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1、1Inside this reportStrategic report1Ahead Together2Business model42024 performance and keyperformance indicators6Chairs statement8CEOs statement10Our external environment12Research and development32Commercial operations46Responsible business58Our culture and people62Risk management and disclosuresta

2、tements82Group financial reviewCorporate governance113The Board andGSKLeadershipTeam119Chairs governance statement122Corporate governance architecture125Board activities134Board committee reports146Remuneration report176Remuneration policy185Directors reportFinancial statements188Directors statement

3、 of responsibilities190Independent auditors report204 Financial statements208 Notes to the financial statements291Financial statements of GSK plc prepared under UK GAAPInvestor information297Financial record301Product development pipeline307Principal risks and uncertainties319Share capital and contr

4、ol321Dividends322Financial calendar 2025322Annual General Meeting 2025323Tax information for shareholders325Shareholder services and contacts USlaw and regulation330Group companies339Glossary of terms How to navigate this reportPage reference for more information withinthis Annual ReportVisit for mo

5、re information Our supplementsOur Responsible Business Performance Report is available on Front cover image:LungsAs well as supplying vaccines to help protect people from respiratory infections,we are developing treatments that could transform the standard ofcare for people affected by conditions in

6、cluding asthma and chronic obstructive pulmonary disease(COPD).Our pipeline also includes potential new approaches for unmet lung cancer needs.Cautionary statementSee the inside back cover of this document for the cautionary statement regardingforward-looking statements.Non-IFRS measuresWe use a num

7、ber of adjusted,non-International Financial Reporting Standards(IFRS)measures to report the performance of our business.Total reported results represent the Groups overall performance under IFRS.Core results and other non-IFRS measures may be considered in addition to,but not as a substitute for ors

8、uperior to,information presented in accordance with IFRS.Core results andother non-IFRS measures are defined on pages 87 and 88 and reconciliations tothe nearest IFRS measures are on pages 98 to 100.for health impact+shareholder returns+thriving peopleOur strategyWe prevent and treat disease with sp

9、ecialty medicines,vaccinesand general medicines.We focus on the science of the immune system and advanced technologies,investing in four core therapeutic areas respiratory,immunology and inflammation;oncology;HIV;and infectious diseases to impact health at scale.We operate responsibly for all our st

10、akeholders by prioritising Innovation,Performance and Trust.Read about how our business model delivers our strategy on page 2Our cultureWe are ambitious for patients,accountable for impact and we do the right thing.Read about our culture and people on page 58GSK Annual Report 20241Our purposeWe unit

11、e science,technology andtalent to get aheadof disease togetherAs a focused biopharma company,we discover,develop and deliver medicines and vaccines.We aim to positively impact the health of 2.5 billion people by the end of the decade.Central to our successare our people:expertsin science,technology,

12、manufacturing and commercialisation.68,600GSK people across 75 countries worldwide37manufacturing sites6.4bnR&D investment in 202418,000suppliers working directlywith GSK.who are identifying,researching,developing and delivering.Specialty MedicinesOur specialty medicines prevent andtreat diseases,fr

13、om HIV,cancer and asthma to immune-inflammation diseases like lupus.Many are first or best-in-class.Read more on page 34General MedicinesOur broad portfolio ofgeneral medicines,from inhalers for asthma and COPD to antibiotics,improve life for millions of people around the world.Many are market leade

14、rs.Read more on page 40VaccinesWe have one of the broadest portfolios of vaccines in the industry,targeting infectious diseases at every stage of life,helping to protect people from RSV,meningitis,shingles,hepatitis andmanymore.Read more on page 37.products that prevent and change the course of dise

15、ase inourfour core therapeutic areas.Respiratory,immunology and inflammation Were harnessing our deep knowledge of inflammatory mechanisms and the science of the immune system to redefine the future of respiratory medicine and target lung,liver and kidney disease.Read more on page 15HIVWere leaders

16、in HIV,focused onendingthe global epidemic.Wehavean industry-leading pipeline,driven by patient insights.Read more on page 22OncologyOur ambition is to help increase overallquality of life,maximise survival and change the course of disease,expanding from our current focus on blood and womens cancers

17、 into lung and gastrointestinal cancers,as well asother solid tumours.Read more on page 18Infectious diseasesOur infectious diseases pipeline and portfolio,including HIV,isthebroadest inthe industry.Read more on page 24Strategic reportCorporate governanceFinancial statementsInvestor informationGSK A

18、nnual Report 2024Business model2using advancedtechnologiesPipelineAt every step of the R&D process,we are using data tech,including AI,and platform technologies to befaster,more effective andmore predictive in discovering and developing innovative medicines and vaccines.Read how technology enables o

19、ur R&D on page 28PerformanceWe use technology to reach people and patients better and faster through smart manufacturing;helping patients and their carers to manage their conditions;and empowering our people to do their bestwork.PartnershipWe collaborate in new ways across the technology and biotech

20、 industries and academia,so that we canwork with the latest advances in expertise and technology to get ahead ofdisease together.steered by our long-term priorities.InnovationWe develop and launch newmedicines and vaccineswhere they areneeded,with better,fasterand smarter R&D.Read more about our R&D

21、onpage 12PerformanceDriven by our innovation,we have delivered consistent sales and profit growth and improved our long-term outlooks.Read about our commercial operations on page 32TrustWe focus on issues that matter most to our business,our stakeholders,and society,and where we can have the greates

22、t impact.Read more in Responsible Business on page 46creating value for.Patients2bnestimated patients reached between 2021 and 20241Shareholders61pper share dividend Society and the economy1.3bncorporate income tax paid;in addition we pay duties,levies,transactional and employment taxesPeople85%of G

23、SK people surveyed agree that their job gives them the opportunity to do challenging and interesting work.and enabling reinvestment toget ahead of diseaseThe returns we make set us up to reinvest in discovering and developing new medicines and vaccines to prevent and change the course of disease.Hel

24、ping people to live healthier lives eases pressure on health systems and supports economic prosperity.Being a responsible business is an integral part of our strategy and culture.Read more on page 46Our strategy is supported by a robust framework for monitoring and managing risk,described on pages 6

25、2Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Business model continued3(1)We believe that we are on track to achieve our ambition of reaching 2.5 billion people by the end of the decade.Our estimated patient reach figure from 2021 to the end of 20

26、24 is at least 2 billion people,excluding patient reach for albendazole donations in 2024 as this data is not yet available.For more detail see Access on page 48 and for more detail on our methodology see our Responsible Business Performance Report.FinancialWe delivered another year of excellent per

27、formance in 2024,with strong sales and core operating profit growth driven by accelerating momentum of our specialty medicines portfolio.Group turnover(bn)Turnover by product groups(bn)31.4bnAER 3%CER 7%Total operating profit(bn)Core operating profit(bn)4.0bnAER-40%CER-33%9.1bnAER 4%CER 11%12024:Tot

28、al operating profit was lower primarily due to a charge of 1.8 billion for the Zantac settlement.2024 growth excluding COVID-19 solutions 6%AER 13%CERTotal earnings per share(p)Core earnings per share(p)63.2pAER-48%CER-40%159.3pAER 3%CER 10%22024:Total EPS was lower primarily due to a charge of 1.8

29、billion for the Zantac settlement.2024 growth excluding COVID-19 solutions 5%AER 12%CERCash generated from operations(bn)Free cash flow(bn)7.9bn2.9bnWe use a number of adjusted,non-IFRS,measures to report the performance of our business.Core results and other non-IFRS measures may be considered in a

30、ddition to,but not as a substitute for or superior to,information presented in accordance with IFRS.Core results and other non-IFRS measures are defined on pages 87 and 88.AER actual exchange rate;CER constant exchange rate.Excluding COVID-19 solutions as defined on page 90.(1)Core operating profit+

31、11%(with further positive impact of+2%excluding COVID-19 solutions)at CER.(2)Core EPS+10%(with further positive impact of+2%excluding COVID-19 solutions)at CER.Key performance indicator Linked to executive remuneration.See pages 156 to 165 for more detailsStrategic reportCorporate governanceFinancia

32、l statementsInvestor informationGSK Annual Report 20242024 performance and KPIs429.330.331.4202220232024l Specialty Medicines11.8bn AER 15%CER 19%l Vaccines9.1bn AER-7%CER-4%l General Medicines10.4bn AER 2%CER 6%6.46.74.02022202320248.28.89.1202220232024110.8p121.6p63.2p202220232024139.7p155.1p159.3

33、p2022202320247.98.17.92022202320243.33.42.9202220232024Research and developmentWe continued to strengthen our late-stage pipeline with organic R&D delivery and targeted business development,supporting future growth.12bn7119innovation sales of products launched,or with major lifecycle innovation expa

34、nsion,in the last five yearsassets in the pipelineassets in phase III/registration13512positive phase III readoutsmajor product approvals expectedin 20251new collaborations and acquisitions,including with Elsie Technologies and Flagship PioneeringThe pipeline value and progress are not reported exte

35、rnally because of their commercial sensitivity.Read more about our R&D on pages 12 to 31Responsible businessWe are committed to getting ahead of issues that matter for society and for the long-term performance of our company.Our Responsible Business Performance Rating tracks progress across our six

36、focus areas:access;global health and health security;environment ;inclusion and diversity ;ethical standards;and product governance.91%2nd12%of our Responsible Business Performance Rating metrics met or exceeded in 2024in the Access to Medicine Index(ATMI)among 20 of the worlds largest pharmaceutica

37、l companiesreduction in operational carbonemissions since 2023(Scope 1&2)Read more about our performance across our six focus areas on pages 46 to 56CultureWe measure progress on embedding our culture through our employee surveys.Our employee engagement score remained high at 81%in 2024.Read more ab

38、out our culture and people on page 58(1)Penmenvy,our 5-in-1 meningococcal vaccine,was approved in the US in February 2025Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 20242024 performance continued5Another year of strong performance and meaningful R&D

39、progress2024 provided further evidence that Emma and her executive team have seized the opportunity of the demerger to make fundamental improvements to GSKs operational performance,competitiveness and pipeline.Our long-term conviction remains that changing population demographics and disease pattern

40、s mean that GSKs purpose to get ahead of disease matters more than ever.By delivering innovative new medicines and vaccines to prevent and change the course of disease,GSK is creating sustained value for patients,healthcare systems and society at large.Over time,we are determined that this will also

41、 translate into sustained increased value for shareholders.Strategic progressGSK continues to perform to a new standard.2024 marked the third consecutive year of strong sales and core operating profit and earnings per share growth.We have built a much stronger platform for GSK to deliver consistent

