GlaxoSmithKline Pharmaceuticals Limited — Investor Meet, 10-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

GSK Pharma's Q2 FY26 sales declined 2.6% to 974 Cr, impacted by a CMO fire (40 Cr) and GST transition. Despite this, EBITDA improved 250 bps to 34.4%, with EPS up 3%. Specialty and vaccine segments delivered double-digit growth. Management confirmed supply issues from the CMO fire are resolved for Q3. The company launched its Oncology business (Jemperli, Zejula) on August 15th, which is already contributing and is expected to drive future growth. Management reiterated its double-digit growth aspiration and commitment to sustainable EBITDA margins, driven by expanding gross margins and cost consciousness. The outlook remains confident on recovery and sustained profitability.