portfolio. Think about the prescribing physicians, the public health bodies buying in bulk, and the patients managing long-term conditions. These groups directly translate into the revenue streams we see in the financial reports.

Healthcare Professionals (HCPs) who prescribe Specialty Medicines and Vaccines

HCPs are the direct interface for prescribing the products that are fueling GSK's growth. Their decisions drive sales across the most dynamic areas of the business. Specialty Medicines sales, which these HCPs prescribe, hit £3.3 billion in Q2 2025, marking a 15% increase year-over-year at constant exchange rates (CER). This segment is the engine, with HIV, Oncology, and Respiratory/Immunology/Inflammation all showing double-digit growth in the first half of 2025.

For example, in HIV, the shift to long-acting regimens, which HCPs administer, is profound. Long-Acting Medicines contributed over 75% of the total HIV growth in Q3 2025. Prescribers are adopting Cabenuva, which reached sales of £341 million in Q2 2025, up 46%.

Government and public health organizations for mass vaccination programs

This segment is crucial for the Vaccines division, often involving large-scale procurement decisions by national health authorities. While the Vaccines division saw a dip in Q1 2025 sales to £2.1 billion (-6% AER), Q2 2025 showed a rebound with sales of £2.1 billion (+9% CER). Meningitis vaccines, a key area for public health tenders, saw sales of £379 million in Q2 2025, growing 22%.

The launch of new vaccines, like Penmenvy in Q1 2025, is targeted directly at these large-scale buyers following positive recommendations, such as the ACIP recommendation for Penmenvy and Arexvy in adults aged 50-59.

Patients with chronic diseases like HIV, COPD, and severe asthma

These patients are the ultimate beneficiaries, and their adherence and need sustain the revenue from key products. HIV sales were £1.88 billion in Q2 2025, a 12% increase. Dovato, a key oral treatment, remains the largest product in the HIV portfolio with sales of £655 million in Q2 2025, growing 23%.

For COPD and severe asthma, Nucala sales were £498 million in Q1 2025, showing 7% growth, with a new indication for COPD expected to expand this patient base further. The company also has depemokimab, a biologic for severe asthma and nasal polyps, expecting a US regulatory decision in December 2025, targeting a significant patient population.

Oncology specialists and patients with multiple myeloma or GIST

This is a high-growth area for GSK, driven by specialist adoption of novel therapies. Oncology sales were £484 million in Q2 2025, a massive 42% jump. Jemperli led this charge, growing 91% to £196 million following an expanded US approval. Ojjaara/Omjjara added £138 million, up 69%.

For multiple myeloma, Blenrep recorded £4 million in sales in Q2 2025 after receiving approvals in markets like the U.K. and Japan, with a new US regulatory decision date set for October 23, 2025. Furthermore, IDRx-42 for 2L GIST is expected to start pivotal/Phase III trials in H2 2025, indicating a future segment focus.

Payers and formulary decision-makers in major markets

Payers control access and reimbursement, making them a critical, albeit indirect, customer segment. Their decisions impact the net realized price and formulary placement. The US market, a major payer landscape, generated £4.12 billion in sales in Q2 2025, growing 5%. However, the HIV segment in the US specifically noted a -2ppts impact from pricing, including the IRA Medicare Part D redesign, which directly reflects payer policy influence.

The overall financial health, with a raised full-year forecast for turnover growth toward the upper end of the 3% to 5% range at CER, is what ultimately satisfies these financial stakeholders.

Here's a quick look at how the key revenue drivers map to these segments based on Q2 2025 performance:

Customer Segment Proxy	Key Financial Metric (Q2 2025)	Amount (£m)	Year-over-Year Growth (CER)
HCPs (Specialty Medicines)	Specialty Medicines Sales	3,300	+15%
Government/Public Health (Vaccines)	Total Vaccines Sales	2,100	+9%
Patients (HIV)	HIV Sales	1,880	+12%
Oncology Specialists/Patients	Oncology Sales	484	+42%
Payers (Geographic Access)	U.S. Sales	4,120	+5%

The company's focus on high-growth specialty areas is clear, with Specialty Medicines sales accounting for roughly 41.7% of the total Q2 2025 turnover of £7.986 billion. This concentration means the success of the business defintely hinges on continued positive engagement with the HCPs and payers governing these specialized treatments.

GSK plc (GSK) - Canvas Business Model: Cost Structure

You're looking at the expense side of the GSK plc equation, which is heavily weighted toward future innovation and maintaining a complex global supply chain. Honestly, for a company this size, the cost structure is a massive undertaking, dominated by science and getting those specialized medicines to patients.