42、and dependable performance,underpinned by a new resilience and sales mix across the portfolio.This was demonstrated in 2024,with strong performance delivered despite some challenges in Vaccines.These were outweighed by strong growth across our Specialty Medicines business,with our Respiratory/Immuno

43、logy,Oncology and HIV franchises all registering double-digit sales growth.The first phase of GSKs transformation,since the demerger,has built a foundation of consistent execution and delivery.Our medium-and longer-term outlooks also continue to strengthen,with total sales in 2031 on a risk adjusted

44、 basis now expected to be more than 40 billion.1 The priority now is to build on this foundation as GSK moves into the second phase of its transformation,focused on executing pipeline delivery,realising our ambitious 2031 revenue targets and preparing for the next wave of innovation.Shareholder retu

45、rnsEqually,the Board recognises that the value of GSK shares does not currently reflect our confidence in these outlooks.The Board is extremely mindful of this and the need to deliver better shareholder value over the short-,medium-and long-term timeframes.The Board has thought deeply about this gap

46、 between the markets view of valuation and our own.While investing in the business will always be the first priority for use of capital,the Board believes that the balance sheet is now strong enough to support a share buyback.This should be seen as a clear demonstration in the Boards belief in the m

47、edium-and long-term growth prospects for GSK.R&D progressThe companys core focus remains progressing and strengthening the pipeline and R&D performance.This is the number one priority for the Board as a whole and the Science Committee specifically.We continue to constructively challenge the executiv

48、e team on their scientific and commercial assumptions and the financial returns expected from proposed R&D investments.The Board was encouraged to see good progress made during the year,both organically and through business development,with 13 positive phase III readouts.This pipeline progress suppo

49、rts the Boards confidence in the delivery of the increased outlook to 2031.As a result,the Board is increasingly turning its attention to pipeline opportunities beyond 2031 based on the companys deep understanding of the immune system and leading capabilities in platform and data technologies.Discip

50、lined deployment of capital towards R&D remains central to this.We have chosen to both progress and decline business development opportunities over the course of this year,not least as we now see opportunities to accelerate certain assets in Respiratory,Immunology&Inflammation and Oncology.Remunerat

51、ionWe continue to evolve our Remuneration Policy to support delivery against the companys goals and seek to further increase alignment of shareholder and management experiences.In the Remuneration Report we set out proposed changes which seek to both anchor our remuneration against the peer group we

52、 compete with and to ensure we are even more focused on incentivising financial over-performance and pipeline over-delivery in the near,mid and long term.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Chairs statement6(1)See assumptions and basis of

53、 preparation related to 2025 Guidance,2021-26 and 2031 Outlooks on the inside back coverWe have consulted extensively with shareholders in developing the new proposals,which will be voted on in the usual way at our 2025 AGM.Resolving Zantac litigation Beyond the companys strategic and R&D priorities

54、,the Board has focused on reducing unnecessary exposures for the company and shareholders.The retirement of the Zantac risk,through the settling of the vast majority of cases in the US,was clear demonstration of this.We strongly believe this action is in the best long-term interests of shareholders,

55、helping draw a line under the litigation and providing closure without any admission of liability.This was a good example of the Board and leadership team working closely together,along with independent experts,to act in shareholder interests.Culture and responsibility As I have said before,I believ

56、e that one of the strongest drivers of GSKs long-term performance is the culture shift which Emma and her team are driving.This is seen in a focus on behaviours such as accountability and smart decision-making;and continued very high engagement scores among GSK people.The Board continues to support

57、the long-standing proactive approach taken by the company to build trust and operate responsibility.Through the relevant Board committees,we examined progress in priority areas such as access to medicines,where the company again ranked strongly in external benchmarks in 2024,antimicrobial resistance

58、(AMR),and our climate and nature sustainability commitments.Board evolutionAs Ive noted previously,we continue to evolve the Board to ensure we provide robust oversight and scrutiny of management.We have now built deep industry skills and experience across all parts of the biopharma value chain,incl

59、uding strategically important areas to GSK such as genetics,immunology and AI.In 2024,we were delighted to welcome Dr Jeannie Lee to the Board.Jeannie is Vice Chair of the Department of Genetics at Harvard Medical School.Her deep expertise in scientific and medical innovation,including in the field

60、of RNA biology and epigenetics,which are key parts of GSKs R&D approach,together with her experience in public health,bring a strong additional perspective to Board discussions.We will also bid farewell to Dr Jesse Goodman,who will step down from the Board at the 2025 AGM having served nine years as

61、 a Non-Executive Director.The Board as a whole,and the Science Committee in particular,have benefitted hugely from Jesses wealth of expertise in infectious diseases,regulation and public health.He has made a fantastic contribution to GSK and we wish him all the very best for the future.As Jesse step

62、s down,we are delighted that Dr Gavin Screaton will join the Board as a Non-Executive Director from 1 May 2025.His deep expertise in immunology and infectious diseases,together with his considerable experience in public health,will help to replace Jesses skillset and experience;and bring a valuable

63、perspective to the Board.Conclusion We believe the company continues to strengthen across all parts of the business.That we have not demonstrated this more in shareholder value is a source of determination to do so.The Board is strongly focused on this and helping the executive achieve the outlooks

64、set,which will ultimately drive investor confidence and in parallel,shareholder value.There are many things that are precious about GSK but one that sits above all is our people and the purpose that drives them to improve health and the lives of patients worldwide.I would like to thank all our peopl

65、e,as well as our partners,customers and shareholders,for their continued commitment through the past year.Together,we look forward to another year of success in 2025.Sir Jonathan SymondsChairStrategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Chairs stat

66、ement continued72025 will mark three years since the demerger and the creation of GSK as a new dedicated biopharma company,for patients and for shareholders.The demerger enabled a fundamental restructure of GSK and its balance sheet,bringing new capacity to invest in growth and to deliver returns to

67、 shareholders.Three years on,we have established a strong track record of performance delivery.We have developed an attractive,reshaped portfolio and pipeline of Specialty Medicines and Vaccines,with Specialty now representing close to 40%of GSKs sales and expected to be well over 50%by 2031.We have

68、 delivered sustained year-on-year sharper operational performance,profitability and cash improvements.And our long-term outlooks have consistently improved,alongside the quality of our R&D innovation.Significantly,we now expect sales on a risk adjusted basis to be more than 40 billion1 by 2031.This

69、is 7 billion ahead of the target we set only four years ago and would represent an increase of 17 billion to GSKs sales since the start of the decade,positively impacting the health of billions worldwide.Strong 2024 performanceGSKs excellent performance in 2024 demonstrates the transformation of the

70、 business.Group sales were 31.4 billion,up 8%,2 core operating profit grew 13%3,core EPS by 12%4 and free cash flow was just over 2.9 billion.This was driven by strong growth and increasing contribution from Specialty Medicines,with double-digit growth in all areas,more than offsetting headwinds in

71、Vaccines.In Respiratory/Immunology,sales were up 13%,driven by Nucala,our anti-IL5 biologic medicine and Benlysta,our treatment for auto-immune disease lupus.Oncology sales almost doubled to more than 1.4 billion.Specialty medicines for ovarian and endometrial cancers,together with Ojjaara,our new t

72、reatment for myelofibrosis patients with anaemia,all grew rapidly,driven by increased uptake and recognition of their benefit by oncologists.HIV sales grew 13%,with 20%of total HIV sales now coming from new long-acting injectables for treatment and prevention(PrEP).Vaccine sales were down 3%,reflect

73、ing challenges we have seen from external pressures,in the US and China,for Arexvy and Shingrix.While we expect these to continue in 2025,we are confident that these vaccines,together with the pipeline opportunities we have in this part of our portfolio,will deliver meaningful contributions to mediu

74、m-and long-term growth.General Medicines also delivered another strong year of performance,with sales up 6%and Trelegy strengthening its position even further as the top-selling medicine worldwide for COPD and asthma.Pipeline momentum In R&D,execution in the late-stage pipeline was exceptional,with

75、13 positive phase III clinical trial readouts in 2024 across Respiratory,Immunology&Inflammation(RI&I),Oncology,HIV and Infectious Diseases a record for the company.We are now focused on the clinical development of 14 scale innovation opportunities the majority in Specialty medicines each with peak

76、year sales potential of more than 2 billion and expected to launch before 2031.These include five new product approvals expected in 20255,at the forefront of which are potential step-changes in treatment for multiple myeloma,with Blenrep our novel ADC treatment;and depemokimab our new ultra-long-act

77、ing medicine for the treatment of severe asthma.I was also pleased to see further strengthening of our mid-and early-stage pipeline,with progress and addition of several new assets including two high-potential oncology medicines targeting B7-H3 and B7-H4 antigens;novel IL33 and TSLIP respiratory tre

78、atments;and successful steps forward in our development programmes for ultra-long-acting HIV medicines.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024CEOs statement8(1)See assumptions and basis of preparation related to 2025 Guidance,2021-26 and 203

79、1 Outlooks on the inside back cover(2)On a CER basis and excluding COVID-19 solutions(3)Core operating profit+11%(with further positive impact of+2%excluding COVID-19 solutions)at CER(4)Core EPS+10%(with further positive impact of+2%excluding COVID-19 solutions)at CER(5)Penmenvy,our 5-in-1 meningoco

80、ccal vaccine,was approved in the US in February 2025Targeted business development(BD)also remains a key priority.In 2024,we completed transactions to acquire assets in oncology and RI&I;strengthened platform capabilities in mRNA and oligonucleotides;and entered into several new research alliances,in

81、cluding a collaboration with Flagship Pioneering providing us with access to a portfolio of more than 40 bioplatform companies.Our recent agreement to acquire IDRx,Inc is a good example of what we expect to do going forward.Upgraded long-term outlooks1In 2025,we expect another year of profitable gro

82、wth and,as referenced above,we have increased our long-term outlook.Our new expectation for 2031 sales to be more than 40 billion is calculated on a risk adjusted basis and reflects the inclusion of Blenrep,our significant phase III progress since last year and multiple launch opportunities in the 2

83、026 to 2031 period.With almost 90%of our 2031 sales ambition coming from products already approved,or planned for launch in the next three years,we are confident that our portfolio will deliver against this upgraded outlook.Capital allocation and shareholder returnsWe remain extremely focused on dis

