GSK shares dive as weaker vaccine sales unnerve investors

A leading British pharmaceutical company saw its stock plunge on the FTSE 100 despite posting stronger-than-expected financial performance, as investors reacted to declining sales of key vaccines and newly launched drugs. While the firm reported a drop in pre-tax profit and restructuring costs, its core earnings and profit per share still exceeded analyst forecasts. Concerns over weaker demand for respiratory syncytial virus and shingles vaccines, along with recent medication rollouts, appear to have overshadowed the positive results. The company’s struggles highlight ongoing challenges in balancing growth with market expectations in the pharmaceutical sector.

British pharma company one of biggest fallers on FTSE 100 despite better than expected financial resultsBusiness live – latest updatesShares in GSK slid on Wednesday despite the UK drugmaker reporting better than expected financial results, as investors were unnerved by weaker sales of its respiratory syncytial virus (RSV) and shingles vaccines, and recently launched medications.Britain’s second-biggest pharmaceutical company reported a 19% decline in pre-tax profit to £1.9bn in the July to September quarter and £318m of restructuring charges, with more to come. Core operating profit and core earnings per share rose 5% and 1% respectively, however, beating analysts’ expectations. Continue reading...