GSK's Specialty Medicines Drive Growth Amid Looming HIV Patent Cliff

GSK's Specialty Medicines segment, accounting for over 40% of sales, grew 14% in H1 2026 driven by HIV, respiratory, and oncology products. The company is accelerating R&D with over 20 phase III starts planned for 2026. However, GSK faces a significant challenge as dolutegravir patents expire in 2028-2029, threatening its HIV franchise which generated £2.74 billion in H1 2026. GSK is relying on long-acting HIV injectables and next-generation pipeline products to offset future generic competition.