84、ciplined allocation of capital.Our first priority for capital remains to invest in growth and in R&D both organically and in targeted business development at scale and pace.R&D expenditure was over 6 billion in 2024,and we invested 2.3 billion of capital in targeted BD.With the pipeline opportunitie

85、s we now have,we are deliberately prioritising investment to accelerate development of key assets in RI&I and Oncology alongside long-acting HIV medicines and existing core Vaccines opportunities.In addition to investing in growth,we remain focused on improving returns for shareholders.Our primary m

86、echanism for this remains our progressive dividend.For 2024 we declared a full year dividend of 61p,and we expect to pay 64p in 2025.We also look to deliver further returns,when circumstances and opportunities allow,and have announced our intention to buy back 2 billion of shares over the next 18 mo

87、nths.We believe this offers a very attractive return for shareholders at current share price levels.Very importantly,our outperformance and stronger balance sheet support all our plans to invest competitively for growth in pipeline and in BD as well as deliver enhanced returns to shareholders.Operat

88、ing as a Responsible BusinessGSK is committed to operating responsibly.This is core to who we are as a company and to delivering our ambition for patients,our people and long-term business success.We maintained good progress in our six priority areas to build Trust in 2024,with an overall performanc

89、e rating of“on track”for the third consecutive year.Importantly,we retained a leadership position in the Access to Medicine Index where we have been placed first or second since its inception in 2008.We are also making great progress against the ambition we set ourselves in 2021 to positively impact

90、 the health of 2.5 billion people over ten years,with latest estimates indicating that we have reached at least two billion people.Being responsive to the environment in which we operate and the changing expectations of our key stakeholders,is critical to building trust.With that in mind,we continue

91、 to review and evolve the actions we are taking in all of our six areas.Culture At GSK,our culture is centred around being ambitious for patients,accountable for our impact and doing the right thing and we continue to make meaningful progress.Our culture lays the foundation for how,together,we deliv

92、er our strategy,our business performance and positive health impact at scale.It also drives our strong commitment to creating an environment where talented people can thrive,feel valued,included,are able to focus on what matters and pursue exciting career development opportunities.We continue to see

93、 highly positive engagement of our people with scores of more than 80%again last year in our internal survey.Increased confidence in the delivery of our strategy was also reflected in the survey,and we were delighted to see positive feedback on the effectiveness of our managers with 79%rated as high

94、ly effective by their teams.Clear momentum as we look aheadAs we look ahead,I am very optimistic for the future at GSK and our ability to deliver our outlooks and develop the next wave of meaningful R&D innovation.Our portfolio is demonstrating growth and resilience in key areas of therapeutic stren

95、gth;we expect another year of profitable growth in 2025;and we have further improved our long-term outlooks,particularly in RI&I and Oncology.This comes on the back of a strong track record of operational delivery and accelerating progress in innovation and pipeline development.As ever,it is our won

96、derful teams and partners who fuel this progress,and I want to thank them for all they have achieved during 2024,for the momentum they are bringing into 2025,and for the inspiration they bring to us all.All of this underscores GSKs clear opportunity to deliver scale health impact to patients,and att

97、ractive returns to shareholders,through the decade and beyond.Combining science,technology,and the talent of our people,to get ahead of disease together.Emma WalmsleyChief Executive OfficerStrategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024CEOs statemen

98、t continued9(1)See assumptions and basis of preparation related to 2025 Guidance,2021-26 and 2031 Outlooks on the inside back coverOur Ahead Together strategy and long-term priorities of Innovation,Performance and Trust respond to major trends influencing the healthcare landscape.InnovationConvergen

99、ce of science and technology continues to shape research and development opportunities A deeper insight into human biology,combined with the potential to access and compute vast amounts of data,continues to shape discovery and development of new therapies.Advances in understanding of human genetics

100、and functional genomics,in tandem with artificial intelligence and machine learning(AI/ML),are enabling scientists to decode the mechanisms of disease.A better understanding of biological processes,such as inflammation and ageing of the immune system,is paving the way for earlier,more precise interv

101、ention to change the course of disease.In 2024,the biopharma industry continued to look to new mechanisms,technologies and opportunities.Oncology,respiratory and infectious diseases are forecast to be among the top ten therapy areas by 2028,based on global spend.Around a quarter of oncology trials n

102、ow focus on novel mechanisms,especially antibody drug conjugates,multi-specific antibodies,and cell and gene therapies.While obesity drug trials are increasing,there is also more attention on obesity medications in the context of studies into other diseases;and the longer-term health needs that coul

103、d emerge due to obesity being effectively controlled.The transformative potential of scientific and technological advances continues to prompt innovative partnerships and collaborations across sectors.The biopharma industry completed around 60 AI/ML focused deals in 2024.Countries also continue to l

104、ook to innovation generated by strategic industries,including biopharma,to support growth.China has taken steps to bolster its R&D environment,with its share of global biopharma companies rising to 16%in 2024.The US retains the greatest share,with 39%.Our responseThe convergence of science and techn

105、ology is changing discovery and development.At all stages of our R&D,were harnessing the opportunity to be more precise in our research targets,to identify the right patients,and to increase the chances of successfully developing medicines and vaccines that make a difference to them.We continue to i

106、nvest for growth in new,best-in-class medicines and vaccines.Our R&D approach combines our scientific focus on the immune system,including human genetics,functional genomics and single-cell profiling,with the use of advanced technologies.Our innovation is driven through both in-house R&D as well as

107、partnering with leading institutions to access cutting-edge research and technology.We work with our peers and governments to make sure that the policy and regulatory environment stimulates and protects innovative research and development within a culture that builds trust with transparency.This inc

108、ludes policies at a national level to invest in and recognise the value of innovation,as well as global frameworks to enable responsible and appropriate access to,and deployment of,data and new technologies.Read more about our R&D to prevent and change the course of disease on pages 12 to 319.9bnTot

109、al deal value of AI/ML transactions completedby the biopharma sector in 2024.$440bnProjected global spending on oncology medicines by 2028,according to IQVIA,making it the leading therapy area as novel cancer treatments continue to be launched.Strategic reportCorporate governanceFinancial statements

110、Investor informationGSK Annual Report 2024Our external environment10PerformanceChanging demographics and health system pressures pavethe way for a shift to preventative healthcare Life expectancy is rising once again,following a dip during the COVID-19 pandemic.By 2030,the share of the worlds popula

111、tion aged 60 and over will have risen to 1.4 billion.Butalonger life does not always equate to a healthier life.In the US and Europe,rates of chronic disease,obesity and disability have increased over successive generations.Changing demographics,and more complex health needs,put economies and health

112、 systems under increasing strain.Although medicines comprise a relatively small proportion of overall health budgets,containing drug costs remains apriority including for countries across Europe and the USasthey look to manage health spending.Under the US Inflation Reduction Act,Medicare reduced pri

113、ces for ten medicines.But as population dynamics change,there is increasing recognition of the value of preventative,pre-emptive healthcare to support future health system sustainability and economic growth.Adult immunisation alone can return up to 19 times its initial investment through health and

114、wider socio-economic benefits.Our responsePreventing and mitigating the effects of disease,andhelping people to live well,is an important lever toimprove health and strengthen productivity and economic growth.We are investing in innovation to help prevent illness in the first place and prevent progr

115、ession of disease.Realising the full potential of this innovation needs the right systems in place to value the full health,social and economic benefits of preventative healthcare.It also needs the appropriate infrastructure to help people access care at the right time and in the right place.We are

116、engaging with stakeholders to identify constructive policy solutions that would shift health systems from spending on sickness to investing in health.Read more about our commercial operations and performance on pages 32 to 45 TrustBuilding trust and transparency is key to implementing innovationPeop

117、les understanding of,and familiarity with,the biopharma industry remains relatively low.This contributes to a lack of trust in the sector and levels of trust vary significantly across geographies.The industry faces continued scrutiny across a range of issues.Questions span from how the industry deli

118、vers a consistent,safe and reliable supply of products that address unmet needs,through to sourcing and using health data.Despite significant strides to widen access to medicines and vaccines,inequities remain both within and between countries.As a result,the industrys business model continues to co

119、me into question.The role of the sector in responding to sustainability and health security challenges,including pandemics and the rising tide of antimicrobial resistance(AMR),was also in the spotlight again during 2024.Governments around the world agreed a new political declaration on AMR,calling f

120、or concerted investment in new medicines and vaccines and improved access to antibiotics,vaccines and diagnostics.Our responseBuilding trust and transparency remains central to sustaining innovation and bringing medicines and vaccines to patients;it is also core to delivering on ourambitions for sha

121、reholders and society at large.We recognise that challenge and its why we have embedded six areas of responsible business access;global health and health security;environment;inclusion and diversity;ethical standards;and product governance.These are areas where we can have the greatest impact.This r

122、anges from delivering medicines and vaccines to the right patient,at the right time,toresponding to risks posed by new pandemics,increasing resistance to antimicrobials and the consequences of climate change and nature loss.Read more in the Responsible Business section on pages 46 to 57Strategic rep

123、ortCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Our external environment continued11Research and developmentStrategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 202412A scientist based at our Upper Providence site in the U

124、S,working in our Research Technologies group.Thisgroup is the foundation of our medicine discovery,bringing together platform and data groups to advance development across our therapy areas including oncology and respiratory.We focus on the science of the immune system and advanced technologies todr

125、ive innovation preventing and treating the most challenging diseases,better and faster.Highlights71assets in the pipeline19 assets in phase III/registration13positive phase III readoutsPositive phase III data and regulatory filing for Nucala in COPDPositive phase III data and regulatory filingsfor d

126、epemokimab,ultra-long-acting anti-IL5 biologic including for severe eosinophilic asthma Positive phase III data for Blenrep,including overall survival,and filings in 2L+relapsed/refractory multiple myelomaOjjaara/Omjjara approval for myelofibrosis patients with anaemia in Japan following approvals i

127、n the US,EU and UKJemperli approval expanded to all adult patients with primary advanced or recurrent endometrial cancer in the US and EU Breakthrough Therapy(US)and Priority Medicine(EU)designations for B7-H3-targeted ADC,GSK227,in relapsed/refractory osteosarcomaFast-Track designation for bepirovi

128、rsen inchronic hepatitis B in the US and Japan Gepotidacin filed in the US as potential firstnew antibiotic for uUTI in 20 years Arexvy approval in adults aged 50-59 in theUS,EU and Japan)and data indicating protection over three full RSV seasonsTargeted business development including deals with Els

