01 | |
02 | |
04 | |
06 | |
08 | |
Performance: Vaccines | |
Performance: Specialty Medicines | |
Performance: General Medicines | |
Operations: Manufacturing and supply | |
2023 principal risks summary | |
Climate-related financial disclosures | |
Nature-related financial disclosures | |
Non-financial and sustainability information statement | |
Employees by gender | |
Viability statement | |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 |
AER 3% CER 5% |
l | Vaccines |
l | Specialty Medicines |
£10.2bn AER (9)% CER (8)% | |
l | General Medicines |
AER 5% CER 10% | AER 8%1 CER 12%1 |
AER 10% CER 16% | AER 11%2 CER 16%2 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
in the pharmaceuticals industry in the S&P Global Corporate Sustainability Assessment, with a score of 84 (as of 24 November 2023) | Global Health pipeline assets progressed to address priority World Health Organization (WHO) diseases | reduction in operational carbon emissions (Scope 1 and 2) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
GSK people | countries worldwide | suppliers working directly with GSK | ||
R&D investment in 2023 – up 13% AER, 14% CER1 | manufacturing sites | global R&D centres in the US, UK, Belgium and Italy |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
packs of medicines and doses of vaccines delivered | per share dividend |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Why is prevention important? | ||
Health systems are stretched and health needs are evolving as demographics and disease patterns change. | ||
premature deaths among people under 75 could have been avoided through better prevention and healthcare interventions across OECD countries in 2019. This amounts to over a quarter of all deaths. (source: OECD) | ||
loss in productivity each year in the G20 from preventable conditions among people aged 50-64. (source: ilcuk) | ||
In the US alone, health spending is projected to reach almost $7 trillion by 2030. (source: CMS) | ||
Prevention and earlier intervention offer a solution to these challenges, helping to improve people's health outcomes – and bring benefits to health systems and economies. | ||
could be added to global GDP by 2040 by improving health. Around half of the annual economic benefits would come from a larger and healthier workforce. (source: McKinsey) |
Preventing and changing the course of disease is at the heart of what we mean by getting ahead of disease together. By harnessing our science and technology, we have an | opportunity to prevent disease in the first place, as well as change the course of a disease – helping to prevent or slow progression of an illness and limit long-term complications. | |||
Prevention is a focus across our pipeline and portfolio including: | ||||
Vaccines We’ve built one of the broadest vaccine portfolios in the industry to help protect people at all stages of life, from childhood to older age. With our wide range of vaccine technologies like MAPS, mRNA and adjuvants, we can take a targeted approach, allowing us to develop tailored vaccines for different diseases and individuals – see page 18. | ||||
HIV For decades, we’ve transformed the lives of people living with HIV by making breakthroughs in treatment and prevention. We’re focusing research on novel treatment options that allow people living with HIV to take fewer drugs or take them much less often, and we’ve also developed a long-acting regimen that can prevent HIV – see page 22. | ||||
Severe asthma Our decades of experience in respiratory care have led us to create treatments that could bring patients closer than ever before to remission for severe asthma. This could free them from exacerbations (attacks) that cause cumulative lung damage and could potentially avoid hospitalisation – removing the need for oral corticosteroids, stabilising lung function and controlling symptoms – see page 23. | ||||
Hepatitis B Using the latest AI/ML techniques, our scientists have identified biomarkers to help work out which treatment combinations fit which patients. This potentially increases the likelihood of achieving 'functional cure' – when the virus is no longer present in the blood, and liver functions have normalised, stopping any future damage – see page 19. | ||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Research and development | We combine the science of the immune system with technology and outstanding talent to find new ways to prevent and treat the most challenging diseases, better and faster. |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 |
– Arexvy, the world’s first RSV vaccine for older adults, approved in the US, EU and Japan – Apretude, long-acting preventative treatment for HIV, approved as the first and only HIV prevention option in Europe – Ojjaara/Omjjara approved in the US, EU and UK as the first and only treatment for both newly diagnosed and previously treated myelofibrosis patients with anaemia – Jemperli approved in the US, EU and UK as the only frontline immuno-oncology treatment, in combination with chemotherapy, for patients with dMMR/MSI-H primary advanced or recurrent endometrial cancer | – Shingrix vaccine for shingles approved for people at risk over 18 in Japan and positive data from first efficacy trial in adults aged 50 and over in China – Positive phase III data for our MenABCWY vaccine candidate, supporting filing in 2024 – US FDA Fast-Track designation for gonorrhoea vaccine candidate – Targeted business development including acquisition of Bellus Health and Aiolos Bio1 (respiratory), licence agreements with Janssen (infectious diseases) and Hansoh Pharma (oncology) | |||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Commercial operations | In 2023 we delivered strong and sustained performance momentum, with successful commercial launches, supported by our integrated global supply chain. |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | l | l |
l | l | l |
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l | ||
l | ||
l | ||
l | ||
l | ||
l |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Double-digit growth for Vaccines |
Successful launch of Arexvy in the US |
Continued strong uptake of Shingrix in International and Europe |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
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l | ||
l | ||
l | ||
l |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Specialty Medicines growth (excluding COVID-19 solutions) of 14% AER, 15% CER |
Continued growth momentum in HIV |
Growth acceleration in both oncology and respiratory/immunology |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | ||
l |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Growth driven by both respiratory and other general medicines |
Ongoing strong demand for Trelegy in all regions; Anoro in Europe and International |
Continued post pandemic recovery of the antibiotic market in Europe and International regions |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Responsible business | ESG is embedded in our strategy. It helps us deliver our purpose and supports our sustainable performance and long-term growth. |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
The external risk environment remains stable. Our pharmacovigilance function, like those across the industry, contends with a challenging legal and regulatory environment. Even with an optimised, state-of-the-art pharmacovigilance system we cannot predict all issues impacting safety and efficacy that could potentially result in regulatory action and/or litigation. This is particularly true of issues not based on robust scientific evidence of the ongoing benefit/risk assessment for our products. | ||
Our internal risk environment remains stable in 2023. We continue to focus on ensuring an optimised benefit/risk profile for all vaccines and medicines through appropriate safety expertise and oversight. We successfully completed a significant transition to a simplified third-party support model for global pharmacovigilance operational activities. | ||
The external risk environment is stable, yet remains high. In May 2023, regulatory agencies ended their emergency COVID-19 measures and resumed on-site inspections of our sites (both planned and unannounced) to make sure they meet product quality expectations. Increased nationalism following the pandemic has driven a broader spectrum of regulatory requirements. This continues to rapidly evolve with new pharmaceutical, chemical and environmental expectations for our products. The focus on data governance and data integrity remains. The application of AI/ML to improve manufacturing and quality is in its infancy, with uncertainty about how this will be regulated in the GxP arena. The US FDA is working with industry to understand its application and develop guidance. | ||
Our risk exposure remains stable. Our ongoing inspection readiness programme ensures preparedness for regulatory authority inspections. We continue to invest in technology to strengthen our data management controls and modernise our quality processes. We are proactive in anticipating regulatory expectations and continue to work at an industry level to refine quality standards and build new competencies to assure product quality. | ||
↑ External | The external risk environment is increasing. The wide-ranging regulatory environment remains challenging, due to uncertainty, volatility and sometimes conflicting requirements, influencing the ability to determine exact requirements in each market. Government agencies, and notably the US, are increasingly looking to use competition law to tackle perceived issues with access to medicine, pricing and acquisitions. Governments are continuing to enforce anti-corruption laws and regulations, including a nationwide one-year campaign to fight corruption in healthcare in China. Sanctions continue to be complex in the current geopolitical environment, particularly those concerning Russia. | |
Our risk exposure is stable due to robust internal systems, processes and monitoring to ensure proactive and timely response to changes by adapting our internal controls, which are designed to accommodate external regulatory fluctuations and changing risks. | ||
The external risk environment remains challenging due to political uncertainty, proposed increases in the obligations of directors and auditors, increasing threats of cyber attacks and fraud, and increasing disclosure requirements including ESG and non-financial information. | ||
Our risk exposure remains stable due to our ongoing focus on the resilience of personnel and the testing of our internal control framework. We implement optimal risk mitigation through transformational programmes, technology, centralised processes, and risk and control assessments, and maintain effective tax and treasury strategies. We continually strengthen our control frameworks and collaborate with external bodies on setting standards. | ||
The external risk environment is stable. Governments remain focused on initiatives to drive down medicine and vaccine costs for consumers. The passing of the US Inflation Reduction Act (IRA) of 2022 introduces new Medicare inflation-based drug rebates and a drug pricing negotiation programme which could have an overall negative effect on us. Also, macroeconomic factors such as inflationary pressure contribute to a challenging environment for all stakeholders. Competitive pressure remains intense across therapy areas and market segments. | ||
Our risk exposure remains stable. We have a mature and robust control environment that has evolved to match the competitive enhancements to our commercial and digital practices, including significantly higher volumes of engagement with healthcare professionals. This has been supported by embedding an end-to-end speaker engagement system, eliminating zero-value contracts, enhanced case study training on the medical commercial interface, implementing a new tenders procedure, and implementing enhanced interactive digital media channel oversight. | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
The external risk environment is changing. The diversity of engagement platforms continues to increase, while digital health technologies and generative AI advance rapidly. Also, the environment continues to be characterised by complex, dynamic disease areas and treatments with increased volume of patient-centric activities during all phases of the product lifecycle. | ||
Our risk exposure remains stable. We continue to build innovative digital capability and improve our engagement practices and internal controls to mitigate risk in the rapidly evolving environment. We use data and systems to monitor for emerging risks associated with scientific and patient engagement activities. | ||
The external risk environment continues to increase as the global landscape of data protection, privacy and cyber laws develops. Given that the current pace of technology-focused innovation is expected to continue, companies need to be mindful of relevant potential legislation and regulations. The increasing trend for data sovereignty could affect healthcare companies in their ability to drive medical innovation and operate internationally. Global regulators (such as the EU, UK, US and China) are also introducing legislation around the use of AI and ML which is closely aligned with privacy regulations. These regulations will play a key role in safeguarding privacy by ensuring responsible data usage, transparency and ethical use of data, while preventing biases and managing international data flows. | ||
Our internal risk exposure is increasing given our focus on data in an uncertain external environment. Our data ethics and privacy operating model has been transformed to make sure it is flexible enough to adapt to emerging privacy laws in the US, EU, UK, China and India, including addressing restrictions imposed by regulators in relation to international data transfer mechanisms. We have focused on simplifying of principles and processes, while allowing flexibility around the deployment of our model in different territories and business functions. | ||
The external risk environment is increasing as technology-focused innovation accelerates the discovery and development of medicines and vaccines. Advances in technology, expanded use of data and digital footprints, more sophisticated cyber security threats, the rising trend for data sovereignty and developing global landscape of quality standards, data protection, privacy and cyber laws, and new entrants to the sector continue to influence the environment. Companies should consider the relevant emerging legislation and regulations and impact on their ability to drive innovation and operate internationally. | ||
Our risk exposure is increasing as we adopt new technologies and scale our adoption of AI in the discovery and development of medicines and vaccines. We continue to adapt our internal business processes to enable innovation and to meet ethical, societal and regulatory expectations. | ||
