GSK share price today, latest news, dividend, buyback activity and stock forecast as of 5 December 2025.
GSK Share Price: Trading Near Multi‑Year Highs After a Strong 2025
GSK plc (LON:GSK; NYSE:GSK) is heading into year‑end 2025 on the front foot.
As of the latest close before 5 December 2025, GSK’s London‑listed shares were trading around 1,826–1,837p, while the NYSE‑listed ADR ended at about $48.57 on 4 December. [1]
That puts the stock close to its 52‑week highs of roughly $48.7 for the ADR and just below recent peaks in London, after a powerful run from roughly $34 per ADR at the start of 2025 – a year‑to‑date gain of a little over 40%. [2]
On 3 December, GSK’s London stock moved decisively above its 200‑day moving average, trading as high as 1,826.5p versus a 200‑day average of 1,532.0p. MarketBeat data put the LSE listing on a price/earnings ratio of around 13.7, a PEG (price/earnings-to-growth) ratio of 1.24, and a market cap of about £73 billion, with a relatively high debt‑to‑equity ratio of ~115% and a current ratio of 0.81. [3]
In New York, the ADR trades on a similar P/E around 13.5, a beta near 0.5 (less volatile than the broader market), with a market capitalisation just below $100 billion and a 52‑week range of $31.72–$48.69. [4]
The rally reflects a combination of:
- Strong Q3 earnings and upgraded 2025 guidance,
- Ongoing share buybacks and dividends,
- A partial clearing of the Zantac litigation overhang, and
- Investor optimism about a deep pipeline, even as vaccines face headwinds.
Latest GSK Stock News as of 5 December 2025
1. Buybacks Continue at Pace
GSK has been an active buyer of its own shares into the year‑end rally.
Regulatory announcements filed this week show that the company repurchased around 203,000 ordinary shares on 1 December at a volume‑weighted average price of about 1,800p, followed by a further 200,000 shares on 2 December in a price range of roughly 1,783–1,827p. [5]
Since 30 September 2025, GSK has bought back over 11.5 million shares under its current repurchase programme. [6] This is part of a previously announced £2 billion share buyback, which Morningstar notes is expected to be completed by the first half of 2026. [7]
For shareholders, it means GSK is returning capital twice: through cash dividends and by shrinking the share count, which mechanically boosts earnings per share.
2. Executive Share Option Grants
Fresh filings on 5 December highlight new option awards for senior executives under GSK’s Save As You Earn plan.
A Form 6‑K details options over 643 ordinary shares each granted to senior figures including James Ford (General Counsel), David Redfern (Chief Strategy Officer) and Victoria Whyte (Company Secretary) at an exercise price of 1,419p per share. [8]
While small in scale versus their existing holdings, these grants are a reminder that executive incentives remain closely tied to the share price.
3. Institutional Buying: Fisher and Quantbot Add to Positions
On the institutional side, recent 13F disclosures show continued interest in GSK from large professional investors:
- Fisher Asset Management increased its stake by 4.4% in Q2, to 31.34 million ADRs, representing about 1.54% of GSK and valued around $1.2 billion at the time of reporting. [9]
- Quant‑driven hedge fund Quantbot Technologies lifted its position by 184.6% to 138,898 ADRs, worth about $5.3 million. [10]
MarketBeat estimates that institutional investors now hold roughly 15.7% of the company’s stock. [11]
4. GSK India Plans a “Big Reinvention”
In India, subsidiary GlaxoSmithKline Pharmaceuticals is planning a major reinvention, according to an interview with managing director Bhushan Akshikar published on 5 December. [12]
The plan focuses on:
- Sharpening its portfolio in respiratory, anti‑infectives and pain,
- Reinvesting in flagship brands, and
- Accelerating growth in one of the world’s most important emerging pharma markets.
GSK plc owns a controlling stake in the Indian unit, so sustained growth there feeds into the consolidated group story.