129、ie Biotechnologies and acquisition of IDRx1Our R&D approachBy combining our understanding of the science of the immune system with cutting-edge technology,we can discover and develop new medicines and vaccines with thepotential to transform peoples lives.In 2024,we invested 6.4 billion in R&D across

130、 our portfolio,up 3%AER and 5%CER on 2023.We have 71 assets in development,most of which have the potential to be the first or best of their kind.We focus our research and development on four therapy areas:respiratory,immunology and inflammation;oncology;HIV;and infectious diseases.These are areas w

131、here significant patient need remains and where we have the strongest expertise and ability to deliver differentiated and needed medicines and vaccines at scale.Patients are at the heart of everything we do we engage with them and their healthcare providers to deeply understand the impact of disease

132、 and deliver innovation where it matters most.Rapid advances in science and technology are unlocking new opportunities to prevent and treat disease.Being able to better predict and pre-empt the course of disease means we can prevent it occurring in the first place and intervene earlier to slow its p

133、rogress and limit further complications.This can result in better outcomes,not only for patients,but for health systems and societies too.Focusing on execution,technology and cultureThree priorities guide our research and development:Execution accelerating delivery of our pipeline of innovative medi

134、cines and vaccines for patients who need them.Find out more about the latest developments across our four therapy areas:See page 14 Technology acting as a catalyst for R&D at all stages,from how we choose research targets to making clinical trials as effective as possible.Discover how we deploy adva

135、nced data and platform technologies to develop medicines and vaccines that make a meaningful difference to peoples health:See page 28 Culture focusing on delivering what matters most for patients,stakeholders and our people better and faster.See how we foster an environment where our people can thri

136、ve,make the right decisions,take smart risks and work effectively with each other and our partners:See page 60(1)Closed in February 2025Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development13ExecutionAccelerating delivery of our pi

137、peline of innovative medicines and vaccines for patients who need themOur pipeline continues to grow and strengthen and we now have 54 medicines and 17 vaccines in development.Over the past year we began nine phase I development programmes,moved six assets into phase II and two into phase III.We had

138、 13 positive phase III data readouts and 23 approvals or regulatory filings.Our focus and investment in R&D are driving increased productivity with end-to-end success rates more than doubling from 2018-2023.Our phase III development cycle times are now in the top quartile for the industry1.Our rate

139、of progress gives us confidence in our medium-and long-term growth outlook.From 2025 onwards we expect a series of major launches with peak year sales of over 2 billion,with five approvals in 20252 alone.Were also looking ahead to the next wave of R&D innovation based on an even deeper understanding

140、 of the science of the immune system with investment in scientific partnerships and advanced platform and data technologies,to identify the right target,the right intervention and the right patient.This will drive longer-term growth and value for patients,shareholders and our people.In respiratory,w

141、e reported positive pivotal results for Nucala in COPD and depemokimab,the worlds first six-monthly injectable for severe asthma and chronic rhinosinusitis with nasal polyps(CRSwNP).This reinforced our ambition to redefine the future of respiratory medicine.We also continued to see significant momen

142、tum in our expanding oncology portfolio.This included approvals for Jemperli in endometrial cancer and Ojjara in myelofibrosis.We saw positive phase III data for Blenrep in multiple myeloma,including significantly improved overall survival rates versus standard of care.This data highlighted its pote

143、ntial to materially redefine clinical practice.We made progress towards introducing innovative long-acting injectable regimens for HIV treatment and prevention,with positive real-world data for Apretude and promising phase I data for our ultra-long-acting formulation of cabotegravir.We continued to

144、strengthen our leadership in infectious diseases.Our market-leading RSV vaccine,Arexvy,gained expanded approvals in adults aged 50-59 and demonstrated sustained efficacy over three RSV seasons.We submitted gepotidacin for regulatory review.This is potentially the first in a new class of oral antibio

145、tics in 20 years for uncomplicated urinary tract infections,which recurrently affects around one third of women.Our oligonucleotide,bepirovirsen,was granted Fast-Track status in the US and Japan.This takes us a step closer towards a functional cure for chronic hepatitis B,which affects around 300 mi

146、llion people worldwide.Strengthening innovation through collaboration andbusiness development To complement our in-house R&D,we partner with the worlds best minds and leading institutions to enable access to novel science and technology.This allows us to add to our pipeline,bring in unique data insi

147、ghts and integrate platform technologies to find new ways of addressing disease.Targeted business development in 2024 resulted in 12 acquisitions and discovery collaborations across biotech.In June 2024 we acquired Elsie Biotechnologies whose platform technology will expand our oligonucleotide pipel

148、ine.We supplemented our pipeline with acquisitions such as the T-cell engager CMG1A46 from Chimagen for development in lupus,and a TSLP inhibitor from Aiolos Bio for asthma and other respiratory conditions.We also partnered with Flagship Pioneering and its portfolio of 40+bioplatform companies,aimin

149、g to discover and develop new potential medicines and vaccines.Our presence in gastrointestinal oncology was strengthened with our acquisition of IDRx Inc.which includes IDRx-42,a highly selective KIT tyrosine kinase inhibitor3.In addition,we have the option to acquire DB-1324,an antibody drug conju

150、gate(ADC),from Duality Biologics.Collaboration with academia is at the heart of scientific progress and a fundamental part of our R&D approach to better understand disease processes.In October 2024,we announced a five-year collaboration with Cambridge University focusing on kidney and respiratory di

151、sease.Werealso working with Boston Universitys Center for Regenerative Medicine to develop a better understanding of respiratory diseases such as pulmonary fibrosis and with Oxford University to advance novel cancer research,focused on the potential of cancer prevention through vaccination.Read more

152、 about our technology collaborations on page 30Focusing on our four core therapeutic areasRespiratory,immunology and inflammation,see page 15Oncology,see page 18HIV,see page 22Infectious diseases,see page 24Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report

153、 2024Research and development continued14(1)Source:Centre for Medicines Research(2)Penmenvy,our 5-in-1 meningococcal vaccine,was approved in the US in February 2025(3)Acquisition completed in February 2025Respiratory,immunology and inflammation For over five decades,we have been at the forefront of

154、the most complex respiratory health challenges.We have a deep understanding of the underlying drivers of disease in different groups of patients with conditions like asthma and chronic obstructive pulmonary disease(COPD).Our ambition is to redefine the future of respiratory medicine with a broad por

155、tfolio of next-generation long-acting treatments that work in distinct ways to help as many patients as possible.We continue to pursue the most ambitious treatment goals,aiming for early interventions that prevent,treat and stop disease,limiting future complications for patients.Our deep understandi

156、ng of the immune system is also leading to advances in our growing immunology pipeline.Here,were building on our decades of knowledge in inflammatory mechanisms to target fibrotic lung,liver and kidney disease with innovative treatments that aim to modify underlying disease dysfunction and prevent d

157、isease progression.In this section:AssetPotential indication/label expansion1Nucala1 (mepolizumab)Anti-IL5 monoclonal antibody for five respiratory conditionsDepemokimab Anti-IL5 monoclonal antibody for four respiratory conditionsCamlipixantP2X3 inhibitor for refractory chronic cough Benlysta1(belim

158、umab)Anti-BLyS monoclonal antibodyfor systemic lupus erythematosus and lupus nephritisCMG1A46Dual CD19 and CD20-targeted T-cell engager for lupus and related auto-immune conditionsGSK990 Antisense oligonucleotide formetabolic dysfunction-associated steatohepatitis andalcoholic liver disease Linerixi

159、bat IBAT inhibitor for cholestatic pruritus in primary biliary cholangitis See a more detailed pipeline listing on pages 31 and 301RespiratoryRespiratory diseases can create a significant physical,social and emotional burden for those affected,along with financial impact on people and healthcare sys

160、tems.Older treatments that are typically used to manage them are not always adequate.This is why were focusing our research on medicines that can potentially better control symptoms and slow disease progression by targeting underlying drivers of disease,like inflammation.For some patients,it may eve

161、n be possible to achieve clinical remission,where they no longer experience symptoms and exacerbations,dont need to use oral steroids,and have stabilised lung function.Next-generation treatments for patients with IL5 mediated conditionsFor some patients with respiratory conditions like severe asthma

162、,COPD and chronic rhinosinusitis with nasal polyps(CRSwNP),their disease is driven by type 2 inflammation.Acytokine(protein),known as interleukin-5(IL5),plays a key role in driving this inflammation,making it a proven treatment target for these patients.Type 2 inflammation is the underlying driver o

163、f unpredictable exacerbations and is seen in more than 80%of people with severe asthma and up to 40%of people with COPD.Rarer diseases including eosinophilic granulomatosis with polyangiitis(EGPA)and hypereosinophilic syndrome(HES)are also driven by IL5.We now have two anti-IL5 biologic treatments i

164、n our pipeline.Our aim is to achieve more than simply controlling the symptoms of these inflammatory diseases.Instead,we strive to identify and target the underlying disease process to slow,or even stop,disease progression.This may help reduce the risk of organ damage and achieve clinical remission,

165、where possible.We pioneered the research that established the role of IL5 in respiratory diseases and continue to apply our knowledge as we explore other inflammatory pathways which may be future targets.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 20

166、24Research and development continued15 Half of the top six causes of death globally are lungdiseases,which claim around seven million liveseach year.Alongside lung cancer,COPD and lower respiratory tract infections are critical healthcare challenges with COPD affecting more than 300 million peoplegl

167、obally.(1)Assets with existing approval or in development for label expansion are italicisedExtending the impact of Nucala to more patients Despite the availability of inhaled therapies,around half ofrespiratory patients continue to experience debilitating attacks(exacerbations)of their disease each

168、 year.Preventing these exacerbations,including the most severe events that lead to emergency hospital visits or hospitalisation,is a key treatment goal to reduce the impacton patients and on healthcare resources.Nucala(mepolizumab),our anti-IL5 biologic(monoclonal antibody),is the only treatment in

169、the US and Europe with indications in four IL5 mediated diseases.In 2024,we gained new approvals for Nucala.In Japan,itwas approved for CRSwNP in cases where standard treatments arent controlling disease.An estimated two million people suffer from chronic rhinosinusitis in Japan,with 200,000 needing

170、 surgery for nasal polyps.Nucala was also approved for use in two additional indications in China.Alongside its indication in EGPA,Nucala is now approved as a treatment for severe asthma with an eosinophilic phenotype and in CRSwNP,making it the first targeted IL5 treatment in both conditions.In Chi