The external risk environment remains stable. There are currently no external EHS risk factors that reduce our ability to discover and manufacture our vaccines and medicines safely. | ||
Our risk exposure remains stable. We've continued safety leadership training, embedding our Life Saving Rules, and adhering to our EHS standards. We have initiated a Contractor Safety programme that will deliver improvements to reduce the risk profile associated with using contractors across all business units and are strengthening our driver safety programmes. | ||
External risk continues to rise as digital footprints increase and threats from cyber security become more sophisticated, including threat actors having access to more sophisticated AI capabilities. Continued geopolitical conflicts have also increased cyber security risk to large corporations. | ||
Our risk exposure continues to increase as we adopt new technologies and scale our adoption of AI across GSK. We remain on track to deliver our multi-year Cyber Maturity Programme (CMP) and other risk mitigation programmes including China, High Risk Jurisdiction, and processes and accountabilities for data management, to improve our controls and governance to identify, protect, detect, respond to, and recover from cyber security incidents. | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
The external risk environment remains stable. In 2023, there have been cyber attacks on two of our third-party logistics providers, which has tested our business continuity planning. The constraints seen on sourcing bioscience materials in 2022 has abated, however a new constraint is emerging on third-party sterile manufacturing capacity, which increases competition for contract manufacturing operations. Extreme weather events continue to present challenges across the industry for facilities worldwide. | ||
Our risk exposure remains stable, maintained through a combination of well-defined supply chain management processes, clear escalation pathways to ensure supply continuity and clear succession plans in place for critical supply chain roles. Our Supply Chain 2030 initiative and the integration of the Medicines and Vaccines supply chains into one organisation demonstrate our commitment to evolving our technology platforms and product portfolio without affecting supply continuity, which remains consistently high. | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Current trajectory | Medium (£100M- £250M)/ long term (> 10 years) | |||||||
Breach of planetary boundaries | Medium (£100M- £250M)/ long term (> 10 years) | |||||||
Current trajectory scenario | Medium (£100M- £250M)/ long term (> 10 years) | |||||||
Breach of planetary boundaries scenario | Medium (£100M- £250M)/ long term (> 10 years) | |||||||
We are investing in a R&D programme and a large manufacturing site upgrade project to redevelop our Ventolin (salbutamol) inhaler by transitioning to a lower-carbon propellant that could potentially reduce its carbon emissions by up to 90%, if the clinical trials are successful. We already have a portfolio of Dry Powder Inhaler products that do not use propellants that are not affected by this risk. The financial impact assumes the reformulated product is approved by regulators and launched according to plan. | Current trajectory scenario | High (> £250M)/ medium term (3-10 years) | ||||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Net zero | Medium (£100M-£250M) /medium (3-10 years) and long term (> 10 years) | |||||||
Low-carbon | Medium (£100M-£250M) /medium term (3-10 year) falling to low (< £100M)/long term (> 10 years) | |||||||
Current trajectory | Low (< £100M)/ in the medium term (3-10 years) and long term (> 10 years) | |||||||
Lower-than- anticipated growth scenario | Low (<£100M) / medium term (3-10 years) | |||||||
Natural catastrophe scenario | Medium (£100M -£250M)/ medium term (3-10 years) | |||||||
Net zero | Low (< £100M)/ Long term (> 10 years) | |||||||
Low carbon | ||||||||
Current trajectory | ||||||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
We have considered the key metrics following the TCFD guidance of Tables A1.1 and A1.2 as well as the metrics consistent with cross-industry, climate-related metrics. Based on that, our strategic metrics are: – Scope 1 & 2 emissions (market-based and location-based approach), described in the table below – Scope 3 emissions, described in the table below – % renewably sourced electricity, described in the table below – Total supplied water, described in the table below – Total waste and materials, described in the table below – Sites that have achieved water stewardship, described in the table below Our ESG Performance Report includes more metrics used to support the strategic metrics listed above. | |
In energy and carbon emissions, see table below: – Scope 1 emissions from energy – Scope 1 emissions from other sources – Scope 2 emissions (market-based) – Scope 2 emissions (location-based) – Scope 3 emissions metrics – Scope 1 & 2 emissions intensity metrics Prioritised physical and transition risks are included in the Risk Table above. | |
Our targets (measured against a 2020 baseline where applicable) are: – 80% absolute reduction in greenhouse gas emissions from a 2020 baseline, across all scopes, and investment in nature-based solutions for the remaining 20% of our footprint by 2030 – Net zero greenhouse gas emissions across our full value chain by 2045: 90% absolute reduction in emissions from a 2020 baseline, across all scopes, and all residual emissions neutralised – 100% renewable electricity by 2025 (Scope 2) – Achieve good water stewardship at 100% of our sites by 2025 – Reduce overall water use in our operations by 20% in 2030 – Zero operational waste1, including eliminating single use plastics2 by 2030 – Be water neutral in our own operations and at key suppliers in water-stressed regions by 2030 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | 2021 | |
301 | 320 | 333 | |
279 | 306 | 300 | |
64 | 88 | 131 | |
240 | 265 | 285 | |
– | 8,995 | 8,624 | |
102 | 111 | 126 |
2023 | 2022 | 2021 | |
12.0 | 13.9 | 18.8 | |
5.2 | 5.9 | 6.5 | |
2,636 | 2,759 | 2,871 | |
711 | 735 | 807 | |
83% | 73% | 63% | |
7.4 | 7.5 | 7.9 | |
0.3 | 0.3 | 0.3 | |
49.7 | 50.2 | 55. | |
100% | 100% | 100% |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Key performance indicator | |
Average of the percentage of GSK sites and suppliers compliant with wastewater active pharmaceutical ingredient limits and the percentage of suppliers that are compliant with the AMR Industry Alliance Common Antibiotic Manufacturing Framework and discharge limits | |
The percentage of paper and palm oil that is deforestation free | |
The reduction in routine operational hazardous and non-hazardous waste |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Target | |
– 100% of our sites to achieve good water stewardship by 2025 and reduce overall water use by 20% by 2030 – Water neutral in operations and with key suppliers in water-stressed regions by 2030 – Zero impact active pharmaceutical ingredient levels1 for all our sites and key suppliers by 20302 | |
– Positive impact on biodiversity at all sites3 by 2030 – 100% of agricultural and forestry derived materials sustainably sourced and deforestation free by 20302,4 | |
– 100% of marine-derived materials sustainably sourced by 2030 | |
– 100% renewable electricity by 2025 (Scope 2)2 – 80% reduction in carbon emissions across our full value chain by 20302 – Net zero carbon emissions across our full value chain by 20452 | |
– Zero operational waste5 10, including eliminating single use plastics6 by 20302 – 10% waste reduction from supply chain by 2030 – 25% environmental impact reduction for our products and packaging by 2030 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Male | Female | Total | |
7 | 5 | 12 | |
8,682 | 8,788 | 17,470 | |
36,510 | 33,702 | 70,212 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
78 | |
81 | |
82 | |
86 | |
93 | |
97 | |
98 | |
103 | |
104 | |
105 |
GSK Annual Report 2023 | ||||||||
Full year 2023 £m | Growth AER % | Growth CER % | Full year 2022 £m | Full year 2021 £m | |
30,328 | 3 | 5 | 29,324 | 24,696 | |
30,134 | 12 | 14 | 26,951 | 23,291 | |
6,745 | 5 | 10 | 6,433 | 4,357 | |
22.2% | 0.3ppts | 1.0ppts | 21.9% | 17.6% | |
121.6p | 10 | 16 | 110.8p | 82.9p | |
8,786 | 8 | 12 | 8,151 | 6,493 | |
29.0% | 1.2ppts | 1.8ppts | 27.8% | 26.3% | |
155.1p | 11 | 16 | 139.7p | 110.3p | |
8,096 | 2 | 7,944 | 7,249 | ||
3,409 | 2 | 3,348 | 3,301 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | Growth | ||||
£m | % of turnover | £m | % of turnover | £% | CER% | |
30,328 | 100 | 29,324 | 100 | 3 | 5 | |
(8,565) | (28.2) | (9,554) | (32.6) | (10) | (10) | |
21,763 | 71.8 | 19,770 | 67.4 | 10 | 13 | |
(9,385) | (30.9) | (8,372) | (28.6) | 12 | 14 | |
(6,223) | (20.5) | (5,488) | (18.7) | 13 | 14 | |
953 | 3.1 | 758 | 2.6 | 26 | 26 | |
(363) | (1.3) | (235) | (0.8) | |||
6,745 | 22.2 | 6,433 | 21.9 | 5 | 10 | |
(677) | (803) | |||||
(5) | (2) | |||||
1 | – | |||||
6,064 | 5,628 | 8 | 14 | |||
(756) | (707) | |||||
5,308 | 4,921 | 8 | 14 | |||
– | 3,049 | |||||
– | 7,651 | |||||
– | 10,700 | (100) | (100) | |||
5,308 | 15,621 | |||||
380 | 460 | |||||
4,928 | 4,461 | |||||
– | 205 | |||||
– | 10,495 | |||||
5,308 | 15,621 | (66) | (64) | |||
380 | 665 | |||||
4,928 | 14,956 | |||||
5,308 | 15,621 | (66) | (64) | |||
121.6p | 110.8p | 10 | 16 | |||
– | 260.6p | (100) | (100) | |||
121.6p | 371.4p | (67) | (65) | |||
2.75 | ||||||
– | 6.46 | |||||
9.21 |
2023 | 2022 | Growth | ||||
£m | % of turnover | £m | % of turnover | £% | CER% | |
30,328 | 100 | 29,324 | 100 | 3 | 5 | |
(7,716) | (25.4) | (8,741) | (29.8) | (12) | (11) | |
(9,029) | (29.8) | (8,128) | (27.7) | 11 | 13 | |
(5,750) | (19.0) | (5,062) | (17.3) | 14 | 14 | |
953 | 3.2 | 758 | 2.6 | 26 | 26 | |
8,786 | 29.0 | 8,151 | 27.8 | 8 | 12 | |
572 | 595 | |||||
6,283 | 5,625 | |||||
6,855 | 6,220 | 10 | 15 | |||
155.1p | 139.7p | 11 | 16 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
6,745 | 6,433 | 4,357 | |
719 | 739 | 761 | |
398 | 296 | 347 | |
382 | 321 | 424 | |
572 | 1,750 | 1,143 | |
(30) | (1,388) | (539) | |
8,786 | 8,151 | 6,493 |
934 | 1,431 | 1,026 | |
(245) | 85 | 48 | |
(187) | 193 | 27 | |
44 | 17 | – | |
26 | 24 | 42 | |
572 | 1,750 | 1,143 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
5,890 | 5,559 | |
934 | 1,431 | |
(1,106) | (1,031) | |
– | (69) | |
5,718 | 5,890 |
2023 £m | 2022 £m | |
848 | 1,093 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | Vaccines |
l | Speciality Medicines |
l | General Medicines |
l | US |
l | Europe |
l | International |
£9.9bn | ||
32% of Group turnover |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
3,446 | 2,958 | 16 | 17 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
1,260 | 1,116 | 13 | 14 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
1,238 | – | – | – |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
504 | 714 | (29) | (29) |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
3,266 | 3,085 | 6 | 7 |
£10.2bn | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
6,444 | 5,749 | 12 | 13 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
3,337 | 2,392 | 40 | 40 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
3,025 | 2,609 | 16 | 18 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
1,655 | 1,423 | 16 | 18 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
1,349 | 1,146 | 18 | 19 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
731 | 602 | 21 | 23 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
523 | 463 | 13 | 15 |
£10.2bn | ||
34% of Group turnover |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
6,825 | 6,548 | 4 | 6 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
2,202 | 1,729 | 27 | 29 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
1,139 | 1,159 | (2) | 1 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
3,395 | 3,570 | (5) | 2 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
15,820 | 14,542 | 9 | 9 | |
15,810 | 13,714 | 15 | 16 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
6,564 | 6,348 | 3 | 2 | |
6,431 | 5,835 | 10 | 8 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
7,944 | 8,434 | (6) | 1 | |
7,893 | 7,402 | 7 | 15 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
(8,565) | (9,554) | (10) | (10) | |
28.2% | 32.6% | (4.3) | (4.6) | |
(7,716) | (8,741) | (12) | (11) | |
25.4% | 29.8% | (4.4) | (4.6) |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
(9,385) | (8,372) | 12 | 14 | |
30.9% | 28.6% | 2.4 | 2.3 | |
(9,029) | (8,128) | 11 | 13 | |
29.8% | 27.7% | 2.1 | 1.9 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
(6,223) | (5,488) | 13 | 14 | |
20.5% | 18.7% | 1.8 | 1.5 | |
(5,750) | (5,062) | 14 | 14 | |
19.0% | 17.3% | 1.7 | 1.4 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
953 | 758 | 26 | 26 | |
953 | 758 | 26 | 26 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
(363) | (235) | (54) | (54) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | Growth £% | Growth CER% | |
6,745 | 6,433 | 5 | 10 | |
22.2% | 21.9% | 0.3 | 1.0 | |
8,786 | 8,151 | 8 | 12 | |
29.0% | 27.8% | 1.2 | 1.8 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
14,656 | 13,590 | 8 | 10 | |
48.3% | 46.3% | 2.0 | 2.1 | |
(5,607) | (5,060) | 11 | 11 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
677 | 803 | (16) | (15) | |
669 | 791 | (15) | (15) |
2023 £m | 2022 £m | |
207 | 200 | |
1,371 | 1,351 | |
43 | (60) | |
1,621 | 1,491 | |
(865) | (784) | |
756 | 707 |
2023 £m | 2022 £m | Growth £% | Growth CER% | |
380 | 460 | (17) | (17) | |
572 | 595 | (4) | (4) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £p | Growth £% | Growth CER% | |
121.6p | 110.8p | 10 | 16 | |
155.1p | 139.7p | 11 | 16 |
2023 £m/£p | 2022 £m/£p | Growth £% | Growth CER% | |
30,328 | 29,324 | 3 | 5 | |
121.6p | 110.8p | 10 | 16 | |
155.1p | 139.7p | 11 | 16 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total results £m | Intangible asset amortisation £m | Intangible asset impairment £m | Major restructuring £m | Transaction- related £m | Divestments, significant legal and other items £m | Adjusted results £m | |
30,328 | 30,328 | ||||||
(8,565) | 647 | 164 | 13 | 25 | (7,716) | ||
21,763 | 647 | 164 | 13 | 25 | 22,612 | ||
(9,385) | 216 | 13 | 127 | (9,029) | |||
(6,223) | 72 | 398 | 2 | 1 | (5,750) | ||
953 | 953 | ||||||
(363) | 546 | (183) | – | ||||
6,745 | 719 | 398 | 382 | 572 | (30) | 8,786 | |
(677) | 1 | 7 | (669) | ||||
(5) | (5) | ||||||
1 | (1) | – | |||||
6,064 | 719 | 398 | 383 | 572 | (24) | 8,112 | |
(756) | (154) | (94) | (83) | (100) | (70) | (1,257) | |
12.5% | 15.5% | ||||||
5,308 | 565 | 304 | 300 | 472 | (94) | 6,855 | |
380 | 192 | 572 | |||||
4,928 | 565 | 304 | 300 | 280 | (94) | 6,283 | |
