London, June 24, 2026, 12:19 BST
GSK traded 0.2% higher at 1,961.5 pence by 12:11 BST Wednesday, sitting only 0.53% above the average purchase price in its most recent weekly buyback. New filings revealed seven non-executive directors picked up ordinary shares or U.S.-listed depositary shares. The FTSE 100 was up 0.08%.
GSK rose 1.71% Tuesday as the FTSE 100 slipped 0.09%. Volume was light at 4.8 million shares, under the 50-day average of 7.5 million. The stock finished 14.22% off its February 18 peak of 2,282 pence.
GSK bought back 1,101,889 shares through Citigroup from June 15 to June 19, spending £21.50 million at an average price of 1,951.18 pence per share. Daily volumes and prices were disclosed. Since May 11, GSK has bought 8,448,125 shares. Citi picked the timing of trades under preset limits in the non-discretionary deal.
GSK chair Sir Jonathan Symonds picked up 1,550 ordinary shares at 1,935.24 pence each on June 19, putting in £29,996. Another six non-executive directors bought 6,124 American Depositary Shares at $50.6908 apiece on June 22, for $310,430 in total. ADSs represent GSK stock in the U.S. No reason was given in the filing for the directors’ buys. GSK’s London shares on Wednesday traded 1.36% above the price Symonds paid.
The difference is key. The company’s trades were programmed, not mixed with directors’ purchases. GSK spent £1.716 billion, buying back 109 million shares by March 31 as part of its £2 billion buyback plan. The programme runs through the second quarter.
GSK directors bought shares two weeks after the company said it would buy Nuvalent for $10.6 billion. The outlay, after accounting for Nuvalent’s cash, stands at £7.1 billion—about 9% of GSK’s market cap. GSK offered Nuvalent holders a 40% premium over the previous close. CEO Luke Miels called the deal an “immediate new sales growth opportunity.” GSK expects the acquisition to boost operating profit in 2027, and benefit adjusted EPS in 2029. GSK
Still, near-term risk remains for the investment. Nuvalent’s two main lung-cancer drugs are waiting on U.S. approval, with FDA decisions due in September and November. Miels described the buy as “essentially three products in one.” Verso Investment Management’s James Eugene said GSK will have to take business from Pfizer’s Lorbrena and Roche’s Alecensa. The debt-heavy acquisition could reduce adjusted earnings per share by a low-single-digit percentage through 2028. Reuters
GSK is set to release its Q2 numbers and a portfolio growth update on July 28 at 2 p.m. BST.