171、na,asthma affects 46 million adults,6%of whom experience severe asthma,and CRSwNP affects approximately 35 million people.In September 2024,we presented positive pivotal results from our phase III MATINEE trial of mepolizumab in patients with COPD.The study met its primary endpoint,with data showing

172、 a statistically significant and clinically meaningful reduction in the annualised rate of moderate or severe exacerbations compared to placebo.Based on these data,in December 2024,the US FDA accepted a regulatory submission seeking a new indication for the use of mepolizumab in patients with COPD.I

173、mproving outcomes for patients withultra-long-acting treatmentsLong-acting therapies that target the underlying drivers of disease to provide sustained suppression of inflammation could further advance treatment of severe asthma and other respiratory or immune mediated disease.Depemokimab has the po

174、tential to be the first approved ultra-long-acting anti-IL5 biologic with six-month dosing.This could offer millions of patients with respiratory diseases sustained efficacy benefits including a reduction in exacerbations and hospitalisations,as well as limiting cumulative lung damage and disease pr

175、ogression with just two injections per year.Extended dosing intervals could also help tackle other barriers to patients achieving optimal outcomes,such as adherence challenges or the inconvenience of frequent healthcare appointments.In 2024,we announced positive results from the SWIFT-1 and SWIFT-2

176、phase III trials of depemokimab in patients with severe asthma with type 2 inflammation.Both trials mettheir primary endpoints with statistically significant reductions in the annualised rate of clinically significant exacerbations(asthma attacks)over 52 weeks versus placebo.Importantly,there was al

177、so a 72%reduction in exacerbations leading to hospitalisation.In October 2024,we also announced positive phase III datafrom our ANCHOR-1 and ANCHOR-2 trials for depemokimab in patients with CRSwNP.Data from the ANCHOR and SWIFT programmes have been used to support filing acceptances in China,Japan a

178、nd Europe,andregulatory submission in the US,for the use of depemokimab for two indications;in asthma with type 2 inflammation and CRSwNP.Additional submissions will occur through 2025.We continue to explore other potential long-acting respiratory treatments in our early pipeline that could benefit

179、a broader range of patients.These include ourlong-acting anti-thymic stromal lymphopoietin(TSLP)monoclonal antibody,currently in phase II for patients whose asthma is not driven by type 2 inflammation;andour anti-IL33 asset in phase I for COPD.Addressing the unmet need in refractory chronic cough wi

180、th camlipixantCamlipixant,our potential treatment for patients with refractory chronic cough(RCC),became part of our pipeline through the acquisition of Bellus Health in 2023.It is in phase III development.Clinical data has shown that by selectively inhibiting P2X3 receptors,camlipixant may reduce c

181、ough frequency for RCC patients with a relatively low incidence of dysgeusia.Chronic cough affects around 28 million people,and around 10 million suffer from RCC for over a year.RCC is a cough that lasts for more than eight weeks,doesnt respond to treatment for an underlying condition and is otherwi

182、se unexplained.Theres currently no effective treatment,with patients often cycling through other therapies and seeing specialists with no resolution.They can also suffer from depression,incontinence and sleep loss.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual

183、 Report 2024Research and development continued16ImmunologyOur deep understanding of the immune system is opening up new opportunities to help patients with a range of immune-mediated conditions beyond respiratory.Data and platform technology collaborations are enabling us to understand underlying di

184、sease processes,reach previously inaccessible targets and better identify patients for treatment.Our work in human genetics and phenotyping is generating insights that are informing moves into other areas,including liver disease.Broadening use of Benlysta for immune-mediated conditionsWe continue to

185、 develop Benlysta,our anti-B lymphocyte stimulator monoclonal antibody,for a range of immune-mediated conditions,as well as systemic lupus erythematosus(SLE)and lupus nephritis(LN).Benlysta has been approved to treat adults and children with SLE and LN in more than 60 countries,including theUS,Japan

186、,Europe and the UK.Benlystas robust and expansive evidence includes nine randomised controlled trials(RCT),including six placebo-controlled phase III trials in adult SLE,including LN.These data underpin Benlystas potential in the short-andlong-term treatment of SLE and LN,including reduction of flar

187、es,tapering of oral corticosteroids(OCS)and helping to prevent damage to vital organs via a disease modifying action.Reinforcing our portfolio for lupus In October 2024,we acquired CMG1A46 from Chimagen Biosciences to reinforce our portfolio for the treatment of lupus and underlying drivers of autoi

188、mmune disease.CMG1A46,a clinical-stage dual CD19 and CD20-targeted Tcell-engager,has the potential to deplete uncontrolled B cells present in autoimmune diseases,such as lupus.Phase I trials in lupus are likely to begin in 2025.Building on our early pipeline to address liver disordersGSK990 GSK990 i

189、s our investigational RNA interference therapeutic for steatotic liver disease(SLD),an area of substantial unmet need.Around 26 million patients globally have advanced alcoholic liver disease(ALD)and it accounts for half of liver-related deaths in developed countries.There are currently no pharmacol

190、ogical treatments available.Around 265 million patients globally have metabolic dysfunction-associated steatohepatitis(MASH),which causes a build-up of fat in the liver that can eventually lead to scarring and,in some cases,severe liver damage,liver failure and even death.Genetic analysis has shown

191、a strong association between the HSD17B13 gene and advanced ALD and MASH.GSK990 targets HSD17B13 resulting in highly specific binding to receptors that are only expressed on liver cells.Itis now in early development to address the liver fibrosis associated with ALD and MASH and prevent disease progr

192、ession with an improved dosing schedule versus current treatment options.LinerixibatLinerixibat is our investigational product for the treatment ofcholestatic pruritus in patients with primary biliary cholangitis(PBC).Cholestatic pruritus causes an internal itch that cannot be relieved by scratching

193、.Linerixibat has the potential to be thefirst global therapy to treat this itch.It is a minimally absorbed small molecule inhibitor of an ileal bile acid transporter(IBAT),administered as an oral tablet.In November 2024,positive phase III results demonstrated astatistically significant improvement i

194、n itch versus placebo,potentially supporting patients whose quality of life is significantly affected by persistent itching.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development continued17CASE STUDYPatients complete the picture:li

195、ving with severe asthmaWere researching treatments to redefine the standard of care for patients with severe asthma.Ryan(pictured right),who has had severe asthma since the age of three,explains the impact of the illness on his day-to-day life.As a child,Ryan was diagnosed with severe asthma and sar

196、coidosis of the lungs.“You just cant breathe.Not its hard.You cant,”explains Ryan.“I spend my free time chasing clean air,trying to go and walk slowly,but in clean air.”Living with severe asthma means that Ryan,now 44,goes back and forth to hospital frequently:“I cant go too far away because I need

197、to rely on somebody to be able to take me to hospital.”His symptoms mean he hasnt been able to do the type of jobs he would like to do.“Everything physical is just harder.Its tiring.Its exhausting,”he says.Allergies are a challenge too.“Technically,Im allergic to everything,”adds Ryan.“I couldnt car

198、ry on as a cabinet maker and joiner because of the dust.”“I spend a lot of time thinking about the bad bits.One of the worst things is the uncertainty,”says Ryan.But innovation in care and treatment gives him hope:“When you have little glimmers of help from the specialists,its amazing.”OncologyCance

199、r is one of the worlds leading causes of death,and treatment options are still limited for many patients.Our ambition is to help increase overall quality of life,maximise survival and change the course of disease,expanding from our current focus on blood and gynaecologic cancers into lung and gastro

200、intestinal cancers,as well as other solid tumours with our antibody drug conjugates.Our research uses precision medicine-based technology to match the right treatment to the right patient.Cancer is complex with multiple,connected biological processes contributing to the development and progression o

201、f disease.Our oncology portfolio includes a range of medicines that target different aspects of cancer biology,including uncontrolled cell division(Blenrep;Ojjaara),immune system evasion(Jemperli)and DNA mutation(Zejula,B7-H3 ADC;B7-H4 ADC).As our understanding of these disease processes deepens,wer

202、e exploring the potential of our medicines,alone and in combination,across multiple cancer types with the aim of offering transformational solutions for as many patients as possible.In this section:AssetPotential indication/label expansion1Blenrep(belantamab mafodotin)BCMA-targeted antibody drug con

203、jugate(ADC)for multiple myeloma Ojjaara/Omjjara(momelotinib)JAK1,JAK2 and ACVR1 inhibitor for myelofibrosis with anaemiaJemperli(dostarlimab)Anti-PD1 monoclonal antibody for endometrial,colorectal,head and neck,and lung cancersZejula(niraparib)PARP inhibitor for ovarian,brain and lung cancerGSK227 B

204、7-H3-targeted ADC for lung cancer and other solid tumoursGSK584B7-H4-targeted ADC for gynaecological cancersSee a more detailed pipeline listing on pages 31 and 301Targeting uncontrolled cell divisionBlenrep potential to redefine multiple myeloma treatmentBlenrep(belantamab mafodotin)is our antibody

205、-drug conjugate treatment for relapsed/refractory multiple myeloma,which were evaluating in early lines of treatment in combination with novel therapies and current standard of care treatments.In 2024,we announced pivotal data from our DREAMM development programme showing the potential for belantama

206、b mafodotin to become a new standard of care at first relapse or later for patients with multiple myeloma.The DREAMM-7 phase III trial showed patients receiving Blenrep,combined with bortezomib and dexamethasone(BVd),lived a median of almost three times longer without their disease progressing than

207、those receiving a daratumumab-based combination.A subsequent planned analysis,presented at ASH in December 2024,showed that patients receiving the Blenrep combination had a statistically significant and clinically meaningful 42%reduction in the risk of death versus standard of care which may transla

208、te to giving patients a median additional three years of life,based on projections.The DREAMM-8 phase III study showed a nearly 50%lower risk of disease progression or death,as well as a positive overall survival trend,for Blenrep,in combination with pomalidomide plus dexamethasone(BPd),compared to

209、standard of care.Both studies also reinforced the well-characterised side-effect profile of Blenrep,with patient quality of life that is comparable to standards of care.Eye-related side effects were shown to be managed effectively through dose modifications without compromising efficacy.Ease of admi

210、nistration in a community setting is likely to be an additional advantage for patients and their healthcare professionals.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development continued18 Multiple myeloma is the third most common b

211、lood cancer globally,with around 180,000 cases diagnosed every year.The five-year survival rate is under 60%,and the disease is considered treatable but not curable.Multiple myeloma often becomes resistant to existing treatments,which may require inpatient care,underlining the need for new therapies