121.6p | 13.9p | 7.5p | 7.4p | 6.9p | (2.2)p | 155.1p | |
4,052 | 4,052 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total results £m | Profit from discontinued operations £m | Intangible asset amortisation £m | Intangible asset impairment £m | Major restructuring £m | Transaction- related £m | Divestments, significant legal and other items £m | Adjusted results £m | |
29,324 | 29,324 | |||||||
(9,554) | 648 | 102 | 45 | 18 | (8,741) | |||
19,770 | 648 | 102 | 45 | 18 | 20,583 | |||
(8,372) | 180 | 13 | 51 | (8,128) | ||||
(5,488) | 91 | 296 | 39 | (5,062) | ||||
758 | 758 | |||||||
(235) | 1,692 | (1,457) | ||||||
6,433 | 739 | 296 | 321 | 1,750 | (1,388) | 8,151 | ||
(803) | 2 | 10 | (791) | |||||
(2) | (2) | |||||||
5,628 | 739 | 296 | 323 | 1,750 | (1,378) | 7,358 | ||
(707) | (150) | (64) | (87) | (242) | 112 | (1,138) | ||
12.6% | 15.5% | |||||||
4,921 | 589 | 232 | 236 | 1,508 | (1,266) | 6,220 | ||
3,049 | (3,049) | |||||||
7,651 | (7,651) | |||||||
10,700 | (10,700) | |||||||
15,621 | (10,700) | 589 | 232 | 236 | 1,508 | (1,266) | 6,220 | |
460 | 135 | 595 | ||||||
4,461 | 589 | 232 | 236 | 1,373 | (1,266) | 5,625 | ||
205 | (205) | |||||||
10,495 | (10,495) | |||||||
15,621 | (10,700) | 589 | 232 | 236 | 1,508 | (1,266) | 6,220 | |
665 | (205) | 135 | 595 | |||||
14,956 | (10,495) | 589 | 232 | 236 | 1,373 | (1,266) | 5,625 | |
15,621 | (10,700) | 589 | 232 | 236 | 1,508 | (1,266) | 6,220 | |
110.8p | 14.6p | 5.8p | 5.9p | 34.1p | (31.5)p | 139.7p | ||
260.6p | (260.6)p | |||||||
371.4p | (260.6)p | 14.6p | 5.8p | 5.9p | 34.1p | (31.5)p | 139.7p | |
4,026 | 4,026 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total results £m | Profit from discontinued operations £m | Intangible asset amortisation £m | Intangible asset impairment £m | Major restructuring £m | Transaction- related £m | Divestments, significant legal and other items £m | Adjusted results £m | |
24,696 | 24,696 | |||||||
(8,163) | 660 | 102 | 28 | 27 | (7,346) | |||
16,533 | 660 | 102 | 28 | 27 | 17,350 | |||
(7,070) | 277 | 9 | 35 | (6,749) | ||||
(5,019) | 101 | 347 | 45 | 1 | (4,525) | |||
417 | 417 | |||||||
(504) | 1,106 | (602) | ||||||
4,357 | 761 | 347 | 424 | 1,143 | (539) | 6,493 | ||
(755) | 2 | 1 | (752) | |||||
(36) | 36 | |||||||
33 | 33 | |||||||
3,599 | 761 | 347 | 426 | 1,143 | (502) | 5,774 | ||
(83) | (153) | (81) | (79) | (179) | (343) | (918) | ||
2.3% | 15.9% | |||||||
3,516 | 608 | 266 | 347 | 964 | (845) | 4,856 | ||
1,580 | (1,580) | |||||||
1,580 | (1,580) | |||||||
5,096 | (1,580) | 608 | 266 | 347 | 964 | (845) | 4,856 | |
200 | 241 | 441 | ||||||
3,316 | 608 | 266 | 347 | 723 | (845) | 4,415 | ||
511 | (511) | |||||||
1,069 | (1,069) | |||||||
5,096 | (1,580) | 608 | 266 | 347 | 964 | (845) | 4,856 | |
711 | (511) | 241 | 441 | |||||
4,385 | (1,069) | 608 | 266 | 347 | 723 | (845) | 4,415 | |
5,096 | (1,580) | 608 | 266 | 347 | 964 | (845) | 4,856 | |
82.9p | 15.2p | 6.6p | 8.7p | 18.1p | (21.2)p | 110.3p | ||
26.7p | (26.7)p | |||||||
109.6p | (26.7)p | 15.2p | 6.6p | 8.7p | 18.1p | (21.2)p | 110.3p | |
4,003 | 4,003 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |||||
Cash £m | Non- cash £m | Total £m | Cash £m | Non- cash £m | Total £m | |
199 | 117 | 316 | 177 | 110 | 287 | |
65 | 1 | 66 | 20 | – | 20 | |
(1) | 1 | – | 9 | 5 | 14 | |
263 | 119 | 382 | 206 | 115 | 321 |
2023 £m | ||
934 | 1,431 | |
(245) | 85 | |
(187) | 193 | |
44 | 17 | |
26 | 24 | |
572 | 1,750 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
6,768 | 7,403 | |
(1,595) | (8,772) | |
(5,641) | 823 | |
(468) | (546) | |
3,425 | 3,819 | |
(99) | 152 | |
(468) | (546) | |
2,858 | 3,425 | |
2,936 | 3,723 | |
(78) | (298) | |
2,858 | 3,425 |
2023 £m | 2022 £m | |
6,768 | 6,634 | |
(1,314) | (1,143) | |
(1,030) | (1,115) | |
28 | 146 | |
12 | 196 | |
(651) | (784) | |
12 | 6 | |
(11) | (79) | |
7 | 8 | |
(412) | (521) | |
3,409 | 3,348 |
2023 £m | 2022 £m | |
3,409 | 3,348 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
9,020 | 8,933 | |
937 | 687 | |
6,811 | 7,046 | |
14,768 | 14,318 | |
55 | 74 | |
1,137 | 1,467 | |
6,049 | 5,658 | |
1,584 | 1,194 | |
40,361 | 39,377 | |
5,498 | 5,146 | |
373 | 405 | |
7,385 | 7,053 | |
130 | 190 | |
2,204 | 4,087 | |
42 | 67 | |
2,936 | 3,723 | |
76 | 98 | |
18,644 | 20,769 | |
59,005 | 60,146 | |
(2,813) | (3,952) | |
(1,053) | (1,289) | |
(15,844) | (16,263) | |
(114) | (183) | |
(500) | (471) | |
(744) | (652) | |
(21,068) | (22,810) | |
(15,205) | (17,035) | |
(75) | (127) | |
(311) | (289) | |
(2,340) | (2,579) | |
(495) | (532) | |
(5,609) | (5,779) | |
(1,107) | (899) | |
(25,142) | (27,240) | |
(46,210) | (50,050) | |
12,795 | 10,096 | |
12,795 | 10,096 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
42 | 67 | |
2,936 | 3,723 | |
(2,813) | (3,952) | |
(15,205) | (17,035) | |
(15,040) | (17,197) |
2023 £m | ||
1,942 | 1,324 | |
155 | 146 | |
839 | 2,253 | |
2,936 | 3,723 | |
42 | 67 | |
2,978 | 3,790 |
2023 £m | 2022 £m | |
42 | 67 | |
2,936 | 3,723 | |
(16,898) | (19,214) | |
(1,120) | (1,773) | |
(15,040) | (17,197) |
2023 £m | 2022 £m | |
(17,197) | (19,838) | |
(468) | (7,597) | |
(72) | (1) | |
(79) | 569 | |
2,449 | 4,053 | |
197 | 202 | |
50 | (24) | |
554 | (1,531) | |
(474) | (207) | |
2,157 | (4,536) | |
– | 7,177 | |
(15,040) | (17,197) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
10,096 | 21,342 | |
4,991 | 14,790 | |
– | (2,960) | |
– | (3,045) | |
(2,247) | (3,467) | |
10 | 25 | |
– | (20) | |
– | (15,526) | |
36 | 9 | |
307 | 357 | |
7 | (8) | |
7 | 8 | |
(412) | (1,409) | |
12,795 | 10,096 |
Total | Under 1 yr | 1-3 yrs | 3-5 yrs | 5 yrs+ | |
£m | £m | £m | £m | £m | |
16,900 | 2,660 | 2,913 | 3,101 | 8,226 | |
5,446 | 547 | 973 | 848 | 3,078 | |
1,207 | 156 | 348 | 202 | 501 | |
254 | 41 | 67 | 50 | 96 | |
5 | 1 | 2 | 2 | – | |
16,329 | 386 | 835 | 1,956 | 13,152 | |
762 | 587 | 175 | – | – | |
153 | 63 | 73 | 17 | – | |
31 | 4 | 9 | 3 | 15 | |
41,087 | 4,445 | 5,395 | 6,179 | 25,068 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total | Under 1 yr | 1-3 yrs | 3-5 yrs | 5 yrs+ | |
£m | £m | £m | £m | £m | |
Guarantees | 14 | 9 | 3 | 1 | 1 |
Other contingent liabilities | 18 | 6 | – | 9 | 3 |
Total | 32 | 15 | 3 | 10 | 4 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | 2021 | ||||
£m | Margin % | £m | Margin % | £m | Margin % | |
32,359 | 100 | 29,814 | 100 | 24,432 | 100 | |
(8,874) | (27) | (8,275) | (28) | (6,875) | (28) | |
(6,385) | (20) | (6,218) | (21) | (5,134) | (21) | |
(566) | (2) | (536) | (2) | (438) | (2) | |
(344) | (1) | (255) | (1) | (253) | (1) | |
591 | 2 | 780 | 3 | 855 | 4 | |
(961) | (3) | (768) | (2) | (673) | (3) | |
(16,539) | (51) | (15,272) | (51) | (12,518) | (51) | |
15,820 | 49 | 14,542 | 49 | 11,914 | 49 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
108 | |
114 | |
116 | |
119 | |
121 | |
128 | |
139 | |
142 | |
161 |
GSK Annual Report 2023 | ||||||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | ||
l |
l | ||
l | ||
l | ||
l |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Committee report on page | |||
– | |||
128-129 | |||
129-130 | |||
131-132 | |||
133-138 | |||
139-160 | |||
Leadership Chair Jonathan Symonds – leads and manages the business of the Board – provides direction and focus – ensures a clear structure for the Board and its committees to operate effectively – maintains a dialogue with shareholders about the governance of the company – sets the Board agenda and ensures sufficient time is allocated to promote effective debate to support sound decision-making – ensures the Board receives accurate, timely and clear information – meets regularly with each Non-Executive Director to discuss individual contributions and performance, and training and development needs – shares peer feedback that is provided as part of the Board evaluation process – meets regularly with all the Non-Executive Directors independently of the Executive Directors + The Chair’s role description is available at gsk.com Chief Executive Officer Emma Walmsley – manages the Group and its business – develops the Group’s strategic direction for the Board's consideration and approval – implements the agreed strategy – is supported by the GLT – maintains a continuous dialogue with shareholders in respect of the company’s performance + The Chief Executive Officer’s role description is available at gsk.com |
Independent oversight and rigorous challenge Senior Independent Director Charles Bancroft – acts as a sounding board for the Chair and a trusted intermediary for other Directors – together with the Non-Executive Directors, leads the annual review of the Chair’s performance, taking into account the views of the Executive Directors – discusses the results of the Chair’s effectiveness review with the Chair – leads the search and appointment process and makes the recommendation to the Board for a new Chair – acts as an additional point of contact for shareholders. Maintains an understanding of their issues and concerns through meetings with shareholders and briefings from the Company Secretary and Investor Relations + GSK's Senior Independent Non-Executive Director’s role description is available at gsk.com Non-Executive Directors – provide a strong independent element to the Board – constructively support and challenge management and scrutinise its performance in achieving agreed deliverables – shape proposals about strategy and offer specialist advice to management – each has a letter of appointment setting out the terms and conditions of their directorship – devote such time as is necessary to the proper performance of their duties – are expected to attend all meetings as required Independence statement The Board considers all its Non-Executive Directors who are identified on pages 108 to 111 – except Dr Hal Barron – to be independent after being assessed against Provision 10 of the Financial Reporting Council's (FRC) UK Corporate Governance Code (Code) + GSK's Non-Executive Directors' role description is available at gsk.com |
Company Secretary Victoria Whyte | – is secretary to the Board and all Board committees – supports the Board and Committee Chairs to plan future agendas and annual programmes – ensures information is made available to Board members in a timely fashion – supports the Chair to design and deliver Board inductions – coordinates continuing business awareness and training for the Non-Executive Directors – undertakes internal Board and committee evaluations at the Chair's request – advises the Directors on Board practice and procedures and corporate governance matters – chairs the Group's Disclosure Committee – operates a Board-approved appointments policy that reflects the Board and external appointment requirements of the Code – is a point of contact for shareholders on all corporate governance matters |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
– setting and approving the Board's 2023-2024 priorities | ||
– discussing and scrutinising strategic plans for GSK and assessing the potential to upgrade our longer-term outlook | ||
– scrutinising updates on R&D strategy, progress and progression of the company's pipeline | ||
– discussing GSK's overall commercial strategy and in particular for China | ||
– discussing end-to-end business opportunities and the impact of AI and other advanced technologies for performance and patients | ||
– receiving regular reports from the CEO, CFO and CSO including the assessment of delivery of performance targets | ||
– receiving updates on R&D strategy, approach and pipeline progress | ||
– assessing the product area strategy reports on Vaccines, Speciality Care (including HIV), Oncology and General Medicines | ||
– reviewing GSK's capital allocation priorities to ensure investment for growth to deliver improved returns for shareholders | ||
– evaluating business development transactions, acquisitions and strategic partnerships with third parties including BELLUS Health, Zhifei, Hansoh, Aiolos Bio, Arrowhead Pharmaceuticals and Janssen Pharmaceuticals | ||
– scrutinising the Group's financial performance, shareholder value creation and development of Investor Relations Roadmap | ||
– reviewing Zantac litigation strategy | ||
– approving the monetisation of the retained shares in Haleon post demerger of the Consumer Healthcare business | ||
– assessing ESG performance and reviewed plans for low-carbon Ventolin, including clinical and non-clinical data available to support regulatory submissions | ||
– approving the ESG Performance Report | ||
– oversight of the company's Pricing and Access Policy principles | ||
– reviewing stakeholder perception research | ||
– reviewing the quarterly financial results, dividend proposals, earnings guidance, investor materials, results announcements and 2022 Annual Report and Form 20F and receiving related reports from the external auditor | ||
– setting the annual budget and the forward-looking three-year plan and long-range forecast | ||
– conducting an annual review of the enterprise risk responsibility framework and enterprise-wide risks | ||
– undertaking an annual Board evaluation and implementing its agreed outcomes | ||
– receiving reports on Board committee work and reviewing and continuing to evolve the Board’s governance architecture | ||
– evaluating the CEO’s 2023 performance, and setting her 2024 objectives | ||
– reviewing culture, talent and succession plans annually | ||
– engaging with GSK's stakeholders and people to gather and understand their views about the company’s activities, operations and culture | ||
– reviewing the employee pulse survey results | ||
– receiving reports on wider corporate governance and regulatory developments, and the Company Secretary’s report | ||
– approving the company's modern slavery statement and gender pay gap positioning |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | ||
l |
l | ||
l |
Number of Board members | Percentage of the Board | Number of senior positions on the Board (CEO, CFO, SID and Chair) | Number in Executive Management | Percentage of executive management | ||
7 | 58% | 2 | 6 | 50% | ||
5 | 42% | 2 | 6 | 50% | ||
10 | 83.3% | 4 | 10 | 83.3% | ||
1 | 8.3% | 1 | 8.3% | |||
1 | 8.3% | |||||
1 | 8.3% |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
– 40% of Board positions held by women | ||
– one woman in a senior Board position (CEO, CFO, SID and/or Chair) by the end of 2025 | ||
– 40% of GLT positions held by women | ||
– one Board Director is ethnically diverse | ||
– one GLT member ethnically diverse by the end of 2025 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | |
l | |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
(1) | |||
l | |||
l |
l | |||
l |
l | l |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Annual bonus | LTIs (PSP) | |||
30% | 20% | |||
30% | 20% | |||
30% | – | |||
– | 20% | |||
– | 30% | |||
10% | – | |||
Pay for performance | ||||
Total remuneration | ||||