5. New Blood‑Cancer Data at ASH 2025
Looking ahead to the American Society of Hematology (ASH) 2025 meeting (6–9 December), GSK will present extensive new data from its haematology portfolio. [13]
Key highlights include:
- Long‑term follow‑up from DREAMM‑7 and DREAMM‑8 for belantamab mafodotin (Blenrep) in relapsed/refractory multiple myeloma,
- Additional analyses from the MOMENTUM and SIMPLIFY programmes for momelotinib (Ojjaara/Omjjara) in myelofibrosis, and
- Early combination‑therapy data (ODYSSEY trial) testing momelotinib with luspatercept.
For equity investors, ASH is another checkpoint for oncology credibility after the company won fresh approvals for Blenrep in 2025. [14]
Earnings: Strong Q3 2025 and Upgraded Guidance
GSK’s powerful share‑price momentum is rooted in a notably strong Q3.
In its Q3 2025 results, GSK reported:
- Sales of £8.55 billion, up 7% at actual exchange rates (AER) and 8% at constant currency (CER),
- Core EPS of 55.0p, up 14% CER,
- Total operating profit more than doubling year‑on‑year, helped by lower legal costs and other one‑off items, and
- Free cash flow of £1.2 billion for the quarter. [15]
Segment performance underscored the shift toward higher‑margin specialty medicines:
- Specialty Medicines sales: £3.4bn, up 16%, with
- HIV at £1.9bn (+12%),
- Oncology at £0.5bn (+39%), and
- Respiratory, Immunology & Inflammation at £1.0bn (+15%).
- Vaccines: £2.7bn (+2%), including
- Shingrix at £0.8bn (+13%),
- Meningitis vaccines at £0.5bn (+5%), and
- Arexvy, the RSV vaccine, at £0.3bn, up 36% vs Q3 2024. [16]
At the same time, U.S. vaccines remain a weak spot: Reuters notes that global vaccine sales beat forecasts in Q3, but U.S. Shingrix revenue fell 15% and RSV demand remains subdued amid vaccine skepticism and narrower recommendations. [17]
Guidance Raised for 2025
Crucially, GSK raised its 2025 guidance in October:
- Revenue growth now expected at 6–7%, up from prior 3–5%,
- Core EPS growth now 10–12%, vs 6–8% previously. [18]
In dollar terms, MarketBeat summarizes that the company now targets FY 2025 EPS of $4.73–$4.81 per ADR, versus prior analyst expectations around $4.14. [19]
That guidance explicitly includes the impact of new U.S. tariffs on European pharma imports – a key macro worry for European drug makers – which suggests some resilience in the earnings plan. [20]
Pipeline and Growth Drivers: Beyond the 2025 Numbers
GSK is increasingly positioning itself as a “pure‑play biopharma” focused on vaccines and specialty medicines rather than the diversified consumer‑health conglomerate it once was.
The Q3 2025 pipeline update lists over 60 vaccine and medicine candidates across four pillars: Respiratory & Immunology, Oncology, HIV, and Infectious Diseases. [21]
Key elements:
- Arexvy (RSV vaccine)
Already a key contributor with £0.3bn quarterly sales in Q3, Arexvy is being pushed into broader age groups. GSK is seeking EU approval to extend use to adults 18+, not just those over 60 or at special risk, with a decision expected in H1 2026. [22]
That expansion is important after an earlier 57% year‑on‑year decline in Q1 2025 Arexvy sales, driven by tighter U.S. recommendations and saturation of early adopters. [23] - Oncology – Jemperli, Blenrep and partners
Oncology sales rose 39–53% across recent quarters, driven by Jemperli (dostarlimab) in endometrial cancer and expanding indications, and by Ojjaara/Omjjara (momelotinib) in myelofibrosis. [24]
The ASH data package on belantamab mafodotin (Blenrep) aims to solidify its role in relapsed or refractory multiple myeloma and support broader regulatory approvals. [25] - Infectious diseases and vaccines
GSK’s pipeline document lists multiple Phase III and registration‑stage vaccines, including Blujepa (gepotidacin) for complicated urinary tract infections and gonorrhoea, extensions to Bexsero (meningitis B) and next‑generation pneumococcal and flu mRNA programmes. [26] - Strategic collaborations
In 2025 GSK announced large R&D collaborations such as a multi‑billion‑dollar alliance with China’s Jiangsu Hengrui around respiratory and oncology candidates, and earlier‑stage immuno‑oncology partnerships (e.g. LTZ Therapeutics), designed to deepen the pipeline without over‑stretching internal R&D. TS2 Tech+1
In short, the growth narrative increasingly rests on specialty medicines and innovative vaccines, rather than legacy primary‑care drugs.