212、 with novel mechanisms of action that can be easily administered in the clinic.(1)Assets with existing approval or in development for label expansion are italicisedIn 2024,the Blenrep combinations were accepted for regulatory review in the US,Europe,Japan,UK,Canada and China under priority review.Bl

213、enrep was also granted orphan drug designation in Japan and,in combination with BorDex,received Breakthrough Therapy Designation in China,reflecting the high unmet need and potential for improvement in patient outcomes over available treatment options in relapsed/refractory multiple myeloma.In Decem

214、ber 2024,we started a phase III trial,DREAMM-10,with belantamab mafodotin as a first-line multiple myeloma treatment.Ojjaara/Omjjara improving outcomes for patients with myelofibrosis with anaemiaOjjaara,known as Omjjara in several countries,is the only medicine indicated for newly diagnosed and pre

215、viously treated MF patients with anaemia.It is a new standard of care,as more established MF treatments can exacerbate anaemia.Taken orally once a day it is the only therapy demonstrating durable clinical benefit on spleen response,symptoms and anaemia for patients with MF.In 2024,Ojjaara was approv

216、ed under the brand name Omjjara in the EU and UK,as well as in Japan,where 70%of patients with primary MF and 50%with secondary MF have moderate to severe anaemia when theyre diagnosed.These approvals followed US approval in 2023.Targeting immune system evasionJemperli treating more patients with en

217、dometrial cancer Jemperli(dostarlimab)is the foundation of our ongoing immuno-oncology-based research and development programme.Our targeted research approach has identified opportunities to address a specific biomarker,known as dMMR/MSI-H,that is present in some gynaecologic and other cancer types,

218、such as colorectal cancer.In combination with chemotherapy,Jemperli was the firstnew medicine to be approved for patients with dMMR/MSI-H primary advanced or recurrent endometrial cancer in decades.It is the only immuno-oncology-based treatment to show a statistically significant improvement inovera

219、ll survival for all patients with this type of endometrial cancer.Our phase III RUBY trial showed that patients treated with Jemperli and chemotherapy had a 31%lower risk of death than those treated only with chemotherapy.In 2024,the US FDA expanded approval for Jemperli plus chemotherapy to include

220、 all patients with primary advanced or recurrent endometrial cancer.In January 2025,the European Commission also expanded approval to the same group in the EU.This broadens the previous indication to include mismatch repair proficient(MMRp)/microsatellite stable(MSS)tumours.These represent approxima

221、tely 75%of patients diagnosed with this type of endometrial cancer,who have limited treatment options.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development continued19 Myelofibrosis(MF)is a rare blood cancer that affects around 1 i

222、n 500,000 people around the world.About 40%of MF patients are anaemic at diagnosis,and nearly all eventually develop anaemia and become dependent on regular blood transfusions.This leads to around 30%stopping treatment with established therapies.Endometrial,or uterine,cancer is the most common gynae

223、cologic cancer in developed countries.Globally around 1.6 million people live with active disease,with 417,000 new cases reported each year.Around 15-20%of patients have advanced disease when theyre diagnosed.Unprecedented results in locally advanceddMMRrectal cancer The dMMR/MSI-H biomarker is also

224、 present in colorectal cancers,so were using this,along with our advanced AI and ML technologies,to inform our development programme for dostarlimab beyond endometrial cancer.In 2024,we announced updated results from a phase II study of dostarlimab in locally advanced,dMMR rectal cancer,with all 42

225、patients showing no evidence of disease after treatment.This is a collaborative study with Memorial Sloan Kettering Cancer Center evaluating dostarlimab as a first-line treatment and alternative to life-altering surgery.Our AZUR-1 trial is an ongoing global phase II registrational clinical trial tha

226、t aims to confirm these promising findings.Based on these data,the FDA granted Breakthrough Therapy Designation for dostarlimab reflecting its potential in this patient population.We are also advancing studies evaluating dostarlimab in patients with advanced/metastatic stages of dMMR/MSI-H colon can

227、cer.AZUR-2 is our ongoing phase III trial for dMMR/MSI-H advanced colon cancer to replace chemotherapy as the current standard of care after surgery.Differentiated clinical trial design in unresected head and neck cancerIn 2024,we started our JADE phase III study evaluating dostarlimab in locally ad

228、vanced head and neck cancer,where long-term survival remains poor and significant unmet need exists.Building on learnings from previous studies,JADE has key design characteristics that differentiate from other approaches and increase our confidence that dostarlimab has the potential to benefit patie

229、nts where other immunotherapies have failed.Exploring the impact of dostarlimab combinationsWere studying dostarlimab in combination with several potential therapeutic options for non-small cell lung cancer(NSCLC).The GALAXIES-Lung 301 phase III trial is investigating our anti-TIGIT antibody,belrest

230、otug,in combination with dostarlimab in first-line PDL1-high NSCLC.We started this trial in 2024 based on promising interim results from the GALAXIES-Lung 201 phase II trial.Our phase III COSTAR-Lung trial in second-line advanced NSCLC continues to evaluate a triplet combination of cobolimab,our ant

231、i-TIM-3 antibody,plus dostarlimab plus chemotherapy,compared to a doublet combination of dostarlimab plus chemotherapy,compared to standard of care chemotherapy alone.We expect the trial to read out in 2025.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report

232、 2024Research and development continued20 Colorectal cancer is the third most diagnosed cancer in the world.It accounts for around a tenth of all cancer cases,and is the second leading cause of cancer-related death.Head and neck cancer accounts for approximately 5%of all cancer cases and deaths,glob

233、ally,with theincidence increasing across many countries.Nine in 10 patients with head and neck cancer have squamous cell carcinoma,and the majority are diagnosed with locally advanced disease.Targeting mutation and repair of DNANiraparib our PARP inhibitor for ovarian cancer andbeyond We continue to

234、 assess the potential of niraparib,currently approved as Zejula for ovarian cancer,across multiple tumour types and in combination with other agents.In June 2024,the GLIOFOCUS phase III trial began,evaluating niraparib in newly diagnosed MGMT unmethylated glioblastoma(brain cancer).This is sponsored

235、 by the Ivy Brain Tumor Center and supported by GSK.The decision to progress to phase III was prompted by positive results in an earlier clinical trial,conducted by the Ivy Brain Tumor Center,where niraparib showed significant results in reaching the tumour and changing how the cancer grew.The broad

236、er development programme for niraparib includes the ZEAL-1L phase III trial evaluating niraparib in combination with standard of care for the maintenance treatment of first-line advanced NSCLC,and the FIRST phase III trial assessing its potential in combination with dostarlimab in first-line ovarian

237、 cancer which met its primary endpoint.GSK227 B7-H3 targeted ADC promising preliminary data in extensive stage small-cell lung cancerGSK227 is our investigational B7-H3-targeted antibody-drug conjugate(ADC).B7-H3 is over-expressed in a wide range of solid tumour types,including lung.In 2024,the US F

238、DA granted Breakthrough Therapy Designation for GSK227 for patients with extensive-stage small-cell lung cancer(ES-SCLC)with disease progression on or after platinum-based chemotherapy(relapsed or refractory).GSK227 also received Priority Medicines(PRIME)Designation from the EMA.These designations r

239、eflect the significant unmet need in ES-SCLC and are based on promising early data from the ARTEMIS-001 phase I study which were presented at the 2024 World Conference on Lung Cancer.We expect to conduct a broad development programme for GSK227 and,in 2024,started a phase I platform study for advanc

240、ed solid tumours,which includes a cohort for patients with relapsed or refractory ES-SCLC.In December 2024,the US FDA granted Breakthrough Therapy Designation for GSK227 in late-line relapsed or refractory osteosarcoma.Were also exploring two other ADCs.GSK584,our B7-H4-targeted ADC,is being evaluat

241、ed for gynaecologic cancers,such as endometrial and ovarian cancer.And we have an exclusive option to acquire ADC,DB-1324 from Duality Biologics for gastrointestinal tumours.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development con

242、tinued21CASE STUDY Patients complete the picture:living with endometrial cancerWere aiming to treat more patients living with endometrial,or uterine,cancer which currently affects around 1.6 million women worldwide.Here,Grace(pictured right)shares her experience of the disease and why the search for

243、 new treatments is socritical.Grace was 30 when diagnosed with endometrial cancer.She then went through surgery,immunotherapy,radiotherapy and brachytherapy.“With immunotherapy,fatigueisa very different experience to say fatigue when I was on chemotherapy,”Grace explained.“It was an incredibly dark

244、time.Things felt quite hopeless.And if youve got the uncertainty about what to expect from treatment on top of that,it can be so frightening.”“The medical data only tells one part of the story,”said Grace,who acts as a patient advocate to help others living with endometrial cancer.“The data can only

245、 really be truly understood by the people that are living with it,who are having the medications and the side effects on a daily basis.Because actually,we live this every day.“There are so many dimensionsto being well.I want a life thats meaningful and full.The hope for us lies in the medicines that

246、 are coming.”Lung cancer is the leading cause of cancer-related deaths worldwide,accounting for the highest mortality rates among both men and women.Most lung cancers are non-small-cell lung cancer(NSCLC)which is often diagnosed at advanced stages where treatment options are limited.HIVFor nearly fo

247、ur decades,weve worked to improve the lives of people living with HIV or those who could benefit from HIV prevention.Having launched the first long-acting injectable options for HIV treatment and prevention,patients now only need to take medication a few times a year instead of every day.We are focu

248、sed on even longer-acting options for treatment and prevention,including the option to treat at home as well as ultimately finding a cure.Our work in HIV is led by ViiV Healthcare,which we majority-own,with Pfizer and Shionogi as shareholders.ViiV Healthcare is the only company exclusively dedicated

249、 to treating and preventing HIV with an ambition to end the HIV epidemic.ViiV Healthcares integrase strand transfer inhibitors(INSTIs),the core of our current long-acting and daily therapies,are trusted by healthcare professionals worldwide for their potency,durability,long-term tolerability and hig

250、h barrier to resistance.The foundation was set with our first INSTI-based medicine,dolutegravir,which established a gold-standard for daily oral therapy.The follow up,long-acting cabotegravir injectables,increased dosing intervals to every two months.And now,our aim is to increase the treatment and

251、prevention dosing interval to every four to six months.This could mean fewer visits to the clinic for people,as well as more choices for treatment and prevention,and the assurance of long-term efficacy.Working towards a clear mission to leave no person living with HIV behind,and grounded in our deep

