GSK launched a 2 billion pounds ($2.5 billion) share buyback on Wednesday and lifted its long-term sales target to nearly $50 billion, betting that growing sales of its HIV and cancer drugs will make up for pressures on its vaccines revenue.

GSK Plc plans to buy back £2 billion ($2.5 billion) of shares as it raised its long-term growth outlook on optimism around the drug pipeline.The British drugmaker boosted its 2031 sales forecast to over £40 billion,

The pharmaceutical company said promising pipeline developments and high demand for drugs in its specialty segment lifted fourth-quarter profit ahead of analyst expectations.