Emma Walmsley, CEO | Julie Brown, CFO (from 1 May 2023) | Iain Mackay, former CFO (to 1 May 2023) | ||||||||
2023 £000 | 2022 £000 | 2023 £000 | 2022 £000 | 2023 £000 | 2022 £000 | |||||
1,310 | 1,260 | 635 | — | 305 | 915 | |||||
212 | 131 | 50 | — | 82 | 291 | |||||
94 | 253 | 44 | — | 22 | 183 | |||||
— | — | 2,411 | — | — | — | |||||
1,616 | 1,644 | 3,140 | — | 409 | 1,389 | |||||
3,774 | 3,143 | 1,687 | — | 728 | 2,082 | |||||
7,328 | 3,662 | — | — | 5,294 | 1,854 | |||||
11,102 | 6,805 | 1,687 | — | 6,022 | 3,936 | |||||
12,718 | 8,449 | 4,827 | — | 6,431 | 5,325 | |||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 effective date | % change | Salary £000 | |||||
2024 | 2024 | 2023 | 2022 | ||||
1 April | 4 | 5 | |||||
1 January | 4 | 4 | 1,363 | 1,310 | 1,260 | ||
1 May | 4 | 4 | 990 | 952 | — |
Benefits £000 | |||
2023 | 2022 | ||
118 | 66 | ||
94 | 65 | ||
212 | 131 |
25 | — | ||
25 | — | ||
50 | — |
Emma Walmsley | Julie Brown (from May 2023) | ||||
2023 | 2022 | 2023 | 2022 | ||
6 | 3 | — | — | ||
88 | 250 | 44 | — | ||
94 | 253 | 44 | — |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
l | Financial Measures: 60% | l | Non-Financial Measures: 40% |
2023 Bonus opportunity | 2023 Bonus outcome | |||||||
Target (% of salary) | Maximum (% of salary) | 2023 salary £000 | Paid as (£000) | |||||
% of Maximum Bonus | % of Salary | Cash | Shares (DABP Award) | |||||
100 | 300 | 1,310 | 96 | 288 | 1,310 | 2,463 | ||
952 | 66 | 197 | 940 | 940 |
– GSK delivered strong performance in 2023 with sales, adjusted operating profit and adjusted EPS all growing at double- digit levels for the year (excluding COVID-19 solutions). This was significantly higher than the guidance provided at the start of the year, and strongly supports delivery of GSK’s growth outlooks for the period 2021-26 – Delivered full-year reported Group sales of £30.3 billion (+3% AER, +5% CER, +14% excluding COVID-19 solutions) – Vaccines growth was 23% AER, 24% CER, with Arexvy sales of £1.2 billion since launch in Q3 2023 and Specialty growth was 21% AER, 23% CER (all excluding COVID-19 solutions) – Adjusted Group Operating profit CER growth of 16% excluding COVID-19 solutions, driven by higher sales supported by prioritised increased investment in R&D and new product launches – Adjusted EPS of 155.1p (+11% AER, +16% CER, +22% excluding COVID-19 solutions) was ahead of updated guidance |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Exceeded | ||
– Delivered the financial plan exceeding guidance set for 2023 – with Sales +14% excluding COVID-19 solutions and adjusted operating profit up 12% with further positive impact of +4% excluding COVID-19 solutions, and adjusted EPS grew 16% with further positive impact of +6% excluding COVID-19 solutions (All at CER). Group sales were £30.3 billion | Exceeded | |
Exceeded | ||
– Annual survey of employee engagement reported increase to 81% | ||
The Committee determined that the CEO clearly exceeded her individual objectives and that 78% out of the 90% maximum should be attributed to her overall bonus | ||
Exceeded | ||
– Deep review of capital allocation and pipeline value ‘unlocks’ to support investment in organic R&D and Business Development; and to maximise returns to shareholders – Initiated work to drive P&L efficiency with a focus on SG&A and operating margin improvement | Exceeded | |
– Successfully integrated into GSK and established strong partnership working with CEO and members of GLT, with notable output to support R&D and the Commercial organisations | Met | |
The Committee determined that the CFO clearly met her individual objectives and that 54% out of the 90% maximum should be attributed to her overall bonus |
Enterprise and all directorate targets met | |||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Outcome | % of maximum | % of award | |||||||||
Measure | Threshold 25% | 50% | 75% | Maximum 100% | |||||||
Pivotal Trial starts | 12 | 14 | 16 | 17 | 18 points | 100 | 20 | ||||
13 | 15 | 17 | 19 | 20 points | 100 | ||||||
£18.65 billion | 99.8 | 19 | |||||||||
Innovation sales (billion) | % vesting | ||||||||||
£9.81 billion | 100 | 30 | |||||||||
% vesting | |||||||||||
(1) The revised target has been further adjusted since the 2022 Annual Report as noted below | |||||||||||
TSR ranking within comparator group (10 companies) | % vesting | Ranked 9th | 0 | 0 | |||||||
Maximum | 1st, 2nd, 3rd | 100 | |||||||||
69 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Granted | Vested (1) | Value of vested shares (1) (£000) | ||
550,757 | 441,309 | £7,328 |
2023 DABP awards | 2023 PSP awards | |||||||
% of total 2022 bonus deferred | Number of shares | Face value of award(1) £000 | Award level as % of base salary | Number of shares | Face value of award(2)(3) £000 | |||
60 | 125,482 | 1,883 | 575 | 501,927 | 7,534 | |||
— | — | — | 400 | 264,026 | 3,808 | |||
56 | 77,751 | 1,167 | — | — | — |
2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
0 | 0 | 0 | 15 | 0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 21 | 26 | 33 | 33 | 33 | 30 | 30 | |
7 | 21 | 33 | 33 | 33 | 33 | 33 | 25 | 8 | 19 | |
14 | 20 | |||||||||
7 | 17 | |||||||||
14 | 38 | 33 | 69 | 59 | 67 | 67 | 58 | 52 | 69 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Bonus opportunity % of salary | ||
Target | Maximum(1) | |
100 | 300 | |
Weighting of performance measures % | ||||
Total sales growth | Adjusted operating profit growth | Strategic and operational measures | ESG: diversity, equity and inclusion | |
30 | 30 | 30 | 10 | |
DABP awards | PSP awards | |||||||
2023 bonus deferred to shares (% of salary) | Number of shares | Face value of award (£000) | % base salary | Number of shares | Face value of award (£000) | |||
188 | 147,271 | 2,463 | 575 | 468,449 | 7,835 | |||
99 | 56,190 | 940 | 400 | 236,763 | 3,960 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Weighting | |||
20% | |||
30% 20% 20% | |||
10% |
Points | Payout | ||
Below Threshold | <15 | Nil | |
Threshold | 15 | 25% | |
18 | 50% | ||
22 | 75% | ||
Maximum | 26 | 100% |
Points | Payout | ||
Below Threshold | <17 | Nil | |
Threshold | 17 | 25% | |
20 | 50% | ||
22 | 75% | ||
Maximum | 24 | 100% |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | 2021 | 2020 | 2023 | 2022 | 2021 | 2020 | 2023 | 2022 | 2021 | 2020 | ||
P25 | P50 | P75 | |||||||||||
Salary | 39,903 | 37,776 | 37,251 | 36,924 | 55,057 | 52,107 | 51,492 | 50,000 | 78,496 | 74,905 | 72,997 | 70,203 | |
Total pay and benefits | 61,490 | 58,883 | 53,151 | 54,133 | 83,783 | 79,428 | 76,234 | 73,340 | 135,819 | 126,594 | 122,852 | 113,830 |
Change % | 2023 £m | 2022 £m | |
10.1 | 8,473 | 7,693 | |
(35.2) | 2,247 | 3,467 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
£000 | |||||||
2023 | 2021 | 2020 | 2019 | 2018 | 2017 | ||
5,887 | 4,883(1) | ||||||
96% | 83% | 93% | 49% | 79% | 93% | 77% | |
69% | 52% | 58% | 67% | 67% | 59% | 69% |
£000 | ||||
2017 | 2016 | 2015 | 2014 | |
715 (2) | ||||
0%(2) | 97% | 100% | 42% | |
0%(3) | 33% | 38% | 14% |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Votes withheld (million) | ||||
2.8 | 88.8 | 11.2 | 70.1 | |
2.9 | 99.0 | 1.0 | 10.7 | |
3.6 | 91.1 | 8.9 | 12.3 | |
3.6 | 61.8 | 38.2 | 13.3 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Items discussed | ||
– Considered Executive Director and GLT performance, benchmarking competitiveness against GSK comparator groups – Reviewed GLT and Company Secretary salary recommendations for 2023 – Executive Director salary review recommendations for 2023 and 2024 – Reviewed company Chair’s fees for 2023 and 2024 | ||
– Considered the LTI performance outcomes and award vesting for the CEO, Executive Directors, GLT and below – Confirmed LTI grants for Executive Directors, GLT and below | ||
– Remuneration considerations and Committee programme for 2023 and 2024 – Committee evaluation and Annual Review of its Terms of Reference – Approved 2022 Remuneration report – Confirmed 2023 Group Budget for remuneration purposes – Considered AGM and Remuneration report feedback, the external remuneration environment and performance target disclosure for incentive plans – Agreed Committee's key messages for Annual Governance Meeting – Committee Chair consulted with employee representatives on wider workforce pay practices and pay generally |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Per annum | |||
2023 | 2024 | ||
£735,000 | £764,400 | ||
£113,800 | £118,352 | ||
£80,000 | £80,000 | ||
£50,000 | £50,000 | ||
£30,000 | £30,000 | ||
£40,000 | £40,000 | ||
Up to £200,000 | Up to £200,000 |
2023 | 2022 | |||||||
Cash | Shares/ADS | Benefits | Total pay | Cash | Shares/ADS | Benefits | Total pay | |
£551 | £184 | £30 | £765 | £525 | £175 | £10 | £710 | |
$100 | $33 | $30 | $163 | $35 | $8 | — | $43 | |
— | $295 | $28 | $323 | — | $287 | $10 | $297 | |
$344 | $33 | $78 | $455 | $150 | $16 | $11 | $177 | |
$156 | $33 | $34 | $223 | $138 | $46 | $15 | $199 | |
£21 | £7 | £4 | £32 | — | — | — | — | |
$191 | $33 | $40 | $264 | $174 | $58 | $2 | $234 | |
$144 | $33 | $44 | $221 | $182 | $61 | $31 | $274 | |
£133 | £28 | £40 | £201 | £112 | £31 | £23 | £166 | |
— | $134 | $13 | $147 | — | $58 | — | $58 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
As at 31 December 2023 or date of retirement | ||||||||||
Unvested share plan interests | ||||||||||
Total directors’ interests(1) | Beneficial interests | Not subject to performance | Subject to performance | |||||||
23 February 2024 | 31 December 2023 or date of retirement | Shares (2) | Shares (3) | Options (4,7) | Shares (5) | |||||
1,974,235 | 1,542,803 | 733,961 | 549,998 | 258,843 | 1,636,924 | |||||
98,685 | 23,105 | 23,105 | — | — | 269,262 | |||||
— | 475,857 | 21,892 | 287,488 | 166,477 | 555,267 |
23 February 2024 | 31 December 2023 or date of retirement | 1 January 2023 | ||
356,006 | 258,843 | 184,990 | ||
56,190 | — | — | ||
— | 166,477 | 127,002 |
Date of grant | Number of shares under option | Date of exercise | Grant price | Market price at exercise | Gain on exercise (000) | ||
14.02.2020 | 60,707 | 14.02.23 | £0.00 | £14.87 | £903 | ||
14.02.2020 | 40,985 | 14.02.23 | £0.00 | £14.89 | £610 |
Value of holdings as % of salary | ||||
SOR % of salary | 23 February 2024 | 31 December 2023 | ||
6.5 | 16.60 | 12.84 | ||
3.0 | 1.12 | 0.35 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Prior NED share allocation plan | ||||||||||
Total directors’ interests as at(2) | Number of shares/ADS | |||||||||
NED SOR 23 February 2024(1) | 23 February 2024 | 31 December 2023 | Beneficial interests at 31 December 2023(4) | Dividends reinvested after year end | 31 December 2023 | Elected & allocated during the year(5) | 1 January 2023 | |||
Met | 68,207 | 64,707 | 64,707 | — | — | 1,047 | 34,391 | |||
In progress | 478 | 478 | 478 | — | — | — | — | |||
Met | 17,362 | 17,362 | 17,362 | — | — | 564 | 18,519 | |||
In progress | 1,179 | 1,171 | 1,171 | — | — | — | — | |||
Met | 23,564 | 22,809 | 7,005 | 709 | 15,804 | 240 | 15,564 | |||
Met | 641,269 (3) | 753,357 | 530,020 | — | — | — | — | |||
In progress | 2,821 | 2,734 | 934 | 80 | 1,800 | 23 | 1,777 | |||
In progress | 2,605 | 2,527 | 934 | 71 | 1,593 | 18 | 1,575 | |||
Met | 14,120 | 13,548 | 934 | 566 | 12,614 | 238 | 12,375 | |||
Met | 4,454 | 4,422 | 4,422 | — | — | — | — |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 percentage change | 2022 percentage change | 2021 percentage change | 2020 percentage change | |||||||||||||
Salary/ fees % | Benefits % | Bonus % | Salary/ fees % | Benefits % | Bonus % | Salary/ fees % | Benefits % | Bonus % | Salary/ fees % | Benefits % | Bonus % | |||||
7.1 | 0.92 | 34.8 | 3.0 | 2.3 | 44.81 | 2.0 | 0.0 | 4.85 | 2.5 | — | 11.0 | |||||
4.0 | 61.8 | 20.1 | 3.0 | (2.2) | 38.2 | 2.0 | (5.0) | 94.6 | 8.0 | (26.6) | (33.4) | |||||
— | — | — | — | — | — | — | — | — | — | — | — | |||||
5.0 | 200.0 | — | 0.0 | 233.3 | — | 0.0 | 50.0 | — | 201.7 | 0.0 | — | |||||
209.3 | — | — | — | — | — | — | — | — | — | — | — | |||||
2.8 | 180.0 | — | 36.7 | 100.0 | — | 156.1 | — | — | — | — | — | |||||
127.1 | 609.1 | — | — | — | — | — | — | — | — | — | — | |||||
2.7 | 126.7 | — | 121.7 | — | — | — | — | — | — | — | — | |||||
— | — | — | — | — | — | — | — | — | — | — | — | |||||
(3.4) | 1900.0 | — | — | — | — | — | — | — | — | — | — | |||||
(27.2) | 41.9 | — | 11.0 | 34.8 | — | (5.6) | 0.0 | — | (12.5) | (65.2) | — | |||||
12.6 | 73.9 | — | 5.9 | 109.1 | — | (5.6) | 175.0 | — | 16.3 | (69.2) | — | |||||
131.0 | — | — | — | — | — | — | — | — | — | — | — | |||||
(66.7) | (71.8) | (65.0) | 3.0 | 20.2 | 32.4 | 2.0 | 56.1 | 94.2 | 5.6 | (11.5) | (31.6) |
£ | |
37,406,891 | |
6,403 | |
1,314,332 |
Awards | Dividend reinvestment awards | ||||
Shares | ADS | Shares | ADS | ||
2,278,202 | 64,427 | 258,760 | 4,236 | ||
— | — | 11,694 | 328 | ||
10,050 | — | — | — |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Shares | ADS | |
3,444,022 | 558,102 | |
44,738 | — |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Pages | |
Pages | |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
164 | |
166 | |
180 | |
184 | |
267 |
GSK Annual Report 2023 | ||||||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Group |
– Consolidated balance sheet as at 31 December 2023; |
– Consolidated income statement for the year then ended; |
– Consolidated statement of comprehensive income for the year then ended; |
– Consolidated statement of changes in equity for the year then ended; |
– Consolidated cash flow statement for the year then ended; and |
– Notes 1 to 48 to the financial statements, which includes the material accounting policy information. |
Parent company |
– Balance sheet as at 31 December 2023; |
– Statement of changes in equity for the year then ended; and |
– Notes A to L to the financial statements, which includes the material accounting policy information. |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Key observations communicated to the Audit & Risk Committee | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
4.62% | |||
3.45% | |||
4.14% | |||
* A reconciliation between the Statutory profit before tax and Adjusted profit before tax is detailed in the Adjusting Items section of the strategic report. | |||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Notes | 2023 £m | 2022 £m | 2021 £m | |
Notes | 2023 £m | 2022 £m | 2021 £m | |
38 | ( | ( | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Notes | 2023 £m | 2022 £m | |
17 | |||
18 | |||
19 | |||
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25 | |||
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44 | |||
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30 | |||
27 | |||
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37 | |||
38 | |||
38 | |||
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| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Shareholders’ equity | |||||||
Share capital £m | Share premium £m | Retained earnings £m | Other reserves* £m | Total £m | Non-controlling interests £m | Total equity £m | |
