Business · Companies · 3 hrs ago
GSK shares fall as vaccine sales weaken despite stronger quarterly revenue
GSK shares fell sharply on Wednesday after investors reacted to weaker vaccine sales and the company's outlook.
The British drugmaker's vaccine sales dropped 2% to £2.6bn in the three months to September, including lower sales of its shingles vaccine Shingrix and RSV vaccine Arexvy.
Revenue rose 5% to £8.9bn, helped by medicines for HIV, cancer and lupus, while core operating profit also beat market expectations.
Pre-tax profit fell to about £1.9bn, and GSK reported restructuring charges as it works to cut costs and invest more in research.
The company is also preparing for its HIV drug dolutegravir to lose patent protection later this decade, which could allow cheaper generic versions to compete.
Chief executive Luke Miels says GSK remains on track with its cost-saving plan and expects to begin 22 late-stage drug studies by the end of the year.
GSK has kept its annual forecasts unchanged, while investors will watch for progress in new medicines and a recovery in vaccine sales.
GSK shares fell on Wednesday after investors reacted to weaker vaccine sales, restructuring charges and the company’s outlook.
The shares dropped as much as 7% before recovering to a 5.5% decline, the biggest fall on the FTSE 100.
Vaccine sales fell 2% to £2.6bn in the July to September quarter, including declines in sales of Shingrix and Arexvy.
GSK reported quarterly turnover of £8.9bn, up 5% at constant currency rates, while pre-tax profit fell 19% to £1.9bn.
The company kept its annual forecasts and said it was slightly ahead on its three-year cost reduction plan.
- Who
- GSK, the UK pharmaceutical company, and its investors.
- What
- GSK shares fell after weaker vaccine sales and investor concerns about restructuring costs and the company’s outlook.
- When
- Wednesday, 28 October 2026. The results covered the July to September quarter.
- Where
- The shares are listed on the FTSE 100 in the UK.
- Why
- Vaccine sales declined, restructuring charges weighed on results, and investors were concerned about GSK’s outlook.
Investors
GSK
Vaccine sales
Investors
Investors were unnerved by weaker vaccine sales.
GSK
GSK said Shingrix had the potential to grow next year.
Outlook
Investors
Investors were concerned about the company’s overall outlook.
GSK
GSK stuck to its annual forecasts.
Luke Miels took over from Emma Walmsley as GSK chief executive.
Miels announced a major cost-saving programme to speed up drug development.
GSK recorded £8.9bn in turnover and a 2% decline in vaccine sales.
GSK reported its quarterly results and its shares fell as much as 7%.
- Quarterly turnover
- £8.9bn, up 5% at constant currency rates
- Pre-tax profit
- £1.9bn, down 19%
- Vaccine sales
- £2.6bn, down 2%
- Shingrix sales
- Down 5%
- Arexvy sales
- Down 24%
- Cost reduction plan
- Target of £1.9bn in annual savings
3 sources
What people are saying
You never want headquarters to be too big; I want people on the bench in the lab.
a remarkable product
transformative
We’ve got a lot of studies that show a correlation. We’re trying to demonstrate causation.