The British pharmaceutical company GSK managed to offset weaknesses in its vaccine business last year, thanks to robust growth in its HIV and cancer drug divisions. In 2024, the company’s adjusted operating profit rose by 4% to £9.15 billion (approximately €11 billion), GSK announced on Wednesday. Revenue climbed by 3% to £31.78 billion, with a constant currency growth of 7%.

Specialty medicines performed particularly well, with sales increasing by 19% in 2024. The HIV division saw a 13% rise in revenue, while cancer drug sales almost doubled, surging by 98%. In contrast, the vaccine segment experienced a 4% decline. Although Shingrix, the blockbuster vaccine for shingles, recorded modest growth, sales of the RSV vaccine Arexvy plummeted by 51%. In the final quarter of 2024, GSK posted an adjusted earnings per share of 23.2 pence on revenue of £8.12 billion, surpassing analyst expectations, which had projected 19 pence per share and £7.75 billion in revenue.

Novo Nordisk Expects Slower Growth in 2025

Danish pharmaceutical giant Novo Nordisk is forecasting slower growth in the coming year. The company, known for its weight-loss injection Wegovy and diabetes treatment Ozempic, expects its 2025 revenue to increase between 16% and 24%. This marks a slowdown from the 26% growth recorded in 2024. Operating profit is projected to grow between 19% and 27%, following a 26% rise in the previous year.

Analysts have long speculated that rising competition in the weight-loss drug market could impact Novo Nordisk’s dominance. Additionally, concerns persist over a potential decline in demand for these medications in the United States. Between October and December 2024, the company’s operating profit jumped 37% to 36.7 billion Danish kroner (€4.92 billion), exceeding analyst estimates of 33.6 billion kroner.

IT Services Firm Bechtle Reports Decline in Revenue and Profit

German IT service provider Bechtle experienced a decline in revenue and profit in 2024. However, the Neckarsulm-based company described the year-end as “reassuring” due to improved business performance in December. Annual revenue fell by 2% to approximately €6.3 billion, while pre-tax earnings dropped by 8% to €345 million. As a result, Bechtle’s pre-tax operating margin decreased to 5.5%, down from 5.8% in 2023.

Despite the downturn, the company’s total business volume grew by 2% to around €8 billion, driven by strong software sales. However, this growth was not fully reflected in revenue figures. Bechtle had already withdrawn its full-year forecast in October, making the drop in revenue and profit expected. In the fourth quarter, business volume increased by 4%, but revenue declined by 5%. Pre-tax earnings also fell by 6% during this period.