252、 understanding of patient insights,we took more steps in 2024 towards developing a new generation of longer-acting medicines to treat or prevent HIV.In this section:AssetPotential indication/label expansion1Cabenuva(cabotegravir/rilpivirine)Long-acting 2DR for HIV treatmentDovato(dolutegravir/lamivu

253、dine)2DR for HIV treatmentApretude(cabotegravir)Long-acting PrEP for HIV preventionGSK744(cabotegravir/CAB-ULA)Ultra-long-acting HIV treatment and preventionVH184Third-generation INSTI for HIV treatment VH310Ultra-long-acting HIV treatmentSee a more detailed pipeline listing on pages 31 and 301Caben

254、uva underlining the efficacyof ourlong-acting treatmentCabenuva(cabotegravir;rilpivirine)is the worlds first and only complete,long-acting injectable treatment for HIV,launched in 32 markets around the world.Administered in a clinic,only six times a year,it provides people living with HIV with an al

255、ternative to daily pills.The result is that people living with HIV may have a better quality of life by improving their treatment adherence and reducing stigma or fear of disclosure.In 2024,interim data from the LATITUDE phase III trial showed Cabenuva was more effective than daily oral therapy at m

256、aintaining viral load suppression in people living with HIV with a history of antiretroviral treatment adherence challenges.There are many reasons why it is difficult for people to stick to daily treatment including pill fatigue,the daily reminder of HIV or the fear of having their HIV status disclo

257、sed.CROWN,a follow-up study to LATITUDE,is a clinical trial evaluating the use of Cabenuva in people living with HIV who are experienced with daily oral treatment,but have not successfully suppressed the virus and have detectable levels of HIV.Dovato showing the effectiveness of our oral daily treat

258、ment optionDovato is our oral two-drug daily treatment regimen,based on dolutegravir,and approved in the US,Europe,Japan,Australia and other countries.In 2024,the phase IV PASO DOBLE study comparing Dovato to the three-drug regimen Biktarvy showed Dovato had non-inferior efficacy,while participants

259、also showed statistically significantly lower weight gain when taking Dovato over the course of 48 weeks.We know that people living with HIV are concerned about taking more medicines as they age,as well as being interested in their metabolic health.Strategic reportCorporate governanceFinancial state

260、mentsInvestor informationGSK Annual Report 2024Research and development continued22 40 million people live with HIV globally,with 1.3million new cases diagnosed in 2023.In the US,around one third of people living with HIV struggle tomaintain viral suppression.HIV incidence continues to grow despite

261、progress in care,highlighting that an urgent need still exists for new options to prevent and treat HIV.(1)Assets with existing approval or in development for label expansion are italicisedApretude UK approval and real-world studies reinforcing more than 99%effectiveness for ApretudePrevention is a

262、vital part of ending the HIV epidemic,but globally only about 15%of people who could benefit from pre-exposure prophylaxis(PrEP)are taking it to reduce the risk of sexually transmitted HIV.Apretude(long-acting cabotegravir)is the worlds first long-acting injectable PrEP.It is administered by a healt

263、hcare physician six times a year.Since the pioneering US launch of Apretude in 2022,it has also been approved in the EU,Australia,South Africa and several other countries.In 2024,Apretude received marketing authorisation in the UK from the Medicines and Health products Regulatory Agency(MHRA).Additi

264、onal regulatory submissions are underway.In July 2024,we announced positive data for Apretude use during pregnancy.Women of childbearing age in sub-Saharan Africa experience disproportionately high rates of HIV.These data showed that Apretude was generally well tolerated among women who became pregn

265、ant and that pregnancy outcomes were similar to those with no cabotegravir exposure.These data add to the evidence for Apretude as a prevention option for women.We also saw high effectiveness,99%,of Apretude in studies that spanned gender diverse populations in the US and participants from Black and

266、 Hispanic communities.Ultra-long-acting pipeline positive data supports continued progression to extended dosing intervalsWe are focused on enabling even longer treatment and prevention intervals of up to four months and longer,building our leadership in long-acting therapies.This would see people m

267、aking just three clinic visits a year,doubling the current dosing interval available today for Cabenuva and Apretude.Data from the phase I trial of GSK744,our investigational ultra-long-acting formulation of cabotegravir(CAB-ULA),showed a dosing interval of at least four months was possible.This sup

268、ports a move to the next stage of clinical development.The trial demonstrated that intramuscular(IM)dosing of CAB-ULA slows drug absorption compared to the current CAB-LA formulation,producing a more desirable pharmacokinetic profile that supports less frequent dosing.Also,the safety and tolerabilit

269、y of the new formulation was comparable to our current profile for IM dosing with the approved CAB-LA formulation.Additionally,we selected rilpivirine as the partner for CAB-ULA for our every four-month treatment option.This regimen selection is based on progress in formulation studies for rilpiviri

270、ne and builds on existing positive patient and physician experience with these medicines in our current portfolio.A registrational study is also in progress to evaluate using CAB-ULA to prevent HIV in adults.Extending dosing and delivery optionsOur goal is to offer treatment and prevention options t

271、hat allow for every-six-monthly dosing as well as self-administered medicines by the end of the decade.As part of our development work,we are exploring the next generation of integrase inhibitors and partner agents to reach six months and beyond.In 2024,we announced data for VH184,our third-generati

272、on investigational INSTI.Early phase I data showed positive findings to support the development of VH184,as a potential for ultra-long-acting dosing and coverage of INSTI-resistant viruses.As well as a unique resistance profile,further analysis also showed a good safety and tolerability profile for

273、VH184.Building on our legacy of developing new integrase inhibitors,these positive findings reinforce that integrase inhibitors will remain the gold standard in HIV,trusted for their efficacy,long-term tolerability and high barrier to resistance.As such,VH184 is an excellent candidate for further de

274、velopment for ultra-long-acting and self-administered therapy.Another compound,VH310,is an inactive compound(known as a prodrug)that converts to active cabotegravir when administered into the body.Preclinical studies showed that VH310 delivered long-duration cabotegravir for more than 50 weeks.A fir

275、st-time-in-human study that will look at the pharmacokinetic and safety profile is planned for 2025.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and development continued23Infectious diseasesInfectious diseases cause around one in six dea

276、ths worldwide.They also put significant strain on healthcare systems and societies.We intend to have a positive impact on the lives of more than 2.5 billion people by the end of the decade and a significant proportion of this will be through our work in infectious diseases.Our portfolio here is the

277、broadest in ourindustry.Our priorities include seasonal infections,like respiratory syncytial virus(RSV)and influenza;chronic infections,like hepatitis B,shingles and HIV;common childhood diseases,including measles;and rarer but critical conditions like meningitis.We also focus on bacterial infectio

278、ns,where antimicrobial resistance is creating an urgent need for new treatments.In this section:AssetPotential indication/label expansion1ArexvyVaccine for respiratory syncytialvirus ShingrixVaccine for shinglesMenABCWY vaccine candidateVaccine candidate for meningitisBepirovirsenAntisense oligonucl

279、eotide for chronic hepatitis BPneumococcal vaccine candidatesVaccine for pneumococcal diseases in adults and infantsmRNA vaccine candidatesmRNA vaccines for seasonal influenza,H5N1 pre-pandemic influenza,and SARS-CoV-2GepotidacinAntibiotic for uncomplicated urinary tract infections and uncomplicated

280、 urogenital gonorrhoeaTebipenemAntibiotic for complicated urinary tract infections See a more detailed pipeline listing on pages 31 and 301Arexvy expanding protection against RSV withour market-leading vaccine In 2024,Arexvy,our RSV vaccine,gained expanded approvals in the US,Europe and Japan for th

281、e prevention of lower respiratory tract infection disease(LRTD)in adults aged 50 to 59 at increased risk.Arexvy was originally approved for adults 60 and over in a number of markets in 2023.It is now available for that group in over 50 countries.Further adding to the body of evidence supporting Arex

282、vy,we shared new data from the AReSVi-006 phase III trial.This showed that one dose of the vaccine is efficacious against RSV-LRTD and severe LRTD in adults aged 60 and older over three full RSV seasons.These results included efficacy against different RSV subtypes,in adults with advanced age(70-79

283、years of age)and those with certain underlying medical conditions.Safety and reactogenicity data were consistent with initial observations from the phase III programme.Positive data were also reported showing the vaccines efficacy and safety in adults aged 18 and above at increased risk from RSV,inc

284、luding immunocompromised patients.We continue to provide data on longer-term follow-up to help recommending bodies determine future RSV revaccination schedules.To ease access to important adult vaccines,we generate data to show our vaccines can be co-administered.Following data on co-administration

285、with seasonal flu vaccines in 2023,in 2024 we presented data confirming that Arexvy can also be administered together with our shingles vaccine,Shingrix.Further co-administration trials,including with pneumococcal vaccines,are ongoing.Strategic reportCorporate governanceFinancial statementsInvestor

286、informationGSK Annual Report 2024Research and development continued24 RSV affects around 64 million people of all ages every year,causing approximately 470,000 hospitalisations and 33,000 deaths annually in people 60 and over in industrialised countries.Over 33 million people in the US and Europe ag

287、ed 50-59 have a medical condition that increases their risk of severe RSV outcomes.People with certain underlying medical conditions,like COPD,asthma,heart failure and diabetes,are atincreased risk from RSV,which can worsen these conditions and lead to pneumonia or death.(1)Assets with existing appr

288、oval or in development for label expansion are italicisedShingrix showing our vaccines long-lasting duration of protection against shinglesShingrix,our shingles vaccine,is available in 52 countries for people over 50.In most of these countries it is also available for people over 18 who are at incre

289、ased risk of shingles.The vaccine combines one of our adjuvants with an antigen chosen to enhance a protective immune response.This formulation may help to address the natural age-related decline in immune response that can make it more difficult to protect older people from disease.In 2024,the Chin

290、a National Medical Products Administration(NMPA)accepted our regulatory application for Shingrix to prevent shingles in people of 18 years and over at increased risk.The vaccine is already approved in China for people of 50 and over.In 2024,we published data showing that Shingrix gives a high level

291、of protection for more than a decade in people aged 50 and over.The ZOSTER-049 long-term follow-up phase III trial showed 82%efficacy within the 11th year following vaccination.The study,covering 7,000 people in 18countries,also showed over 73%cumulative efficacy from year 6 to 11 for Shingrix in pe