The single largest recurring cost driver is the commitment to research and development. GSK is pouring serious money into its pipeline to secure future revenue streams. For the twelve months ending September 30, 2025, Research and Development Expenses hit $9.421B. This reflects an acceleration in investment, as R&D was expected to grow ahead of sales for the full year 2025. To be fair, this US-focused investment is layered on top of significant spending back home; GSK continues to invest more than £1.5 billion in R&D every year in the UK.

Manufacturing and supply chain costs are inherently high because GSK deals with complex biologics, which require specialized, high-tech production environments. The company is actively upgrading this infrastructure, particularly in the US. They announced a new $1.2 billion investment package over five years dedicated to advanced manufacturing facilities and AI integration across their US footprint. This includes the construction of an additional next-generation biologics 'flex' factory in Upper Merion, Pennsylvania, though construction is planned to start in 2026. This follows the start of construction in October 2024 on an $800 million facility in Marietta, Pennsylvania.

Commercialization requires substantial Selling, General, and Administrative (SG&A) expenses to support global product launches and market access. For the twelve months ending September 30, 2025, SG&A expenses were $11.859B. This is down from the $14.076B recorded for the full year 2024. The company aims for disciplined investment here, with 2025 guidance anticipating SG&A to grow at a low single-digit percentage at constant exchange rates.

Legal expenses and contingent liabilities are a volatile, but significant, cost component. While you mentioned a £1.5 billion Zantac provision, the most concrete recent legal charge related to Zantac settlements was an incremental charge recognized in Q3 2024 of £1.8 billion (approximately $2.3 billion) to resolve the vast majority of US state court cases. Separately, in Q1 2025, the remeasurement of contingent consideration liabilities resulted in a net charge of £10 million, a significant swing from the £704 million credit seen in Q1 2024.

Here's a quick look at some of the key cost-related financial metrics we see:

Cost Category/Metric	Amount/Value	Period/Context
Research & Development Expenses	$9.421B	LTM September 30, 2025
SG&A Expenses	$11.859B	LTM September 30, 2025
SG&A Expenses	$14.076B	Full Year 2024
New US Manufacturing CapEx (Flex Factory/AI)	$1.2 billion	Part of a 5-year US investment plan
Existing US Manufacturing CapEx (Marietta)	$800 million	Construction started October 2024
Zantac Litigation Charge (Incremental)	£1.8 billion (approx. $2.3 billion)	Q3 2024 Charge
Contingent Consideration Liability Remeasurement	£10 million (Charge)	Q1 2025
UK R&D Investment	More than £1.5 billion	Annually

The cost structure is clearly geared toward high-value, high-risk R&D and the capital-intensive manufacturing required for biologics. You can see the trade-off in the legal provisions, where large, lumpy expenses like the Zantac settlements are managed alongside steady operational costs like SG&A.

• Heavy investment in US next-gen biologics 'flex' factories, with construction planned to start in 2026.
• New AI and advanced digital technology capabilities being introduced across 5 existing US manufacturing sites.
• Total planned US investment across R&D and supply chain infrastructure is at least $30 billion over the next five years.
• Core SG&A growth in Q1 2025 was partly offset by a 4 percentage point impact from a Q1 2024 legal provision reversal.

Finance: draft the Q4 2025 cost projection variance analysis by next Tuesday.

GSK plc (GSK) - Canvas Business Model: Revenue Streams

You're looking at how GSK plc generates its top-line revenue as of late 2025, following a strong third quarter that prompted an upgrade to the full-year outlook. Honestly, the business is clearly leaning heavily on its specialty portfolio to drive value.

Total Q3 2025 sales hit £8.5 billion, which represented a 7% increase on an actual exchange rate (AER) basis over the prior year, or 8% at constant exchange rates (CER). This performance really sets the stage for the updated full-year expectations.

Here's the quick math on the primary revenue streams reported for the third quarter:

• Sales of Specialty Medicines, which hit £3.4 billion in Q3 2025.
• Vaccine sales, totaling £2.7 billion in Q3 2025.
• General Medicines sales, which were £2.5 billion in Q3 2025.
• Royalty income, now expected to be £800-£850 million for the full year 2025, up from previous guidance, including proceeds from IP settlements.

To give you a clearer picture of the segment contributions from that strong Q3 performance, check out this breakdown:

Revenue Stream Segment	Q3 2025 Sales (Reported)	Q3 Growth (CER)
Specialty Medicines Total	£3.4 billion	+16%
HIV Sales	£1.9 billion	+12%
Oncology Sales	£0.5 billion	+39%
Vaccines Total	£2.7 billion	+2%
Shingrix	£0.8 billion	+13%
General Medicines Total	£2.5 billion	+4%
Trelegy	£0.7 billion	+25%

So, based on the momentum seen through September, GSK plc now expects its full-year 2025 turnover growth to be between 6% to 7% at constant exchange rates, a definite step up from earlier guidance. That's the current expectation you should be modeling with.