( | ( | ( | ( | ||||
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| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Notes | 2023 £m | |||
42 | ||||
( | ( | ( | ||
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41 | ( | ( | ||
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| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
20 to 50 years | |
Lease term or 20 to 50 years | |
10 to 20 years | |
3 to 10 years |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | 2021 | |
US$/£ | 1.24 | 1.24 | 1.38 |
Euro/£ | 1.15 | 1.17 | 1.16 |
Yen/£ | 175 | 161 | 151 |
2023 | 2022 | 2021 | |
US$/£ | 1.27 | 1.20 | 1.35 |
Euro/£ | 1.15 | 1.13 | 1.19 |
Yen/£ | 180 | 159 | 155 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
30,328 | 29,324 | 24,696 | |
30,328 | 29,324 | 24,696 |
2023 £m | 2022 £m | 2021 £m | |
3,446 | 2,958 | 1,721 | |
1,260 | 1,116 | 961 | |
1,238 | – | – | |
504 | 714 | 679 | |
3,266 | 3,085 | 2,970 | |
9,714 | 7,873 | 6,331 | |
150 | 64 | 447 | |
9,864 | 7,937 | 6,778 | |
6,444 | 5,749 | 4,777 | |
3,025 | 2,609 | 2,027 | |
731 | 602 | 489 | |
10,200 | 8,960 | 7,293 | |
44 | 2,309 | 958 | |
10,244 | 11,269 | 8,251 | |
6,825 | 6,548 | 6,048 | |
3,395 | 3,570 | 3,619 | |
10,220 | 10,118 | 9,667 | |
30,328 | 29,324 | 24,696 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
14,656 | 13,590 | 11,467 | |
(5,607) | (5,060) | (4,567) | |
9,049 | 8,530 | 6,900 | |
(263) | (379) | (407) | |
(2,041) | (1,718) | (2,136) | |
6,745 | 6,433 | 4,357 | |
115 | 76 | 14 | |
(792) | (879) | (769) | |
1 | – | (36) | |
(5) | (2) | 33 | |
6,064 | 5,628 | 3,599 | |
(756) | (707) | (83) | |
5,308 | 4,921 | 3,516 |
2023 £m | 2022 £m | 2021 £m | |
893 | 829 | 915 | |
572 | 467 | 378 | |
1,465 | 1,296 | 1,293 | |
110 | 112 | 68 | |
719 | 739 | 761 | |
2,294 | 2,147 | 2,122 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
27 | 29 | 30 | |
13 | 32 | 55 | |
40 | 61 | 85 | |
35 | 20 | 63 | |
432 | 420 | 392 | |
507 | 501 | 540 |
(16) | (6) | (8) | |
(9) | (19) | (2) | |
(25) | (25) | (10) | |
(14) | – | – | |
– | (1) | (2) | |
(39) | (26) | (12) |
2023 £m | 2022 £m | ||
12,302 | 10,288 | ||
7,021 | 7,299 | ||
19,323 | 17,587 | ||
625 | 264 | ||
19,948 | 17,851 | ||
(15,040) | (17,197) | ||
55 | 74 | ||
2,204 | 4,087 | ||
16 | 7 | ||
5,536 | 5,176 | ||
76 | 98 | ||
12,795 | 10,096 |
2023 £m | 2022 £m | 2021 £m | |
693 | 695 | 656 | |
15,820 | 14,542 | 11,914 | |
13,815 | 14,087 | 12,126 | |
30,328 | 29,324 | 24,696 |
2023 £m | 2022 £m | ||
6,464 | 5,134 | ||
13,280 | 14,024 | ||
5,337 | 5,415 | ||
6,606 | 6,593 | ||
31,687 | 31,166 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
– | 922 | – | |
(122) | 256 | 37 | |
61 | 215 | 552 | |
(791) | (1,607) | (1,058) | |
245 | (85) | (48) | |
7 | 3 | (4) | |
237 | 61 | 17 | |
(363) | (235) | (504) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
8,473 | 7,693 | 7,680 | |
835 | 735 | 433 | |
199 | 192 | 169 | |
892 | 885 | 855 | |
17 | 70 | 87 | |
190 | 176 | 179 | |
10 | 40 | 5 | |
1,212 | 1,086 | 1,088 | |
418 | 365 | 435 | |
23 | – | 1 | |
11 | 11 | (4) | |
6,576 | 6,137 | 5,885 | |
979 | 687 | 800 | |
(598) | (483) | (325) | |
8 | 6 | 7 | |
2 | 2 | 3 | |
17 | 9 | 10 | |
22.0 | 26.9 | 31.7 |
2023 £m | 2022 £m | 2021 £m | |
10.2 | 10.9 | 13.2 | |
10.2 | 9.7 | 14.5 | |
20.4 | 20.6 | 27.7 | |
1.6 | 6.3 | 4.0 | |
22.0 | 26.9 | 31.7 |
2023 £m | 2022 £m | 2021 £m | |
Audit | 0.2 | 0.2 | 0.2 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
6,706 | 6,110 | 5,858 | |
818 | 763 | 793 | |
356 | 369 | 415 | |
321 | 314 | 345 | |
272 | 137 | 269 | |
8,473 | 7,693 | 7,680 |
2023 £m | 2022 £m | 2021 £m | |
244 | 243 | 258 | |
58 | 55 | 51 | |
5 | 4 | 5 | |
14 | 12 | 31 | |
321 | 314 | 345 |
2023 Number | 2022 Number | 2021 Number | |
23,209 | 22,946 | 23,562 | |
34,446 | 34,642 | 36,909 | |
12,589 | 11,542 | 10,874 | |
70,244 | 69,130 | 71,345 | |
– | 21,292 | 20,616 | |
70,244 | 90,422 | 91,961 |
2023 £m | 2022 £m | 2021 £m | |
37 | 31 | 27 | |
4 | 5 | 3 | |
1 | 2 | 3 | |
32 | 28 | 27 | |
74 | 66 | 60 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
172 | 138 | 321 | |
(55) | (111) | (140) | |
33 | 122 | 14 | |
86 | (7) | 25 | |
146 | 179 | 204 | |
382 | 321 | 424 |
2023 | |||
Cash £m | Non-cash £m | Total £m | |
199 | 117 | 316 | |
65 | 1 | 66 | |
(1) | 1 | – | |
263 | 119 | 382 | |
2022 | |||
Cash £m | Non-cash £m | Total £m | |
177 | 110 | 287 | |
20 | – | 20 | |
9 | 5 | 14 | |
206 | 115 | 321 |
2023 £m | 2022 £m | 2021 £m | |
Cost of sales | 164 | 102 | 102 |
Selling, general and administration | 216 | 180 | 277 |
Research and development | 2 | 39 | 45 |
382 | 321 | 424 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
48 | 31 | 11 | |
60 | 31 | 2 | |
– | 12 | – | |
7 | 2 | 1 | |
115 | 76 | 14 |
2023 £m | 2022 £m | 2021 £m | |
Financial liabilities at amortised cost | (672) | (789) | (735) |
(23) | 743 | (565) | |
25 | (761) | 565 | |
(4) | (2) | (2) | |
(15) | (7) | (2) | |
(38) | (30) | (27) | |
(65) | (33) | (3) | |
(792) | (879) | (769) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
(2) | 1 | 36 | |
(3) | (3) | (3) | |
(5) | (2) | 33 |
2021 £m | |||
108 | |||
106 | |||
106 |
2023 £m | 2022 £m | 2021 £m | |
(5) | (2) | – | |
7 | (9) | 28 | |
2 | (11) | 28 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
207 | 200 | 119 | |
1,371 | 1,351 | 593 | |
43 | (60) | 219 | |
1,621 | 1,491 | 931 | |
(865) | (784) | (848) | |
756 | 707 | 83 |
2023 £m | 2023 % | 2022 £m | 2022 % | 2021 £m | 2021 % | |
6,064 | 5,628 | 3,599 | ||||
1,425 | 23.5 | 1,069 | 19.0 | 685 | 19.0 | |
159 | 2.6 | 318 | 5.6 | 302 | 8.4 | |
(696) | (11.5) | (600) | (10.7) | (382) | (10.6) | |
(121) | (2.0) | (119) | (2.1) | (100) | (2.8) | |
10 | 0.2 | 275 | 4.9 | (3) | (0.1) | |
102 | 1.7 | 82 | 1.5 | (4) | (0.1) | |
43 | 0.7 | (60) | (1.1) | 219 | 6.1 | |
(147) | (2.4) | (233) | (4.1) | (281) | (7.8) | |
(19) | (0.3) | (25) | (0.4) | (353) | (9.8) | |
756 | 12.5 | 707 | 12.6 | 83 | 2.3 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
(1) | (3) | – | |
(143) | – | – | |
– | – | 5 | |
(6) | 12 | 36 | |
(150) | 9 | 41 | |
(6) | 11 | (11) | |
184 | (211) | 223 | |
(1) | (9) | 3 | |
(8) | (68) | (167) | |
169 | (277) | 48 | |
19 | (268) | 89 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Accelerated capital allowances £m | Intangible assets £m | Contingent consideration £m | Intra- Group profit £m | Pensions & other post employment benefits £m | Tax losses £m | Share option and award schemes £m | Other net temporary differences £m | Total | |
(211) | (3,711) | 850 | 999 | 640 | 1,450 | 91 | 1,554 | 1,662 | |
(29) | (264) | – | (40) | 64 | 6 | 1 | 160 | (102) | |
122 | 126 | 142 | 258 | (32) | 104 | (22) | 190 | 888 | |
– | – | – | – | 182 | 42 | (11) | (12) | 201 | |
(1) | (637) | – | – | – | 67 | – | 76 | (495) | |
– | – | – | – | – | – | – | (76) | (76) | |
62 | 3,667 | – | (118) | (60) | (8) | (2) | (250) | 3,291 | |
(57) | (819) | 992 | 1,099 | 794 | 1,661 | 57 | 1,642 | 5,369 | |
11 | 58 | – | (70) | (24) | (2) | – | (100) | (127) | |
72 | 229 | (71) | 223 | (15) | 335 | 12 | 80 | 865 | |
– | – | – | – | (184) | – | 5 | 10 | (169) | |
– | (144) | – | – | – | – | – | – | (144) | |
– | – | – | – | – | – | – | (56) | (56) | |
26 | (676) | 921 | 1,252 | 571 | 1,994 | 74 | 1,576 | 5,738 |
2023 £m | 2022 £m | |
6,049 | 5,658 | |
(311) | (289) | |
5,738 | 5,369 |
2023 | 2022 | |||
Tax losses £m | Unrecognised deferred tax asset £m | Tax losses £m | Unrecognised deferred tax asset £m | |
939 | 149 | 967 | 175 | |
1,238 | 66 | 44 | 13 | |
228 | 47 | 192 | 41 | |
2,405 | 262 | 1,203 | 229 | |
2,261 | 567 | 2,326 | 548 | |
2,261 | 567 | 2,326 | 548 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 pence | 2022 pence | 2021 pence | |
121.6 | 110.8 | 82.9 | |
– | 260.6 | 26.7 | |
121.6 | 371.4 | 109.6 | |
119.9 | 109.2 | 81.8 | |
– | 257.0 | 26.4 | |
119.9 | 366.2 | 108.2 |
2023 millions | 2022 millions | 2021 millions | |
4,052 | 4,026 | 4,003 | |
59 | 58 | 49 | |
4,111 | 4,084 | 4,052 |
2023 | 2022 | 2021 | |||||||
Paid/payable | Dividend per share (pence) | Total dividend £m | Paid | Dividend per share (pence) | Total dividend £m | Paid | Dividend per share (pence) | Total dividend £m | |
13 July 2023 | 14.00 | 567 | 1 July 2022 | 17.50 | 704 | 8 July 2021 | 23.75 | 951 | |
12 October 2023 | 14.00 | 568 | 6 October 2022 | 16.25 | 654 | 7 October 2021 | 23.75 | 951 | |
11 January 2024 | 14.00 | 568 | 12 January 2023 | 13.75 | 555 | 13 January 2022 | 23.75 | 952 | |
11 April 2024 | 16.00 | 649 | 13 April 2023 | 13.75 | 557* | 7 April 2022 | 28.75 | 1,157 | |
58.00 | 2,352 | 61.25 | 2,470 | 100 | 4,011 |
2023 £m | 2022 £m | 2021 £m | |
2,247 | 3,467 | 3,999 | |
– | 15,526 | – | |
2,247 | 18,993 | 3,999 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Land and buildings £m | Plant, equipment and vehicles £m | Assets in construction £m | Total £m | |
7,212 | 11,816 | 1,750 | 20,778 | |
403 | 542 | 105 | 1,050 | |
5 | 8 | 17 | 30 | |
13 | 79 | 1,153 | 1,245 | |
– | – | 21 | 21 | |
(64) | (222) | (5) | (291) | |
146 | 689 | (874) | (39) | |
(1,067) | (1,959) | (317) | (3,343) | |
6,648 | 10,953 | 1,850 | 19,451 | |
(189) | (265) | (44) | (498) | |
– | – | – | – | |
11 | 99 | 1,185 | 1,295 | |
– | – | 36 | 36 | |
(136) | (732) | (16) | (884) | |
134 | 701 | (869) | (34) | |
(13) | (52) | (22) | (87) | |
6,455 | 10,704 | 2,120 | 19,279 | |
(3,281) | (6,744) | – | (10,025) | |
(191) | (310) | – | (501) | |
(226) | (726) | – | (952) | |
47 | 181 | – | 228 | |
376 | 1,130 | – | 1,506 | |
(3,275) | (6,469) | – | (9,744) | |
90 | 153 | – | 243 | |
(210) | (682) | – | (892) | |
66 | 662 | – | 728 | |
6 | 29 | – | 35 | |
– | (4) | – | (4) | |
(3,323) | (6,311) | – | (9,634) | |
(264) | (514) | (43) | (821) | |
(9) | (14) | (1) | (24) | |
9 | 47 | 5 | 61 | |
(33) | (45) | (5) | (83) | |
– | 9 | – | 9 | |
37 | 45 | 2 | 84 | |
(260) | (472) | (42) | (774) | |
4 | 7 | 1 | 12 | |
27 | 114 | 13 | 154 | |
(11) | (32) | – | (43) | |
3 | 23 | – | 26 | |
– | – | – | – | |
– | – | – | – | |
(237) | (360) | (28) | (625) | |
(3,535) | (6,941) | (42) | (10,518) | |
(3,560) | (6,671) | (28) | (10,259) | |
3,667 | 4,558 | 1,707 | 9,932 | |
3,113 | 4,012 | 1,808 | 8,933 | |
2,895 | 4,033 | 2,092 | 9,020 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Land and buildings £m | Plant and equipment £m | Vehicles £m | Total £m | |
633 | 9 | 98 | 740 | |
47 | – | 8 | 55 | |
53 | – | – | 53 | |
140 | 2 | 91 | 233 | |
(131) | (3) | (58) | (192) | |
(115) | (1) | (11) | (127) | |
(27) | (1) | (8) | (36) | |
(39) | – | – | (39) | |
561 | 6 | 120 | 687 | |
(30) | – | (6) | (36) | |
1 | – | – | 1 | |
355 | – | 144 | 499 | |
(121) | (2) | (67) | (190) | |
– | – | – | – | |
(11) | – | (9) | (20) | |
(10) | – | – | (10) | |
6 | – | – | 6 | |
751 | 4 | 182 | 937 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
7,046 | 10,552 | |
(313) | 550 | |
109 | 1,127 | |
(31) | – | |
– | (5,183) | |
6,811 | 7,046 | |
7,046 | 10,552 | |
6,811 | 7,046 |
2023 £m | 2022 £m | |
5,951 | 6,148 | |
860 | 898 | |
6,811 | 7,046 |
Terminal growth rate | Discount rate | ||
0% p.a | 7% p.a | ||
0% p.a | 7% p.a | ||
0% p.a | 7% p.a | ||
0% p.a | 7% p.a |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Computer software £m | Licences, patents, amortised brands £m | Indefinite life brands £m | Total £m | |
2,424 | 21,439 | 18,626 | 42,489 | |
63 | 934 | 1,112 | 2,109 | |
– | 317 | – | 317 | |
– | 2,964 | – | 2,964 | |
149 | 626 | – | 775 | |
(203) | (33) | – | (236) | |
(513) | (496) | (19,772) | (20,781) | |
39 | (34) | 34 | 39 | |
1,959 | 25,717 | – | 27,676 | |
(30) | (664) | – | (694) | |
– | 363 | – | 363 | |
– | 1,438 | – | 1,438 | |
144 | 525 | – | 669 | |
(125) | (13) | – | (138) | |
2 | – | – | 2 | |
34 | (3) | – | 31 | |
1,984 | 27,363 | – | 29,347 | |
(1,369) | (8,262) | – | (9,631) | |
(33) | (307) | – | (340) | |
(204) | (931) | – | (1,135) | |
129 | 19 | – | 148 | |
254 | 300 | – | 554 | |
(1,223) | (9,181) | – | (10,404) | |
18 | 174 | – | 192 | |
(203) | (1,009) | – | (1,212) | |
100 | 8 | – | 108 | |
(3) | – | – | (3) | |
4 | 1 | – | 5 | |
(1,307) | (10,007) | – | (11,314) | |
(91) | (2,480) | (208) | (2,779) | |
(2) | (138) | (1) | (141) | |
(72) | (313) | (17) | (402) | |
10 | 34 | 226 | 270 | |
1 | 17 | – | 18 | |
73 | 7 | – | 80 | |
(81) | (2,873) | – | (2,954) | |
1 | 70 | – | 71 | |
(23) | (398) | – | (421) | |
– | – | – | – | |
3 | – | – | 3 | |
25 | 11 | – | 36 | |
(75) | (3,190) | – | (3,265) | |
(1,304) | (12,054) | – | (13,358) | |
(1,382) | (13,197) | – | (14,579) | |
964 | 10,697 | 18,418 | 30,079 | |
655 | 13,663 | – | 14,318 | |
602 | 14,166 | – | 14,768 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Amortisation | Net impairment losses | |||
2023 £m | 2022 £m | 2023 £m | 2022 £m | |
668 | 663 | 1 | 2 | |
103 | 116 | 18 | 66 | |
441 | 307 | 399 | 299 | |
1,212 | 1,086 | 418 | 367 |
2023 £m | 2022 £m | |
2,656 | 2,858 | |
1,717 | 1,855 | |
1,470 | 1,499 | |
1,438 | – | |
1,429 | 1,473 | |
1,059 | 1,150 | |
443 | 443 | |
425 | 509 | |
424 | 541 | |
289 | 288 | |
198 | 202 | |
191 | 196 | |
191 | 178 | |
163 | 163 | |
139 | 40 | |
125 | 181 | |
116 | 142 | |
116 | – | |
115 | 137 | |
114 | 90 | |
104 | 115 | |
100 | 147 | |
1 | 159 | |
1,143 | 1,297 | |
14,166 | 13,663 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Joint ventures £m | Associates £m | 2023 Total £m | Joint ventures £m | Associates £m | 2022 Total £m | |
10 | 64 | 74 | 12 | 76 | 88 | |
– | (3) | (3) | 1 | 1 | 2 | |
– | – | – | – | 1 | 1 | |
(7) | – | (7) | – | – | – | |
– | (11) | (11) | – | (6) | (6) | |
– | 7 | 7 | – | (9) | (9) | |
– | – | – | – | – | – | |
(3) | (2) | (5) | (3) | 1 | (2) | |
– | 55 | 55 | 10 | 64 | 74 |
Investments measured at FVTPL 2023 £m | Investments measured at FVTPL 2022 £m | |||||
4,087 | – | |||||
– | 3,852 | |||||
(17) | 233 | |||||
(1,863) | – | |||||
(3) | 2 | |||||
2,204 | 4,087 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Investments designated as measured at FVTOCI £m | Investments measured at FVTPL £m | 2023 £m | Investments designated as measured at FVTOCI £m | Investments measured at FVTPL £m | 2022 £m | |
1,153 | 314 | 1,467 | 1,927 | 199 | 2,126 | |
(26) | (15) | (41) | 75 | 25 | 100 | |
93 | 29 | 122 | 87 | 63 | 150 | |
(253) | – | (253) | (716) | – | (716) | |
– | (122) | (122) | – | 27 | 27 | |
(16) | – | (16) | – | – | – | |
(20) | – | (20) | (220) | – | (220) | |
931 | 206 | 1,137 | 1,153 | 314 | 1,467 |
2023 £m | 2022 £m | |
854 | 857 | |
634 | 229 | |
96 | 108 | |
1,584 | 1,194 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
1,594 | 1,576 | |
2,449 | 2,286 | |
1,455 | 1,284 | |
5,498 | 5,146 |
2023 £m | 2022 £m | |
5,905 | 5,452 | |
69 | 19 | |
355 | 343 | |
2 | 2 | |
9 | 11 | |
1,045 | 1,226 | |
7,385 | 7,053 |
2023 £m | 2022 £m | |
91 | 150 | |
(6) | 9 | |
11 | 35 | |
– | (60) | |
(9) | (19) | |
(2) | (24) | |
85 | 91 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
748 | 879 | |
2,188 | 2,844 | |
2,936 | 3,723 |
2023 £m | 2022 £m | |
60 | 83 | |