292、ople over 70.A separate retrospective observational study sponsored by GSK,ZOSTER-122,evaluated a potential association between Shingrix vaccination and reduced dementia risk,compared to the risk in those who received one or more of two other elective adult vaccines recommended for similar age group

293、s.These earlier initial results were encouraging and were consistent with the growing body of evidence.The ZOSTER-122 results were presented at the Alzheimers Associations 2024 International Conference.We continue to investigate this area.Reducing the burden of meningitis with ourmeningococcal vacci

294、nes Our meningitis ACWY vaccine Menveo and meningitis B vaccine Bexsero protect against most forms of IMD.Our 5-in-1 MenABCWY vaccine candidate combines them,aiming to protect against the five most common types of meningococcus with one vaccine.In 2024,the US FDA accepted the file for this vaccine c

295、andidate for regulatory review1.The vaccine could simplify immunisation by reducing the number of injections required.In turn,this could increase immunisation rates.Although meningitis B is the most common group of IMD-causing bacteria in US adolescents and young adults,just under 12%of them have ha

296、d the two doses of vaccine needed to provide protection.Our phase III trial to assess the safety and effectiveness of the MenABCWY vaccine candidate found the breadth of immune response to be consistent with Bexsero and Menveo.Fast-track designations for our investigational medicine for chronic hepa

297、titis B(CHB)The WHO has highlighted hepatitis B as a global public health threat,setting targets for its elimination by 2030 through improved diagnosis and treatment,and preventative vaccination programmes.Bepirovirsen,our triple-action antisense oligonucleotide,is a potential new treatment option f

298、or people with CHB when combined with oral antiviral therapies,called nucleoside/nucleotide analogues(NAs).Data from the B-Clear and B-Sure phase IIb trials show bepirovirsen is the only single agent in phase III development to provide evidence of clinically meaningful functional cure response when

299、combined with oral NAs.Current treatments(pegylated interferon)provide less than 8%functional cure rate,with less than 1%for oral treatments.(1)This vaccine was approved in the US in February 2025,as PenmenvyStrategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Repor

300、t 2024Research and development continued25 Up to one in three people develop shingles in their lifetime,sometimes with serious consequences,including loss of vision and nerve pain,which affects up to 30%of people.By the age of 50,most adults already have the virus that causes shingles inside their b

301、ody,even though not everyone will develop it.As people age,and their immune response to infection wanes,the risk of developing shingles increases.There are approximately 1.2 million cases of invasive meningococcal disease(IMD)worldwide each year.Up to one in 10 people diagnosed with IMD will die,des

302、pite treatment.257 million people worldwide are living with CHB,though only around 10%are diagnosed.Nearly one million people die each year from hepatitis B and related complications,such as livercancer.In 2024,bepirovirsen was granted Fast Track designation for the treatment of CHB by the US FDA,as

303、 well as SENKU designation by the Japanese Ministry of Health,Labour and Welfare,reflecting its potential to address an unmet medical need for a serious and life-threatening condition.The B-Well phase III clinical trial programme is now underway with both pivotal trials achieving full recruitment ah

304、ead of schedule.Other infectious diseasesInfluenza and respiratory combinationsWere developing mRNA-based vaccines for influenza and COVID-19,including combinations.In 2024,we achieved several important milestones across our mRNA development programme.We reported positive data from a phase II study

305、for a COVID-19 vaccine candidate.This showed single booster doses for both monovalent and bivalent modified vaccine candidates produced meaningful immune responses with acceptable reactogenicity profiles across all tested dose levels.For seasonal influenza,we announced positive results from our phas

306、e II trial.This studied a range of mRNA formulations in older and younger adults to evaluate vaccine candidates that could improve on standard immune responses against influenza A and B strains.Data confirmed that the mRNA vaccine candidates elicited strong overall antibody titres with an acceptable

307、 safety profile.These results supported progression of our seasonal influenza vaccine programme into late-stage development.Positive data from both programmes enabled the start of a combined phase I/II study for a seasonal influenza and COVID-19 combination vaccine candidate in 2024.As part of our c

308、ommitment to helping governments around the world with pandemic preparedness,we started a phase I/II study of an investigational influenza A(H5N1)pre-pandemic vaccine candidate.The investigational vaccine has received Fast Track designation from the US FDA.In 2024,we restructured our collaboration w

309、ith CureVac into a new licensing agreement.Under the new terms,we assumed full control of developing and manufacturing candidate vaccines for influenza and COVID-19,including combinations,together with worldwide rights to commercialise them.Pneumococcal diseaseWe are using the innovative MAPS vaccin

310、e platform technology to progress development of new vaccine candidates with best-in-class potential for pneumococcal diseases.MAPS technology potentially enables higher antibody responses against more disease-causing serotypes for broader and stronger protection.We have programmes to develop multiv

311、alent vaccines for both infants and adults that provide the broadest possible coverage and high immunogenicity.We are prioritising 30 plus-valent pneumococcal vaccine candidates for adults and infants currently in pre-clinical development with first subject,first visit expected in 2025.Our 24-valent

312、 vaccine candidate for infants is currently in phase II development.Herpes simplex virusFollowing a combined phase I/II proof-of-concept study to assess our early-stage therapeutic herpes simplex virus(HSV)vaccine candidate,we decided not to progress it to phase III.We will continue to generate foll

313、ow-up data that could offer valuable insights into recurrent genital herpes.Given the unmet medical need,well review all our relevant data and studies to progress further research.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024Research and developme

314、nt continued26 Influenza is an enduring public health challenge.There are around one billion seasonal influenza cases each year worldwide,with up to five million leading to severe illness and up to 650,000 proving fatal.Globally,over 772 million cases of COVID-19 have been confirmed and nearly seven

315、 million deaths havebeen reported.Worldwide,around one million children lose their lives to pneumococcal disease each year.In the US,pneumococcal pneumonia causes around 150,000 hospitalisations annually.Pneumococcal resistance to antimicrobials is a serious and growing global problem.Antibiotics an

316、d antimicrobial resistanceGepotidacin progress towards a new treatment for uncomplicated urinary tract infections(uUTIs)and gonorrhoea Gepotidacin is our investigational,first-in-class oral antibiotic,with a novel mechanism of action for the treatment of female adults and adolescents with uUTIs.New

317、treatments are needed,as the number of uUTIs caused by drug-resistant bacteria is increasing.This can result in higher treatment failure rates.Following positive results from our phase III EAGLE-2 and EAGLE-3 trials,gepotidacin was accepted for priority review by the US FDA in 2024.In these studies,

318、gepotidacin demonstrated non-inferiority to the current standard of care for uUTIs.If approved,gepotidacin will offer a much-needed additional oral treatment option for patients at risk of treatment failure associated with resistance or recurrence of uUTI.Gepotidacin is also in development for uncom

319、plicated urogenital gonorrhoea in adolescents and adults.In 2024,we announced positive data from our phase III EAGLE-1 trial.Gepotidacin performed as well as intramuscular ceftriaxone plus oral azithromycin,a leading combination treatment for gonorrhoea.The results show gepotidacin has the potential

320、 to be a novel treatment option amid rising resistance to other treatments,and for patients who have allergies and intolerances to other treatments.We had also been investigating a potential vaccine for gonorrhoea.Following results from the phase I/II study,we decided not to progress to phase III.Te

321、bipenem treating complicated urinary tract infectionsThrough our partnership with Spero Therapeutics,Inc.,we have an exclusive licence agreement for tebipenem HBr,a late-stage oral carbapenem antibiotic with the potential to treat complicated urinary tract infections(cUTIs).If approved,tebipenem HBr

322、 will address an unmet medical need for a novel oral antibiotic as an alternative to intravenous hospital therapy for drug-resistant cUTIs.PIVOT-PO,the pivotal phase III trial for tebipenem,is ongoing.Strategic reportCorporate governanceFinancial statementsInvestor informationGSK Annual Report 2024R

323、esearch and development continued27CASE STUDY Patients complete the picture:living with urinary tract infectionsRecurrent uUTIs can cause severediscomfort,anxiety andpotentially lead to other complications.Listening to the insights of women living with these infections is key to our search for poten

324、tial new treatments.Several women shared their experience of uUTIs with Live UTIFree,a patient advocacy organisation that we have worked with to shine a light on the realities of living with these infections.The limitations on everyday life areclear,one woman explained:“It can get you really down,ge

325、t youdepressed,because ultimately you cant leave the house,youre bed bound,youre in pain,youre scared to go out because theres notoilet there.”Infections can make you tired and withdrawn,and no longer want to socialise with family and friends.“Istarted to feel helpless and increasingly sad,”another

326、said.The search for different ways to prevent and manage infections motivates and gives hope to patients.“I was not going to give up I knew one day I would be rid of it.I swore Iwould not suffer from recurrent UTIs for the rest of my life like my Nanna did.”Quotes from Over half of all women are aff

327、ected by uUTIs in their lifetime,with around 30%suffering from recurrent disease which can cause significant discomfort,impact daily activities,and lead to other complications.There are around 82 million new cases of gonorrhoea globally each year and neisseria gonorrhoeae,the bacteria causing gonorr

328、hoea,is recognised by the World Health Organization as a priority pathogen.Over half of all women are affected by uUTIs in their lifetime.TechnologyTechnology is helping us to understand the human immune system and the underlying biology of disease like never before.This gives us the opportunity to

329、transform every part of R&D,from how we choose research targets and identify patients,to how we design medicines and vaccines,and make clinical trials as effective as possible.Increasingly,technology is enabling a more dynamic approach to R&D.For example,were using machine learning algorithms to ide

330、ntify potential drug targets and advanced data analytics to predict patient responses.Were also implementing digital twins,which will help us realise our ambition of accelerating our clinical trials and getting medicines and vaccines to patients faster.In 2024,we continued to advance our pipeline by

331、 harnessing both data and platform technologies.Data technology deep understanding of diseaseData tech,including data itself,digital capabilities,artificial intelligence(AI)and machine learning(ML),gives us an unprecedented depth of understanding of patients,human biology,and disease mechanisms.Our

332、world-leading data sources allow us to push the boundaries of whats possible and enable our teams to work faster and with greater precision.For example,applying AI and ML to our work in human genetics and functional genomics has significantly enhanced our understanding of disease processes.This mean

333、s we can more accurately target the molecular pathways responsible for diseases such as cancer or chronic disorders,helping to prevent disease progression and alter its course more effectively.Platform technology finding the right match Platform technologies enable us to design and develop new medicines and vaccines for diseases that are hard to treat with traditional small molecules or biologics.