Dividends and Buybacks: GSK as an Income Stock
For income‑focused investors, GSK remains one of the more prominent FTSE 100 dividend names.
- GSK has guided to a total dividend of 64p per share for 2025, with 16p already declared for each of the first three quarters. [27]
- At a London share price around 1,830p, that implies a forward dividend yield of roughly 3.5%.
- Morningstar lists GSK among its “Top FTSE 100 dividend‑paying stocks”, highlighting the 64p payout and the £2bn buyback as dual support for shareholder returns. [28]
On the ADR side, the current annualised dividend is about $1.67 per ADR, again translating to a yield near 3.5% at recent prices. [29]
GSK also features in several 2025 “best dividend stocks” round‑ups:
- Morningstar’s “3 Dividend Stocks for November 2025” list, alongside Diageo and Kimberly‑Clark, and
- Insider Monkey’s “11 Best FTSE Dividend Stocks to Buy Right Now”, which places GSK ninth with a dividend yield around 3.56% as of late October. [30]
Combined with the accelerated buyback programme – already well underway – GSK currently looks like a classic total‑return story: mid‑single‑digit dividend yield plus potential earnings‑driven capital gains.
Analyst Views and GSK Stock Forecasts
Analyst sentiment on GSK in December 2025 is cautiously constructive but far from euphoric.
Consensus Ratings
- On the NYSE ADR, MarketBeat data show a consensus rating of “Hold” from seven analysts:
- 2 Buy, 4 Hold, 1 Sell,
- With an average 12‑month price target of about $44.13, notably below the current ~$48 share price. [31]
- For the London listing, a MarketBeat technical note summarises that:
- Jefferies and Shore Capital now have “buy” ratings with targets around 2,000–2,100p,
- JPMorgan remains “underweight” with targets around 1,400–1,500p, and
- Berenberg is at 1,660p with a “hold”.
MarketBeat calculates an average London target of 1,762p and an overall “Hold” stance. [32]
- GuruFocus, aggregating nine analysts, similarly reports an average one‑year target of $42.63 (range $33.54–$56.23), implying modest downside from current levels, and labels the consensus recommendation as “Hold” (2.6 on a 1–5 scale). [33]
Valuation‑Driven Bulls
Not all observers are neutral. A number of valuation‑focused research houses continue to argue that GSK is undervalued relative to its pipeline:
- Morningstar has previously assigned GSK a 5‑star rating and a fair value estimate of 2,200p per local share and $58 per ADR, implying meaningful upside from current levels. [34]
- Morningstar also grouped GSK with Pfizer and Omnicom in a 2025 piece on “undervalued dividend stocks with significant non‑US revenue exposure”, underscoring the appeal of its global earnings base for diversification. [35]
Growth‑Style Metrics
Zacks has recently highlighted GSK as a “strong growth stock”, assigning it a Growth Style Score of B. The firm notes:
- Consensus forecasts point to around 10–11% year‑on‑year earnings growth,
- The 2025 EPS consensus has been revised upward over the last two months to approximately $4.49 per ADR, and
- GSK has delivered an average earnings surprise of roughly +10% over recent quarters. [36]
That combination – solid earnings momentum plus a mid‑teens earnings multiple and a 3.5% dividend – is what’s pulling in investors looking for “growth at a reasonable price” rather than speculative biotech‑style upside.
Third‑Party Forecast Ranges
Capital.com’s August 2025 review of third‑party GSK price targets underscores just how wide the range of opinions is:
- TipRanks’ sample of 14 London‑based analysts produced an average 12‑month target of 1,577p, with a range from 1,290p to 2,170p.