16 | 15 | |
76 | 98 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
3,717 | 3,866 | |
1,683 | 1,488 | |
126 | 126 | |
848 | 1,093 | |
346 | 418 | |
222 | 299 | |
6,799 | 6,627 | |
2,103 | 2,346 | |
15,844 | 16,263 |
2023 £m | 2022 £m | |
84 | 100 | |
126 | 149 | |
(84) | (99) | |
(126) | (149) | |
(18) | (32) | |
(26) | (48) | |
19 | 35 | |
28 | 53 | |
54 | 66 | |
85 | 103 | |
(46) | (56) | |
(67) | (80) | |
22 | 29 | |
34 | 46 | |
(18) | (24) | |
(26) | (35) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |||
42 | 67 | |||
2,936 | 3,723 | |||
2,978 | 3,790 | |||
(815) | (1,191) | |||
(191) | (448) | |||
– | (665) | |||
– | (443) | |||
– | (1,038) | |||
(784) | – | |||
(867) | – | |||
(156) | (167) | |||
(2,813) | (3,952) | |||
– | (829) | |||
– | (884) | |||
(650) | (663) | |||
(783) | (827) | |||
(608) | (620) | |||
(867) | (885) | |||
(434) | (442) | |||
(306) | (306) | |||
(1,370) | (1,450) | |||
(235) | – | |||
(745) | (744) | |||
(778) | (822) | |||
(433) | (441) | |||
(650) | (663) | |||
(604) | (616) | |||
(566) | (640) | |||
(390) | (412) | |||
(745) | (744) | |||
(2,139) | (2,264) | |||
(627) | (695) | |||
(472) | (472) | |||
(385) | (408) | |||
(366) | (366) | |||
(1) | (1) | |||
(1,051) | (841) | |||
(15,205) | (17,035) | |||
(15,040) | (17,197) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
156 | 167 | |
214 | 201 | |
134 | 127 | |
114 | 97 | |
88 | 80 | |
501 | 336 | |
1,207 | 1,008 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
96 | 114 | 185 | |
56 | 48 | 40 | |
146 | 154 | 153 | |
58 | 53 | 37 | |
356 | 369 | 415 | |
134 | 152 | 231 | |
35 | 31 | 23 | |
58 | 53 | 37 | |
227 | 236 | 291 | |
129 | 133 | 124 | |
356 | 369 | 415 | |
2023 £m | 2022 £m | 2021 £m | |
94 | 104 | 106 | |
91 | 90 | 136 | |
42 | 42 | 49 | |
227 | 236 | 291 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
UK | US | |||
Male Years | Female Years | Male Years | Female Years | |
27.1 | 28.0 | 27.3 | 28.7 | |
28.2 | 29.2 | 28.9 | 30.2 |
UK | US | Rest of World | |||||||
2023 % pa | 2022 % pa | 2021 % pa | 2023 % pa | 2022 % pa | 2021 % pa | 2023 % pa | 2022 % pa | 2021 % pa | |
n/a | n/a | 2.00 | n/a | n/a | n/a | 3.20 | 3.40 | 2.90 | |
4.60 | 4.80 | 2.00 | 5.00 | 5.30 | 2.70 | 3.10 | 3.40 | 1.10 | |
2.90 | 3.10 | 3.20 | n/a | n/a | n/a | 2.50 | 2.40 | 2.30 | |
n/a | n/a | n/a | 4.00 | 3.90 | 2.00 | 0.60 | 0.80 | 0.20 | |
2.90 | 3.10 | 3.20 | 2.50 | 2.50 | 2.25 | 2.00 | 2.30 | 1.90 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Pensions | Post-retirement benefits | ||||
UK £m | US £m | Rest of World £m | Group £m | Group £m | |
– | 5 | 91 | 96 | 12 | |
3 | – | – | 3 | – | |
(5) | 35 | 16 | 46 | 47 | |
– | – | (6) | (6) | – | |
14 | 16 | – | 30 | (1) | |
12 | 56 | 101 | 169 | 58 | |
28 | 45 | 38 | 111 | (40) |
Pensions | Post-retirement benefits | ||||
UK £m | US £m | Rest of World £m | Group £m | Group £m | |
13 | 7 | 126 | 146 | 22 | |
6 | – | – | 6 | – | |
(11) | 20 | 9 | 18 | 32 | |
– | – | (22) | (22) | – | |
14 | 21 | – | 35 | (1) | |
22 | 48 | 113 | 183 | 53 | |
(1,169) | 36 | 261 | (872) | 228 |
Pensions | Post-retirement benefits | ||||
UK £m | US £m | Rest of World £m | Group £m | Group £m | |
53 | 9 | 119 | 181 | 17 | |
27 | 2 | (10) | 19 | (3) | |
3 | 18 | 7 | 28 | 22 | |
– | – | (2) | (2) | – | |
15 | 12 | 2 | 29 | – | |
98 | 41 | 116 | 255 | 36 | |
572 | 98 | 186 | 856 | 68 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
634 | 229 | 741 | |
(1,397) | (1,585) | (1,870) | |
(943) | (994) | (1,243) | |
(2,340) | (2,579) | (3,113) |
UK £m | US £m | Rest of World £m | Group £m | ||
1,647 | 447 | 349 | 2,443 | ||
– | – | 2 | 2 | ||
852 | – | – | 852 | ||
– | – | – | – | ||
467 | 119 | 24 | 610 | ||
2,019 | 698 | 205 | 2,922 | ||
– | – | 15 | 15 | ||
4,897 | 774 | 527 | 6,198 | ||
990 | – | 771 | 1,761 | ||
(1,374) | 104 | 89 | (1,181) | ||
9,498 | 2,142 | 1,982 | 13,622 | ||
(9,222) | (2,757) | (2,406) | (14,385) | ||
276 | (615) | (424) | (763) | ||
457 | – | 177 | 634 | ||
(181) | (615) | (601) | (1,397) | ||
276 | (615) | (424) | (763) | ||
647 | 196 | 138 | 981 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
UK £m | US £m | Rest of World £m | Group £m | ||
1,351 | 437 | 371 | 2,159 | ||
– | – | 2 | 2 | ||
1,101 | – | – | 1,101 | ||
– | – | 19 | 19 | ||
464 | 140 | 1 | 605 | ||
1,692 | 779 | 124 | 2,595 | ||
– | – | 15 | 15 | ||
4,048 | 723 | 558 | 5,329 | ||
1,003 | – | 691 | 1,694 | ||
(645) | 181 | 89 | (375) | ||
9,014 | 2,260 | 1,870 | 13,144 | ||
(9,117) | (3,030) | (2,353) | (14,500) | ||
(103) | (770) | (483) | (1,356) | ||
109 | – | 120 | 229 | ||
(212) | (770) | (603) | (1,585) | ||
(103) | (770) | (483) | (1,356) | ||
(4,710) | (253) | (550) | (5,513) |
UK £m | US £m | Rest of World £m | Group £m | ||
3,954 | 522 | 731 | 5,207 | ||
– | – | 4 | 4 | ||
1,415 | – | – | 1,415 | ||
– | – | 68 | 68 | ||
502 | 154 | 1 | 657 | ||
1,503 | 975 | 140 | 2,618 | ||
– | – | 15 | 15 | ||
5,054 | 724 | 984 | 6,762 | ||
1,334 | – | 917 | 2,251 | ||
(130) | 149 | 72 | 91 | ||
13,632 | 2,524 | 2,932 | 19,088 | ||
– | – | (26) | (26) | ||
(13,299) | (3,248) | (3,644) | (20,191) | ||
333 | (724) | (738) | (1,129) | ||
606 | – | 135 | 741 | ||
(273) | (724) | (873) | (1,870) | ||
333 | (724) | (738) | (1,129) | ||
541 | 97 | 48 | 686 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Pensions | Post-retirement benefits | ||||
UK £m | US £m | Rest of World £m | Group £m | Group £m | |
13,582 | 2,635 | 2,989 | 19,206 | – | |
– | 31 | (184) | (153) | – | |
187 | 57 | 18 | 262 | – | |
(15) | (12) | – | (27) | – | |
– | – | (7) | (7) | – | |
354 | 40 | 30 | 424 | – | |
139 | 40 | 133 | 312 | 105 | |
3 | – | 24 | 27 | 15 | |
(618) | (267) | (97) | (982) | (120) | |
13,632 | 2,524 | 2,906 | 19,062 | – | |
– | 286 | 122 | 408 | – | |
271 | 71 | 28 | 370 | – | |
(14) | (21) | – | (35) | – | |
– | – | (8) | (8) | – | |
(4,981) | (324) | (578) | (5,883) | – | |
755 | 50 | 114 | 919 | 117 | |
– | – | 15 | 15 | 18 | |
– | – | (624) | (624) | – | |
(649) | (326) | (105) | (1,080) | (135) | |
9,014 | 2,260 | 1,870 | 13,144 | – | |
— | (125) | (84) | (209) | – | |
430 | 111 | 60 | 601 | – | |
(14) | (16) | — | (30) | – | |
– | – | 2 | 2 | – | |
217 | 85 | 78 | 380 | – | |
363 | 125 | 118 | 606 | 98 | |
– | – | 11 | 11 | 18 | |
– | – | – | – | – | |
(512) | (298) | (73) | (883) | (116) | |
9,498 | 2,142 | 1,982 | 13,622 | – |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Pensions | Post-retirement benefits | ||||
UK £m | US £m | Rest of World £m | Group £m | Group £m | |
(13,858) | (3,445) | (4,007) | (21,310) | (1,363) | |
– | (40) | 258 | 218 | 4 | |
(56) | (9) | (151) | (216) | (29) | |
(28) | (2) | 25 | (5) | (12) | |
(190) | (76) | (23) | (289) | (26) | |
– | – | 17 | 17 | – | |
218 | 57 | 164 | 439 | 78 | |
(3) | – | (24) | (27) | (15) | |
618 | 267 | 97 | 982 | 120 | |
(13,299) | (3,248) | (3,644) | (20,191) | (1,243) | |
– | (371) | (124) | (495) | (125) | |
(13) | (7) | (126) | (146) | (22) | |
(6) | – | – | (6) | – | |
(260) | (91) | (37) | (388) | (32) | |
– | – | 29 | 29 | – | |
3,812 | 360 | 839 | 5,011 | 228 | |
– | – | (15) | (15) | (18) | |
– | – | 621 | 621 | 83 | |
649 | 326 | 105 | 1,080 | 135 | |
(9,117) | (3,031) | (2,352) | (14,500) | (994) | |
– | 166 | 87 | 253 | 53 | |
– | (5) | (91) | (96) | (13) | |
(3) | – | – | (3) | – | |
(425) | (145) | (76) | (646) | (47) | |
– | – | 4 | 4 | – | |
(189) | (40) | (40) | (269) | (40) | |
– | – | (11) | (11) | (18) | |
– | – | – | – | – | |
512 | 298 | 73 | 883 | 116 | |
(9,222) | (2,757) | (2,406) | (14,385) | (943) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
(13,782) | (13,887) | (19,419) | |
(603) | (613) | (772) | |
(14,385) | (14,500) | (20,191) |
2023 £m | 2022 £m | 2021 £m | |
(1,356) | (1,129) | (2,104) | |
44 | (87) | 65 | |
(96) | (146) | (216) | |
(3) | (6) | (5) | |
(45) | (18) | (27) | |
6 | 21 | 10 | |
380 | (5,883) | 424 | |
135 | 92 | (62) | |
(137) | 5,868 | 716 | |
(267) | (949) | (215) | |
606 | 919 | 312 | |
– | (3) | – | |
(30) | (35) | (27) | |
(763) | (1,356) | (1,129) |
2023 £m | 2022 £m | 2021 £m | |
7 | 21 | 19 | |
(43) | 219 | 35 | |
(4) | (12) | 24 | |
(40) | 228 | 78 |
2023 £m | 2022 £m | 2021 £m | |
1,508 | 1,390 | 4,196 | |
8,730 | 8,540 | 11,115 | |
4,147 | 4,570 | 4,880 | |
14,385 | 14,500 | 20,191 |
2023 £m | 2022 £m | 2021 £m | |
277 | 306 | 494 | |
666 | 688 | 748 | |
– | – | 1 | |
943 | 994 | 1,243 |
2023 years | 2022 years | 2021 years | |
11 | 12 | 15 | |
10 | 10 | 12 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
0.25% increase £m | 0.25% decrease £m | ||
(18) | 18 | ||
1 | (1) | ||
(373) | 391 | ||
(20) | 22 | ||
0.75% increase £m | 0.75% decrease £m | ||
(58) | 51 | ||
3 | (3) | ||
(1,071) | 1,231 | ||
(57) | 66 | ||
0.25% increase £m | 0.25% decrease £m | ||
16 | (14) | ||
289 | (280) | ||
0.75% increase £m | 0.75% decrease £m | ||
46 | (40) | ||
897 | (803) | ||
1 year increase £m | |||
20 | |||
2 | |||
432 | |||
32 | |||
1% increase £m | |||
2 | |||
34 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Legal and other disputes £m | Major restructuring programmes £m | Employee related provisions £m | Other provisions £m | Total £m | |
218 | 351 | 309 | 306 | 1,184 | |
(21) | (13) | (9) | (5) | (48) | |
266 | 172 | 177 | 124 | 739 | |
(4) | (55) | (33) | (143) | (235) | |
10 | – | – | – | 10 | |
(202) | (169) | (62) | (88) | (521) | |
– | – | – | – | – | |
– | – | – | – | – | |
– | (1) | 1 | 113 | 113 | |
– | (3) | – | – | (3) | |
267 | 282 | 383 | 307 | 1,239 | |
248 | 215 | 172 | 109 | 744 | |
19 | 67 | 211 | 198 | 495 | |
267 | 282 | 383 | 307 | 1,239 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Shionogi-ViiV Healthcare £m | Affinivax £m | Novartis Vaccines £m | Other £m | Total £m | |
5,359 | – | 477 | 33 | 5,869 | |
1,026 | – | 32 | 5 | 1,063 | |
(721) | – | (21) | – | (742) | |
(105) | – | (9) | – | (114) | |
5,559 | – | 479 | 38 | 6,076 | |
1,431 | 17 | 231 | (34) | 1,645 | |
– | 2 | – | – | 2 | |
– | 482 | – | – | 482 | |
(1,031) | – | (27) | – | (1,058) | |
(69) | – | (10) | – | (79) | |
5,890 | 501 | 673 | 4 | 7,068 | |
934 | 44 | (210) | – | 768 | |
– | (29) | – | – | (29) | |
(1,106) | – | (28) | – | (1,134) | |
– | – | (11) | – | (11) | |
5,718 | 516 | 424 | 4 | 6,662 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |||||
Shionogi-ViiV Healthcare £m | Affinivax £m | Novartis Vaccines £m | Shionogi-ViiV Healthcare £m | Affinivax £m | Novartis Vaccines £m | |
539 | N/A | 63 | 556 | N/A | 103 | |
807 | N/A | 94 | 834 | N/A | 154 | |
(539) | N/A | (62) | (555) | N/A | (103) | |
(808) | N/A | (92) | (833) | N/A | (153) | |
(174) | (12) | (26) | (199) | (7) | (55) | |
(256) | (18) | (38) | (292) | (10) | (80) | |
184 | 13 | 30 | 214 | 7 | 65 | |
281 | 19 | 47 | 328 | 11 | 101 | |
386 | 44 | 11 | 411 | 45 | 22 | |
604 | 69 | 17 | 645 | 71 | 36 | |
(330) | (38) | (8) | (347) | (38) | (19) | |
(478) | (54) | (12) | (501) | (56) | (27) | |
91 | N/A | 19 | 109 | N/A | 23 | |
144 | N/A | 30 | 171 | N/A | 36 | |
(79) | N/A | (16) | (91) | N/A | (19) | |
(113) | N/A | (22) | (130) | N/A | (28) | |
n/a | 75 | 21 | N/A | 82 | 20 | |
n/a | (75) | (10) | N/A | (82) | (10) |
2023 £m | 2022 £m | |
4 | 11 | |
254 | 83 | |
849 | 805 | |
1,107 | 899 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
16,329 | 10,659 | |
762 | 743 | |
153 | 138 | |
31 | 161 | |
– | 345 | |
5,446 | 6,322 | |
254 | 146 | |
5 | 395 | |
22,980 | 18,909 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Ordinary shares of 25p each pre-share consolidation Ordinary shares of 31¼p each post-share consolidation | Share premium | ||
Number | £m | £m | |
5,385,189,617 | 1,346 | 3,281 | |
1,825,442 | 1 | 20 | |
– | – | – | |
5,387,015,059 | 1,347 | 3,301 | |
(1,077,403,011) | – | – | |
1,731,293 | – | 25 | |
– | – | 114 | |
4,311,343,341 | 1,347 | 3,440 | |
802,642 | 1 | 9 | |
– | – | 2 | |
4,312,145,983 | 1,348 | 3,451 |
Net translation exchange included in: | ||||
Retained earnings £m | Fair value reserve £m | Non- controlling interests £m | Total translation exchange £m | |
(539) | (9) | (161) | (709) | |
(239) | – | (20) | (259) | |
(25) | – | – | (25) | |
(803) | (9) | (181) | (993) | |
109 | 4 | (28) | 85 | |
2 | – | – | 2 | |
(692) | (5) | (209) | (906) | |
263 | – | 112 | 375 | |
(429) | (5) | (97) | (531) | |
(41) | 19 | (25) | (47) | |
(34) | – | – | (34) | |
(504) | 14 | (122) | (612) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Retained earnings £m | Other reserves £m | Non- controlling interests £m | Total £m | |
(41) | 19 | – | (22) | |
(34) | – | – | (34) | |
– | (1) | – | (1) | |
– | 1 | – | 1 | |
– | 4 | – | 4 | |
– | – | (25) | (25) | |
– | (244) | – | (244) | |
– | 14 | – | 14 | |
71 | – | – | 71 | |
(41) | – | – | (41) | |
– | (40) | – | (40) | |
(45) | (247) | (25) | (317) |
Retained earnings £m | Other reserves £m | Non- controlling interests £m | Total £m | |
109 | 4 | – | 113 | |
2 | – | – | 2 | |
– | (18) | – | (18) | |
– | 9 | – | 9 | |
– | 14 | – | 14 | |
– | – | (28) | (28) | |
– | (754) | – | (754) | |
– | 56 | – | 56 | |
(786) | – | – | (786) | |
211 | – | – | 211 | |
– | (6) | – | (6) | |
(464) | (695) | (28) | (1,187) | |
375 | (19) | – | 356 | |
(89) | (714) | (28) | (831) |
Retained earnings £m | Other reserves £m | Non- controlling interests £m | Total £m | |
(239) | – | – | (239) | |
(25) | – | – | (25) | |
– | 5 | – | 5 | |
– | (8) | – | (8) | |
– | 12 | – | 12 | |
– | – | (20) | (20) | |
– | (911) | – | (911) | |
– | 131 | – | 131 | |
941 | – | – | 941 | |
(223) | – | – | (223) | |
454 | (771) | (20) | (337) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
ESOP Trust shares £m | Fair value reserve £m | Cash flow hedge reserve £m | Other reserves £m | Total £m | |
(195) | 1,302 | (31) | 2,129 | 3,205 | |
(1) | – | – | – | (1) | |
168 | – | – | – | 168 | |
– | (139) | – | – | (139) | |
– | (780) | 10 | – | (770) | |
(28) | 383 | (21) | 2,129 | 2,463 | |
(36) | 28 | 12 | – | 4 | |
– | (21) | 17 | – | (4) | |
– | – | (169) | – | (169) | |
– | (698) | 141 | – | (557) | |
(1,200) | – | – | – | (1,200) | |
911 | – | – | – | 911 | |
(353) | (308) | (20) | 2,129 | 1,448 | |
26 | (5) | (2) | – | 19 | |
– | 33 | – | – | 33 | |
– | – | 4 | – | 4 | |
– | – | 36 | – | 36 | |
– | (230) | (40) | – | (270) | |
(285) | – | – | – | (285) | |
324 | – | – | – | 324 | |
(288) | (510) | (22) | 2,129 | 1,309 |
2023 £m | 2022 £m | 2021 £m | |
6,308 | 5,619 | 4,637 | |
2,034 | 1,528 | 1,087 | |
(19) | 94 | (17) | |
2,015 | 1,622 | 1,070 |
2023 £m | 2022 £m | |
2,528 | 2,716 | |
3,330 | 3,354 | |
5,858 | 6,070 | |
(3,881) | (3,762) | |
(8,453) | (8,983) | |
(12,334) | (12,745) | |
(6,476) | (6,675) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
2,192 | 3,442 | 2,128 | |
(2) | (174) | (287) | |
(2,463) | (2,718) | (1,608) | |
(273) | 550 | 233 |
2023 £m | 2022 £m | 2021 £m | |
373 | 415 | 196 | |
398 | 480 | 224 | |
(648) | (611) | (570) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total £m | |
1,438 | |
2 | |
1 | |
96 | |
51 | |
148 | |
(1) | |
(103) | |
(136) | |
1,496 | |
