London, July 4, 2026, 17:01 BST
- GSK finished Friday at 2,015p, up 0.55%. The FTSE 100 ended up 0.25%. London markets were closed Saturday.
- Shares ended the week up 1.61%, close to the FTSE 100’s 1.63% rise, though most of the gain came from a single, high-volume session.
- Nuvalent faces a July 14 tender deadline, while GSK has Q2 results and a portfolio-growth event set for July 28.
GSK plc (LON:GSK) finished the week at 2,015p, closing at the top of its range for the past month. Shares jumped 3.83% on Thursday, then added another 0.55% on Friday. Market cap closed around £80.71 billion. GSK showed a P/E ratio of 11.65 and dividend yield of 3.28%, according to Hargreaves Lansdown.
Investors shouldn’t just look at GSK’s weekly gain. The move came in the pattern of trading. GSK tracked the FTSE 100 for most of the week, but Thursday saw about a third of the five-day volume. Friday volume dropped to 2.55 million shares, down 76% from the week’s average.
| Date | GSK close | GSK daily move | GSK volume | FTSE 100 close | FTSE 100 daily move |
|---|---|---|---|---|---|
| Jun. 29 | 1,979.50p | -0.18% | 9.72 mln | 10,484.22 | -0.23% |
| Jun. 30 | 1,981.00p | +0.08% | 13.96 mln | 10,497.12 | +0.12% |
| Jul. 1 | 1,930.00p | -2.57% | 8.82 mln | 10,478.34 | -0.18% |
| Jul. 2 | 2,004.00p | +3.83% | 17.57 mln | 10,652.87 | +1.67% |
| Jul. 3 | 2,015.00p | +0.55% | 2.55 mln | 10,679.03 | +0.25% |
Historical price data for GSK and the FTSE 100 is from Investing.com.
This matters because GSK’s rally is now hitting a bigger test than just momentum: how much of its 2031 sales plan investors want to price in before the company updates its portfolio plans. GSK has set a 2031 sales target above £40 billion. Company-compiled broker consensus as of May 26, before GSK bought Nuvalent, put expected 2031 turnover at £34.879 billion. There’s still more than a £5.1 billion gap.
| Measure | Figure | Investor read |
|---|---|---|
| GSK sales goal for 2031 | More than £40 bln | Company looking for this |
| Broker average estimate for 2031 | £34.879 bln | Consensus before Nuvalent deal |
| Shortfall to target | More than £5.1 bln | Risk in the models |
| 2026 broker consensus | £33.667 bln | Used as the base in GSK consensus |
| Consensus growth rate from 2026 to 2031 | 3.6% total | Bottom end for sales growth |
GSK’s $10.6 billion deal to acquire Nuvalent Inc NASDAQ:NUVL is now the key swing item on that bridge. The company said the purchase will start adding to revenue growth from 2027, with core operating profit also getting a boost that year. Core EPS gets a lift in 2029 but will see low single-digit dilution through 2026 to 2028. Chief Executive Luke Miels said Nuvalent’s top two drugs “could launch this year if approved by the FDA.” GSK
Nuvalent’s tender offer is set to expire right after 11:59 p.m. Eastern Time on July 14, unless GSK extends it. GSK is set to report Q2 earnings and a portfolio growth update on July 28 in London, with an investor and analyst event at 2:00 p.m. BST.
GSK’s buyback is done now. The company said June 29 it finished its up to £2 billion repurchase plan, snapping up 123,939,156 ordinary shares since Feb. 24, 2025. After the latest buys, GSK held 270,881,064 shares in treasury, which is 6.70% of voting rights, leaving 4,045,395,364 voting rights still out.
Shares are up for the week but still sit 11.7% under the Feb. 18 52-week high of 2,282p. The buyback’s over, so the falling share count effect is gone. All eyes now turn to the July 28 event for signs on the sales-gap story.
Skepticism lingers. GSK’s first-quarter results in April got pushback from James Eugene, research analyst at Verso Investment Management, who told Reuters the drop in the stock was down to “quality concerns around the earnings beat.” He said the beat was “more modest than the numbers suggest.” Reuters
GSK heads into the week trading near 2,015p, buyback finished, with two July dates on the radar: July 14 is the Nuvalent tender deadline and Q2 portfolio details hit July 28.
