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Emma Walmsley's departure as CEO of GSK at the end of the year will be the end of an era", says Derren Nathan, head of equity research at Hargreaves Lansdown.
Nathan explains:
The first ever female CEO of a major pharmaceutical company, Dame Emma Walmsley, is set to hand over GSK's reins on New Year's Day 2026. One of her key achievements was the demerger of Haleon, the company behind consumer health brands such as Beechams. That not just strengthened GSK's balance sheet but also sharpened the group's focus on speciality medicines and vaccines. There's an exciting pipeline ahead and, this year alone, GSK's on track for five major regulatory approvals. Her reign also saw a line drawn in the sand in the Zantac litigation case, removing a key financial uncertainty.
Although her record of delivering on financial guidance has been strong, the company's growth rates remain stuck in single digit territory. There's a $40bn sales target in place for 2031, but analyst forecasts suggest some doubts still linger. It will be down to the leadership of CEO designate Luke Miels to convince the market.
He's been handed a business in good shape and, if he can deliver on this goal, shareholders stand to be well rewarded. The market's backing him for now, with a 3.5% share price increase this morning, but there's a long road ahead. As Emma Walmsley's relationship with the City has shown, it can be a demanding audience."
AstraZeneca is stepping onto Wall Street with a new US share listing, giving the company more visibility in the world's largest healthcare market while keeping its London home. The move is aimed to attract a wider base of investors as Astra pursues strong growth over the next decade. By broadening its investor reach in the US, Astra is looking to secure the capital and visibility needed to fund its next wave of medicines and hit its long-term sales targets.
Importantly, this dual listing isn't about shifting away from London but securing a truly global platform. Backed by a blockbuster cancer portfolio and a pipeline of promising new treatments, we think AstraZeneca is well positioned for steady earnings growth. With sights set on reaching $80bn in sales by 2030, the US listing strengthens its ability to deliver for both patients and shareholders."
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