– | |
109 | |
1,605 |
Business Acquisitions £m | Business Disposals £m | |
(1,605) | 68 | |
– | (19) | |
(17) | – | |
148 | – | |
(1,474) | 49 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Sierra Oncology £m | Affinivax £m | Total £m | |
1,497 | 1,467 | 2,964 | |
– | 30 | 30 | |
1 | 52 | 53 | |
60 | – | 60 | |
2 | 17 | 19 | |
175 | 109 | 284 | |
(1) | (55) | (56) | |
(40) | (77) | (117) | |
(259) | (236) | (495) | |
1,435 | 1,307 | 2,742 | |
162 | 965 | 1,127 | |
1,597 | 2,272 | 3,869 | |
1,597 | 1,790 | 3,387 | |
– | 482 | 482 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2022 £m | |
15,526 | |
3,853 | |
19,379 | |
(12,887) | |
3,038 | |
9,530 | |
554 | |
10,084 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
5,581 | 9,418 | |
(4,730) | (7,575) | |
851 | 1,843 | |
(235) | (263) | |
27.6% | 14.3% | |
616 | 1,580 | |
2,433 | – | |
7,651 | – | |
10,700 | 1,580 | |
205 | 511 | |
10,495 | 1,069 | |
260.6p | 26.7p |
Business acquisitions £m | Business disposals - demerger £m | Business disposals - other £m | |
(3,392) | – | – | |
– | – | (34) | |
284 | (933) | (9) | |
(3,108) | (933) | (43) | |
(79) | (141) | – | |
(3,187) | (1,074) | (43) |
Total £m | |
10 | |
10 | |
3 | |
1 | |
1 | |
5 | |
(16) | |
35 | |
24 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Business disposals £m | Associates and joint ventures disposals £m | |
43 | 277 | |
(51) | – | |
(8) | – | |
(1) | – | |
(17) | 277 |
2023 £m | 2022 £m | 2021 £m | |
5,308 | 4,921 | 3,516 | |
756 | 707 | 83 | |
5 | 2 | (33) | |
677 | 803 | 755 | |
1,082 | 1,061 | 1,034 | |
1,212 | 1,086 | 1,088 | |
467 | 481 | 529 | |
– | (36) | (47) | |
(12) | (185) | (539) | |
(1) | – | 36 | |
– | (1) | (8) | |
Decrease/(increase) in inventories | (424) | (269) | 51 |
(Increase) in trade receivables | (794) | (158) | (780) |
Increase/(decrease) in trade payables | (15) | 494 | 229 |
145 | (458) | (382) | |
(1,134) | (1,058) | (742) | |
492 | 1,628 | 1,063 | |
689 | (5) | 1,505 | |
(457) | (962) | (299) | |
307 | 346 | 343 | |
(107) | (283) | (31) | |
(100) | (170) | (122) | |
8,096 | 7,944 | 7,249 | |
– | 932 | 1,994 | |
8,096 | 8,876 | 9,243 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
(17,197) | (19,838) | (20,780) | |
(468) | (7,597) | (2,504) | |
(72) | (1) | (18) | |
(223) | (1,025) | – | |
2,116 | 5,074 | 2,304 | |
333 | (1,021) | (301) | |
144 | 1,594 | – | |
197 | 202 | 181 | |
50 | (24) | – | |
554 | (1,531) | 314 | |
(474) | (207) | (134) | |
2,157 | (4,536) | (158) | |
– | 7,177 | 1,100 | |
(15,040) | (17,197) | (19,838) |
At 1 January 2023 £m | Exchange £m | Other £m | Interest expense £m | Change in fair value £m | Reclass- ifications £m | Cash flow £m | At 31 December 2023 £m | ||
67 | (4) | 51 | – | – | – | (72) | 42 | ||
3,723 | (105) | – | – | – | – | (682) | 2,936 | ||
(298) | 6 | – | – | – | – | 214 | (78) | ||
3,425 | (99) | – | – | – | – | (468) | 2,858 | ||
(1,191) | 56 | – | – | – | – | 320 | (815) | ||
(2,146) | 48 | – | – | – | (1,669) | 2,116 | (1,651) | ||
(167) | 12 | (3) | – | – | (195) | 197 | (156) | ||
(150) | 21 | 3 | – | – | – | 13 | (113) | ||
(3,654) | 137 | – | – | – | (1,864) | 2,646 | (2,735) | ||
(16,194) | 469 | – | (19) | – | 1,669 | (79) | (14,154) | ||
(841) | 42 | (447) | – | – | 195 | – | (1,051) | ||
(17,035) | 511 | (447) | (19) | – | 1,864 | (79) | (15,205) | ||
(17,197) | 545 | (396) | (19) | – | – | 2,027 | (15,040) | ||
(207) | 1 | (29) | (693) | – | – | 766 | (162) | ||
8 | – | – | – | 343 | – | (335) | 16 | ||
(20,888) | 649 | (476) | (712) | 343 | – | 2,998 | (18,086) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
At 1 January 2022 £m | Exchange £m | Other £m | Interest expense £m | Change in fair value £m | Reclass- ifications £m | Demerger £m | Cash flow £m | At 31 December 2022 £m | |
61 | 7 | – | (1) | 67 | |||||
3,861 | 99 | 1 | – | – | – | 7,496 | (7,734) | 3,723 | |
(450) | 15 | – | – | – | – | – | 137 | (298) | |
3,411 | 114 | 1 | – | – | – | 7,496 | (7,597) | 3,425 | |
407 | 37 | – | – | – | – | (7,496) | 7,052 | – | |
3,818 | 151 | 1 | – | – | – | – | (545) | 3,425 | |
(252) | (30) | – | – | – | – | – | (909) | (1,191) | |
(2,596) | (174) | – | – | – | (4,426) | – | 5,050 | (2,146) | |
(173) | (14) | 5 | – | – | (186) | – | 201 | (167) | |
(52) | (2) | (9) | – | – | – | – | (87) | (150) | |
(3,073) | (220) | (4) | – | – | (4,612) | – | 4,255 | (3,654) | |
(72) | (3) | (15) | – | – | (3) | 1,559 | (1,466) | – | |
(3,145) | (223) | (19) | – | – | (4,615) | 1,559 | 2,789 | (3,654) | |
(19,760) | (1,386) | – | (43) | – | 4,426 | – | 569 | (16,194) | |
(725) | (59) | (243) | – | – | 186 | – | – | (841) | |
(20,485) | (1,445) | (243) | (43) | – | 4,612 | – | 569 | (17,035) | |
(87) | (777) | (6) | (4) | 48 | 3 | 10,059 | (9,236) | – | |
(20,572) | (2,222) | (249) | (47) | 48 | 4,615 | 10,059 | (8,667) | (17,035) | |
(19,838) | (2,287) | (267) | (47) | 48 | – | 11,618 | (6,424) | (17,197) | |
(244) | (5) | (33) | (865) | – | – | 92 | 848 | (207) | |
(22) | – | – | – | 670 | – | – | (640) | 8 | |
(23,983) | (2,450) | (301) | (912) | 718 | – | 11,710 | (5,670) | (20,888) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
AAA/Aaa £m | AA/Aa £m | A/A £m | BBB/Baa £m | BB+/Ba1 and below /unrated £m | Total £m | |
– | 28 | 1,815 | 55 | 44 | 1,942 | |
155 | – | – | – | – | 155 | |
839 | – | – | – | – | 839 | |
– | 42 | – | – | – | 42 | |
– | – | 130 | – | – | 130 | |
994 | 70 | 1,945 | 55 | 44 | 3,108 |
AAA/Aaa £m | AA/Aa £m | A/A £m | BBB/Baa £m | BB+/Ba1 and below /unrated £m | Total £m | |
– | – | 1,215 | 49 | 60 | 1,324 | |
146 | – | – | – | – | 146 | |
2,253 | – | – | – | – | 2,253 | |
– | 67 | – | – | – | 67 | |
– | – | 188 | – | – | 188 | |
2,399 | 67 | 1,403 | 49 | 60 | 3,978 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |||||
Notes | Carrying value £m | Fair value £m | Carrying value £m | Fair value £m | ||
b | 9 | 9 | 21 | 21 | ||
b | 3,829 | 3,829 | 3,789 | 3,789 | ||
42 | 42 | 67 | 67 | |||
1,942 | 1,942 | 1,324 | 1,324 | |||
a | 931 | 931 | 1,153 | 1,153 | ||
a,b | 2,541 | 2,541 | 2,327 | 2,327 | ||
a | 2,410 | 2,410 | 4,401 | 4,401 | ||
a,b | 18 | 18 | 13 | 13 | ||
a,b | 23 | 23 | 50 | 50 | ||
a,d,e | 98 | 98 | 165 | 165 | ||
a | 994 | 994 | 2,399 | 2,399 | ||
a,d,e | 32 | 32 | 25 | 25 | ||
12,869 | 12,869 | 15,734 | 15,734 | |||
d | (5,348) | (5,233) | (6,322) | (6,035) | ||
(10,456) | (10,762) | (12,017) | (11,930) | |||
(191) | (191) | (447) | (447) | |||
(148) | (148) | (443) | (443) | |||
(667) | (667) | (748) | (748) | |||
(1) | (1) | (2) | (2) | |||
f | (16,811) | (17,002) | (19,979) | (19,605) | ||
c | (13,383) | (13,383) | (14,065) | (14,065) | ||
c | (199) | (199) | (63) | (63) | ||
c | (54) | (54) | (84) | (84) | ||
a,c | (6,662) | (6,662) | (7,068) | (7,068) | ||
a,d,e | (78) | (78) | (77) | (77) | ||
a,d,e | (36) | (36) | (106) | (106) | ||
(37,223) | (37,414) | (41,442) | (41,068) | |||
(24,354) | (24,545) | (25,708) | (25,334) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Level 1 £m | Level 2 £m | Total £m | ||
Other investments designated at FVTOCI | 741 | – | 190 | 931 |
Trade and other receivables | – | 2,541 | – | 2,541 |
Current equity investments and other investments | 2,204 | – | 206 | 2,410 |
Other non-current assets | – | – | 18 | 18 |
Trade and other receivables | – | 23 | – | 23 |
Held for trading derivatives that are not in a designated and effective hedging relationship | – | 98 | – | 98 |
Cash and cash equivalents | 994 | – | – | 994 |
– | 32 | – | 32 | |
3,939 | 2,694 | 414 | 7,047 | |
Contingent consideration liabilities | – | – | (6,662) | (6,662) |
Held for trading derivatives that are not in a designated and effective hedging relationship | – | (78) | – | (78) |
– | (36) | – | (36) | |
– | (114) | (6,662) | (6,776) |
Level 1 £m | Level 2 £m | Total £m | ||
Other investments designated at FVTOCI | 823 | – | 330 | 1,153 |
Trade and other receivables | – | 2,327 | – | 2,327 |
Current equity investments and other investments | 4,087 | – | 314 | 4,401 |
Other non-current assets | – | – | 13 | 13 |
Trade and other receivables | – | 50 | – | 50 |
Held for trading derivatives that are not in a designated and effective hedging relationship | – | 165 | – | 165 |
Cash and cash equivalents | 2,399 | – | – | 2,399 |
– | 25 | – | 25 | |
7,309 | 2,567 | 657 | 10,533 | |
Contingent consideration liabilities | – | – | (7,068) | (7,068) |
Held for trading derivatives that are not in a designated and effective hedging relationship | – | (77) | – | (77) |
– | (106) | – | (106) | |
– | (183) | (7,068) | (7,251) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
(6,411) | (5,657) | |
– | 46 | |
(863) | (1,627) | |
(142) | 91 | |
– | (482) | |
1,145 | 1,137 | |
57 | 97 | |
(25) | (16) | |
(9) | – | |
(6,248) | (6,411) |
2023 | 2022 | |||||||||||
At FVTPL £m | At FVTOCI £m | Amortised cost £m | Financial instruments £m | Non- financial instruments £m | Total £m | At FVTPL £m | At FVTOCI £m | Amortised cost £m | Financial instruments £m | Non- financial instruments £m | Total £m | |
23 | 2,541 | 3,829 | 6,393 | 992 | 7,385 | 50 | 2,327 | 3,789 | 6,166 | 887 | 7,053 | |
18 | – | 9 | 27 | 1,557 | 1,584 | 13 | – | 21 | 34 | 1,160 | 1,194 | |
41 | 2,541 | 3,838 | 6,420 | 2,549 | 8,969 | 63 | 2,327 | 3,810 | 6,200 | 2,047 | 8,247 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |||||||||
At FVTPL £m | Amortised cost £m | Financial instruments £m | Non- financial instruments £m | Total £m | At FVTPL £m | Amortised cost £m | Financial instruments £m | Non- financial instruments £m | Total £m | |
– | (13,383) | (13,383) | (2,461) | (15,844) | – | (14,065) | (14,065) | (2,198) | (16,263) | |
– | (199) | (199) | (1,040) | (1,239) | – | (63) | (63) | (1,121) | (1,184) | |
(6,662) | – | (6,662) | – | (6,662) | (7,068) | – | (7,068) | – | (7,068) | |
– | (54) | (54) | (1,053) | (1,107) | – | (84) | (84) | (815) | (899) | |
(6,662) | (13,636) | (20,298) | (4,554) | (24,852) | (7,068) | (14,212) | (21,280) | (4,134) | (25,414) |
2023 Fair value | 2022 Fair value | ||||
Assets £m | Liabilities £m | Assets £m | Liabilities £m | ||
– | (2) | 5 | – | ||
32 | (34) | 20 | (106) | ||
32 | (36) | 25 | (106) | ||
98 | (78) | 163 | (76) | ||
– | – | 2 | (1) | ||
98 | (78) | 165 | (77) | ||
130 | (114) | 190 | (183) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | |||||
Net Notional value £m | Carrying value £m | Periodic change in value for calculating hedge ineffectiveness £m | |||
1.27 | USD | 145 | (1) | (1) | |
– | – | – | – | – | |
1.25 | USD | 35 | (1) | (1) | |
1.16 | EUR | (5) | – | – | |
175 | (2) | (2) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | |||||
Net notional value £m | Carrying value £m | Periodic change in value for calculating hedge ineffectiveness £m | |||
1.15 | EUR | 9,146 | (12) | 126 | |
181.42 | JPY | 133 | (1) | 28 | |
1.27 | USD | 2,633 | 8 | 97 | |
1.67 | CAD | 260 | 2 | 10 | |
1.66 | SGD | 167 | 1 | 7 | |
EUR | 148 | (148) | 12 | ||
– | – | – | – | ||
JPY | 236 | (235) | (3) | ||
EUR | 5,127 | (5,113) | 125 | ||
17,850 | (5,498) | 402 |
2023 | |||
Periodic change in value for calculating hedge ineffectiveness £m | Cumulative balance in cash flow hedge reserve/foreign currency translation reserve for continuing hedges £m | Balance in cash flow hedge reserve arising from hedging relationships for which hedge accounting is no longer applied £m | |
2 | (2) | – | |
(402) | (725) | – |
2022 | |||||
Net notional value £m | Carrying value £m | Periodic change in value for calculating hedge ineffectiveness £m | |||
1.23 | USD | 100 | 2 | 2 | |
1.16 | EUR | 50 | 2 | 2 | |
1.15 | EUR | 24 | 1 | 1 | |
1.14 | EUR | (7) | – | – | |
167 | 5 | 5 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2022 | |||||
Net notional value £m | Carrying value £m | Periodic change in value for calculating hedge ineffectiveness £m | |||
1.14 | EUR | 6,559 | (103) | (317) | |
160.90 | JPY | 194 | (3) | (9) | |
– | – | – | – | – | |
1.57 | CAD | 270 | 18 | 15 | |
1.59 | SGD | 174 | 2 | 1 | |
EUR | 293 | (293) | (4) | ||
EUR | 150 | (150) | (3) | ||
EUR | 6,341 | (6,322) | (300) | ||
13,981 | (6,851) | (617) |
2022 | |||
Periodic change in value for calculating hedge ineffectiveness £m | Cumulative balance in cash flow hedge reserve/foreign currency translation reserve for continuing hedges £m | Balance in cash flow hedge reserve arising from hedging relationships for which hedge accounting is no longer applied £m | |
(2) | 2 | – | |
(3) | 2 | – | |
– | |||
617 | (1,120) | – |
2023 | |||||||||
Amount reclassified to profit or loss | Amount reclassified to balance sheet | ||||||||
Hedging gains/(losses) recognised in reserves £m | Amount of hedge ineffectiveness recognised in profit or loss £m | Line item in profit or loss in which hedge ineffectiveness is included | Hedged future cash flows no longer expected to occur £m | Due to hedged item affecting profit or loss £m | Line item in profit or loss in which reclassification adjustment is included | Due to hedged item affecting balance sheet £m | Line item in balance sheet in which reclassification adjustment is included | ||
(41) | – | – | – | 37 | |||||
(1) | – | – | – | – | – | ||||
402 | – | – | 7 | – | – |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2022 | |||||||||
Amount reclassified to profit or loss | Amount reclassified to balance sheet | ||||||||
Hedging gains/(losses) recognised in reserves £m | Amount of hedge ineffectiveness recognised in profit or loss £m | Line item in profit or loss in which hedge ineffectiveness is included | Hedged future cash flows no longer expected to occur £m | Due to hedged item affecting profit or loss £m | Line item in profit or loss in which reclassification adjustment is included | Due to hedged item affecting balance sheet £m | Line item in balance sheet in which reclassification adjustment is included | ||
(5) | – | – | – | – | 8 | ||||
4 | – | – | (2) | – | – | ||||
(617) | – | – | 194 | Discontinued Operations (1) | – | – |
2023 | ||||||
Amount reclassified to profit or loss | ||||||
Hedging gains/(losses) recognised in reserves £m | Amount of hedge ineffectiveness recognised in profit or loss £m | Line item in profit or loss in which hedge ineffectiveness is included | Due to hedged future cash flows no longer expected to occur £m | Due to hedged item affecting profit or loss £m | Line item in profit or loss in which reclassification adjustment is included | |
– | – | – | 4 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2022 | ||||||
Amount reclassified to profit or loss | ||||||
Hedging gains/(losses) recognised in reserves £m | Amount of hedge ineffectiveness recognised in profit or loss £m | Line item in profit or loss in which hedge ineffectiveness is included | Due to hedged future cash flows no longer expected to occur £m | Due to hedged item affecting profit or loss £m | Line item in profit or loss in which reclassification adjustment is included | |
(23) | – | – | 3 |