- TradingView’s composite of 17 analysts pointed to an average of 1,612.5p, with a stretch from 1,120p up to 2,520p, and a “neutral” consensus. [37]
Algorithmic and “AI‑driven” forecasts quoted in the same article often project modest downside for the ADR over the late 2020s, underlining the uncertainty baked into long‑term models. [38]
In short, short‑ to medium‑term analyst expectations cluster around flat‑to‑modest downside from today’s levels, while valuation‑focused houses and some buy‑side investors see more substantial upside if GSK hits its long‑term sales and EPS targets.
Zantac, Litigation and Risk Overhang
For much of the past few years, GSK’s share price has been overshadowed by litigation over the heartburn drug Zantac (ranitidine).
That overhang has now eased materially:
- In October 2024, GSK agreed to pay up to $2.2 billion to resolve around 80,000 U.S. Zantac lawsuits, including the vast majority of state‑court claims, booking an incremental £1.8bn charge in its Q3 2024 results. [39]
- In July 2025, the Delaware Supreme Court reversed an earlier trial‑court decision and excluded plaintiffs’ expert testimony on Zantac and cancer, ruling that the methodologies were scientifically unreliable. That decision significantly weakened the remaining mass‑tort cases in a key jurisdiction. [40]
Specialist legal and investor commentary now generally views Zantac as a manageable tail risk rather than a thesis‑defining threat, even though some residual cases and co‑defendant litigation remain. [41]
Leadership Transition: Luke Miels Takes Over in 2026
A big structural change is coming at the top of GSK.
In September 2025, GSK announced that CEO Emma Walmsley will step down after nine years, with Chief Commercial Officer Luke Miels becoming CEO on 1 January 2026. [42]
Key points:
- Reuters reports that Miels will be charged with delivering GSK’s long‑term target of over £40 billion in annual sales by 2031, up from analyst estimates of about £34 billion today. [43]
- On the day of the announcement, GSK’s shares rose around 3.5%, indicating that markets broadly welcomed the succession plan. [44]
- Walmsley leaves behind a company with stronger specialty medicines, a cleaner balance sheet post‑Zantac provisioning, but also a tougher vaccine environment and looming patent expiries (notably for HIV drug dolutegravir in 2028). [45]
Miels’ challenge will be to turn today’s pipeline into tomorrow’s high‑margin franchises while steering through pricing reforms, tariffs, and persistent vaccine scepticism.
Key Risks for GSK Shareholders
Despite the strong 2025 run, several risks remain front‑of‑mind for investors:
- Vaccine demand volatility – RSV and shingles vaccines have already shown how quickly demand can swing with changing public‑health recommendations, especially in the U.S. [46]
- Patent cliffs – Core HIV and respiratory assets face generic and biosimilar competition later this decade, increasing reliance on new launches like Jemperli, Blenrep, Blujepa and next‑gen vaccines. [47]
- Leverage and capital allocation – Net debt remains meaningful, and MarketBeat data show a debt‑to‑equity ratio above 1.0. Management must balance buybacks and dividends with sustained R&D investment and potential bolt‑on M&A. [48]
- Regulatory and legal uncertainty – While Zantac risk has eased, future pricing reforms, tariff changes and evolving liability standards can influence profitability, particularly in the U.S. [49]
None of these are unusual for a large pharma group, but they shape the risk/reward profile at today’s valuation.
Bottom Line: How Does GSK Stock Look After the 2025 Rally?
By early December 2025, GSK offers an unusual mix for investors:
- A share price near all‑time or multi‑year highs,
- A mid‑single‑digit dividend yield plus a sizeable ongoing buyback,
- Upgraded 2025 sales and EPS guidance,
- A broad and advancing pipeline, especially in oncology, HIV and RSV, and
- A leadership transition to a CEO whose background is firmly commercial and product‑focused.
Against that, the stock already prices in a good chunk of the near‑term improvement: most sell‑side price targets sit below or only slightly above the current price, even though some valuation‑driven analysts argue for materially higher fair values. [50]
For long‑term investors, the core question into 2026 is whether GSK can convert today’s pipeline and specialty‑medicine momentum into durable double‑digit earnings growth – enough to justify, or even expand, the current multiple.
References
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