Gross financial assets/ (liabilities) £m | Gross financial (liabilities)/ assets set off £m | Net financial assets/ (liabilities) per balance sheet £m | Related amounts not set off in the balance sheet £m | Net £m | |
6,394 | (1) | 6,393 | – | 6,393 | |
130 | – | 130 | (108) | 22 | |
(13,384) | 1 | (13,383) | – | (13,383) | |
(114) | – | (114) | 108 | (6) |
Gross financial assets/ (liabilities) £m | Gross Financial (liabilities)/ assets offset £m | Net financial assets/ (liabilities) £m | Related amounts not offset £m | Net balance £m | |
6,166 | – | 6,166 | – | 6,166 | |
190 | – | 190 | (163) | 27 | |
(14,065) | – | (14,065) | – | (14,065) | |
(183) | – | (183) | 163 | (20) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |
Total debt £m | Total £m | |
(2,657) | (3,785) | |
(1,434) | (1,714) | |
(1,475) | (1,490) | |
(740) | (1,505) | |
(2,350) | (748) | |
(3,031) | (4,736) | |
(5,124) | (6,001) | |
(16,811) | (19,979) | |
(15,847) | (18,355) | |
(964) | (1,624) | |
(16,811) | (19,979) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |
Increase/(decrease) in income £m | Increase/(decrease) in income £m | |
61 | 99 | |
97 | 155 | |
(4) | (7) | |
(7) | (12) | |
– | – | |
– | (1) |
2023 | 2022 | |
Increase/(decrease) in income £m | Increase/(decrease) in income £m | |
(52) | (84) | |
(76) | (121) | |
4 | 6 | |
5 | 9 | |
– | – | |
– | – |
2023 | 2022 | |
Increase/(decrease) in equity £m | Increase/(decrease) in equity £m | |
(209) | – | |
(327) | – | |
(1,372) | (1,290) | |
(2,160) | (2,034) |
2023 | 2022 | |
Increase/(decrease) in equity £m | Increase/(decrease) in equity £m | |
178 | – | |
258 | – | |
1,152 | 1,080 | |
1,662 | 1,557 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 | 2022 | |
(Increase)/decrease in net debt £m | (Increase)/decrease in net debt £m | |
(622) | (999) | |
(974) | (1,570) | |
386 | 11 | |
609 | 17 | |
(5) | 13 | |
(7) | 20 |
2023 | 2022 | |
(Increase)/decrease in net debt £m | (Increase)/decrease in net debt £m | |
531 | 846 | |
769 | 1,222 | |
(325) | (9) | |
(468) | (13) | |
4 | (12) | |
6 | (17) |
2023 | 2022 | |
Increase/(decrease) in income £m | Increase/(decrease) in income £m | |
41 | 36 | |
62 | 55 | |
(34) | (34) | |
(51) | (51) | |
(9) | (13) | |
(13) | (19) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Debt £m | Interest on debt £m | Lease liabilities £m | Finance charge on lease liabilities £m | Trade payables and other liabilities not in net debt £m | Total £m | ||
(2,660) | (547) | (156) | (41) | (14,526) | (17,930) | ||
(1,436) | (507) | (214) | (36) | (1,469) | (3,662) | ||
(1,477) | (466) | (134) | (31) | (1,150) | (3,258) | ||
(742) | (449) | (114) | (27) | (1,406) | (2,738) | ||
(2,359) | (399) | (88) | (23) | (940) | (3,809) | ||
(3,054) | (1,611) | (325) | (75) | (2,037) | (7,102) | ||
(5,172) | (1,467) | (176) | (21) | (1,043) | (7,879) | ||
(16,900) | (5,446) | (1,207) | (254) | (22,571) | (46,378) |
Debt £m | Interest on debt £m | Lease liabilities £m | Finance charge on lease liabilities £m | Trade payables and other liabilities not in net debt £m | Total £m | ||
(3,786) | (594) | (167) | (25) | (15,362) | (19,934) | ||
(1,717) | (570) | (201) | (22) | (1,097) | (3,607) | ||
(1,496) | (531) | (127) | (19) | (1,034) | (3,207) | ||
(1,508) | (489) | (97) | (15) | (1,277) | (3,386) | ||
(751) | (472) | (80) | (13) | (1,008) | (2,324) | ||
(4,765) | (1,810) | (201) | (41) | (2,641) | (9,458) | ||
(6,063) | (1,856) | (135) | (11) | (1,134) | (9,199) | ||
(20,086) | (6,322) | (1,008) | (146) | (23,553) | (51,115) |
2023 | 2022 | ||||||
Gross cash inflows | Gross cash outflows | Gross cash inflows | Gross cash outflows | ||||
Foreign exchange forward contracts and swaps £m | Foreign exchange forward contracts and swaps £m | Foreign exchange forward contracts and swaps £m | Foreign exchange forward contracts and swaps £m | ||||
31,961 | (31,944) | 24,418 | (24,410) | ||||
31,961 | (31,944) | 24,418 | (24,410) |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Shares Number (000) | Weighted fair value | ADS Number (000) | Weighted fair value | |
28,874 | 16,116 | |||
11,220 | £13.28 | 6,358 | $36.68 | |
(10,074) | (5,240) | |||
(1,776) | (1,705) | |||
28,244 | 15,529 | |||
10,987 | £13.00 | 6,133 | $30.64 | |
(9,538) | (4,919) | |||
(1,718) | (1,314) | |||
27,975 | 15,429 | |||
11,548 | £12.79 | 6,449 | $31.65 | |
(8,599) | (4,856) | |||
(1,144) | (797) | |||
29,780 | 16,225 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 Grant | 2022 Grant | 2021 Grant | |
4.57% | 3.37% | 0.74% | |
4.0% | 3.3% | 3.8% | |
34% | 36% | 27% | |
3 years | 3 years | 3 years | |
£11.20 | £11.39 | £12.07 |
Savings-related share option schemes | ||
Number 000 | Weighted exercise price | |
6,196 | £11.13 | |
£10.34 | — £14.15 | |
£14.32 | ||
1.9 years |
2023 | 2022 | |
58,817 | 59,814 | |
£m | £m | |
18 | 19 | |
288 | 353 | |
853 | 861 | |
2023 | 2022 | |
– | 65 | |
£m | £m | |
– | – | |
– | 1 | |
– | 1 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
% | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
78.3 | |
78.3 | |
78.3 |
% | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
78.3 | |
78.3 | |
78.3 | |
78.3 |
% | |
100 |
% | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
78.3 |
% | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
100 | |
82.6 | |
75 | |
100 | |
100 | |
100 | |
78.3 | |
78.3 | |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Notes | 2023 £m | 2023 £m | 2022 £m | 2022 £m | |
E | 22,631 | 22,881 | |||
F | 22,657 | 17,748 | |||
17 | 20 | ||||
22,674 | 17,768 | ||||
G | (740) | (545) | |||
(740) | (545) | ||||
21,934 | 17,223 | ||||
44,565 | 40,104 | ||||
H | (20) | (13) | |||
I | (388) | (645) | |||
44,157 | 39,446 | ||||
J | 1,348 | 1,347 | |||
J | 3,451 | 3,440 | |||
K | 1,420 | 1,420 | |||
33,239 | 50,596 | ||||
6,643 | 710 | ||||
20 | – | ||||
283 | 1,089 | ||||
– | (15,689) | ||||
(2,247) | (3,467) | ||||
K | 37,938 | 33,239 | |||
44,157 | 39,446 |
Share capital £m | Share premium account £m | Other reserves £m | Retained earnings £m | Total equity £m | |
1,347 | 3,301 | 1,420 | 50,596 | 56,664 | |
– | – | – | 710 | 710 | |
– | – | – | 1,089 | 1,089 | |
– | – | – | (3,467) | (3,467) | |
– | – | – | (15,689) | (15,689) | |
– | 139 | – | – | 139 | |
1,347 | 3,440 | 1,420 | 33,239 | 39,446 | |
– | – | – | 6,643 | 6,643 | |
– | – | – | 283 | 283 | |
– | – | – | (2,247) | (2,247) | |
1 | 11 | – | 20 | 32 | |
1,348 | 3,451 | 1,420 | 37,938 | 44,157 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
15,526 | |
163 | |
15,689 |
2023 £m | 2022 £m | |
654 | 637 | |
18 | 18 | |
17,888 | 17,888 | |
33 | 33 | |
2,476 | 2,493 | |
21,069 | 21,069 | |
1,139 | 1,139 | |
423 | 673 | |
22,631 | 22,881 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | |
1 | 2 | |
22,367 | 17,422 | |
22,368 | 17,424 | |
289 | 324 | |
22,657 | 17,748 |
2023 £m | 2022 £m | |
349 | 396 | |
35 | 28 | |
201 | 18 | |
155 | 103 | |
740 | 545 |
2023 £m | 2022 £m | |
13 | 12 | |
28 | 43 | |
(21) | (42) | |
20 | 13 |
2023 £m | 2022 £m | |
388 | 645 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Ordinary shares | Share premium account | ||
Number | £m | £m | |
5,387,015,059 | 1,347 | 3,301 | |
(1,077,403,011) | – | – | |
1,731,293 | – | 25 | |
– | – | 114 | |
4,311,343,341 | 1,347 | 3,440 | |
802,642 | 1 | 9 | |
– | – | 2 | |
4,312,145,983 | 1,348 | 3,451 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
273 | |
275 | |
277 | |
281 | |
284 | |
295 | |
297 | |
298 | |
298 | |
299 | |
301 | |
303 | |
306 | |
315 |
GSK Annual Report 2023 | ||||||||
Total | US | Europe | International | ||||||||||||
2023 | Growth | 2023 | Growth | 2023 | Growth | 2023 | Growth | ||||||||
£m | £% | CER% | £m | £% | CER% | £m | £% | CER% | £m | £% | CER% | ||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Total | US | Europe | International | ||||||||||||
2022 | Growth | 2022 | Growth | 2022 | Growth | 2022 | Growth | ||||||||
£m | £% | CER% | £m | £% | CER% | £m | £% | CER% | £m | £% | CER% | ||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
15,820 | 14,542 | 11,914 | |
6,564 | 6,348 | 5,370 | |
7,944 | 8,434 | 7,412 | |
30,328 | 29,324 | 24,696 |
2023 £m | 2022 £m | 2021 £m | |
9,864 | 7,937 | 6,778 | |
10,244 | 11,269 | 8,251 | |
10,220 | 10,118 | 9,667 | |
30,328 | 29,324 | 24,696 |
2023 £m | 2022 £m | 2021 £m | |
3,446 | 2,958 | 1,721 | |
1,260 | 1,116 | 961 | |
1,238 | – | – | |
504 | 714 | 679 | |
3,266 | 3,085 | 2,970 | |
150 | 64 | 447 | |
2023 £m | 2022 £m | 2021 £m | |
6,444 | 5,749 | 4,777 | |
3,025 | 2,609 | 2,027 | |
731 | 602 | 489 | |
44 | 2,309 | 958 | |
10,244 | 11,269 | 8,251 |
2023 £m | 2022 £m | 2021 £m | |
2023 £m | 2022 £m | 2021 £m | |
30,328 | 29,324 | 24,696 | |
5,308 | 4,921 | 3,516 | |
– | 3,049 | 1,580 | |
– | 7,651 | – | |
– | 10,700 | 1,580 | |
5,308 | 15,621 | 5,096 | |
pence | pence | pence | |
121.6p | 110.8p | 82.9p | |
– | 260.6p | 26.7p | |
121.6p | 371.4p | 109.6p | |
119.9p | 109.2p | 81.8p | |
– | 257.0p | 26.4p | |
119.9p | 366.2p | 108.2p |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £m | 2022 £m | 2021 £m | |
2023 £m | 2022 £m | 2021 £m | |
pence | pence | pence | |
121.6p | 110.8p | 82.9p | |
13.9p | 14.6p | 15.2p | |
7.5p | 5.8p | 6.6p | |
7.4p | 5.9p | 8.7p | |
6.9p | 34.1p | 18.1p | |
(2.2)p | (31.5)p | (21.2)p | |
155.1p | 139.7p | 110.3p |
% | % | % | |||
Return on capital employed | 53.0 | n/m | 25.8 |
2023 | 2022 | 2021 | |||
2023 | 2022 | 2021 | |||
12,205 | 11,946 | 14,289 | |||
32,675 | 31,800 | 38,809 | |||
25,332 | 25,654 | 36,998 | |||
70,212 | 69,400 | 90,096 | |||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Achieved regulatory review milestones | |||||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
31 December 2023 | 23 February 2024 | |||
Percentage of total voting rights(1) | Percentage of total voting rights(1) | |||
231,975,400 (2) | 5.69% | 231,975,400 (2) | 5.69% | |
253,464,108 (3) | 5.04% | 253,464,108 (3) | 5.04% |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
2023 £ | 2022 £ | 2021 £ | |
14.51 | 16.25 | 13.42 | |
14.50 | 14.38 | 16.07 | |
(0.06)% | (12)% | 20% | |
15.36 | 18.31 | 16.19 | |
13.16 | 12.96 | 11.91 |
Ordinary Shares | ADS | |||
UK£ per share | US$ per share | |||
High | Low | High | Low | |
16.78 | 15.86 | 33.31 | 31.90 | |
15.82 | 14.80 | 40.10 | 37.51 | |
14.62 | 14.19 | 37.10 | 35.88 | |
14.26 | 13.82 | 34.17 | 35.99 | |
15.21 | 14.33 | 37.56 | 34.56 | |
13.36 | 13.74 | 38.07 | 34.41 | |
15.21 | 13.82 | 37.56 | 34.17 | |
15.36 | 13.16 | 38.07 | 33.81 | |
15.23 | 13.46 | 38.32 | 33.60 | |
15.03 | 13.77 | 36.43 | 33.50 | |
14.92 | 13.20 | 37.92 | 30.00 | |
18.23 | 12.96 | 44.53 | 28.67 | |
18.31 | 16.72 | 47.70 | 41.98 | |
17.27 | 15.01 | 47.66 | 40.17 | |
16.19 | 13.80 | 44.44 | 38.13 | |
14.68 | 12.92 | 39.17 | 33.42 | |
18.19 | 14.36 | 47.32 | 37.83 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Number of accounts | % of total accounts | % if total shares | Number of shares | |
46,607 | 75.48 | 0.32 | 13,747,981 | |
11,313 | 18.32 | 0.55 | 23,914,101 | |
2,843 | 4.60 | 1.21 | 52,308,743 | |
654 | 1.06 | 5.31 | 229,085,155 | |
328 | 0.53 | 92.60 | 3,993,090,003 | |
61,745 | 100.00 | 100.00 | 4,312,145,983 | |
2,153 | 3.49 | 61.86 | 2,667,435,551 | |
59,590 | 96.51 | 13.86 | 597,606,148 | |
1 | 0.00 | 19.71 | 850,036,115 | |
1 | 0.00 | 4.57 | 197,068,169 | |
61,745 | 100.00 | 100.00 | 4,312,145,983 |
pence | US$ (1) | |
58 (2) | ||
61.25 (3) | 2.00 | |
80 | 2.16 | |
80 | 2.12 | |
80 | 2.01 |
Ex-dividend date | ADS Ex- dividend date | Record date | Payment date | |
22 February 2024 | 22 February 2024 | 23 February 2024 | 11 April 2024 | |
16 May 2024 | 16 May 2024 | 17 May 2024 | 11 July 2024 | |
15 August 2024 | 16 August 2024 | 16 August 2024 | 10 October 2024 | |
9 January 2025 | ||||
20 February 2025 | 21 February 2025 | 21 February 2025 | 10 April 2025 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
Burroughs Wellcome International Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 543757 |
Domantis Limited | Ordinary | 100.00% | GSK Medicines Research Centre, Gunnels Wood Road, Stevenage SG1 2NY, United Kingdom | 3907643 |
Edinburgh Pharmaceutical Industries Limited (ii) | Ordinary; Preference; | 100.00% | Shewalton Road, Irvine, Ayrshire, KA11 5AP, United Kingdom | SC005534 |
Eskaylab Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 99025 |
Glaxo Wellcome UK Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 480080 |
Glaxochem (UK) Unlimited | Ordinary; Ordinary B; Ordinary C | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 4299472 |
GlaxoSmithKline Intellectual Property (No.3) Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 11480952 |
GlaxoSmithKline Intellectual Property (No.4) Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 11721880 |
GlaxoSmithKline Intellectual Property (No.5) Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 11959399 |
GlaxoSmithKline International Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 2298366 |
GSK GP 1 Limited (iv) | A Shares; B Shares | 100.00% | 50 Lothian Road, Festival Square, Edinburgh, Scotland, EH3 9WJ, United Kingdom | SC721605 |
GSK GP 2 Limited (iv) | Ordinary | 100.00% | 50 Lothian Road, Festival Square, Edinburgh, Scotland, EH3 9WJ, United Kingdom | SC721606 |
GSK LP Limited (i)(iv) | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 13879411 |
Montrose Fine Chemical Company Ltd. | Ordinary | 100.00% | Shewalton Road, Irvine, Ayrshire, KA11 5AP, United Kingdom | SC190635 |
PHIVCO UK II Limited | Ordinary | 78.30% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 6944229 |
PHIVCO UK Limited | Ordinary | 78.30% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 6944223 |
Smith Kline & French Laboratories Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 52207 |
SmithKline Beecham (Export) Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 2860752 |
SmithKline Beecham (H) Limited | Non-cumulative Non-redeemable; Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 3296131 |
SmithKline Beecham (Investments) Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 302065 |
SmithKline Beecham Marketing and Technical Services Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 494385 |
SmithKline Beecham Nominees Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 503868 |
SmithKline Beecham Overseas Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 2552828 |
SmithKline Beecham Pension Plan Trustee Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 3425311 |
Stiefel Laboratories (U.K.) Ltd | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 831160 |
Tesaro UK Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 7890847 |
The Wellcome Foundation Limited | Ordinary | 100.00% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 194814 |
ViiV Healthcare Overseas Limited | Ordinary | 78.30% | 980 Great West Road, Brentford, Middlesex, TW8 9GS, England | 7027385 |
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||
| | Governance and remuneration | | | Financial statements | | | Investor information | GSK Annual Report 2023 | ||