GSK reported a 4 per cent year-on-year drop in vaccine sales for the third quarter, driven by weaker Chinese demand for its shingles treatment Shingrix and a 22 per cent decline in its RSV vaccine Arexvy. Shares in the FTSE 100 drugmaker fell nearly 7 per cent in London, despite a 4 per cent rise in overall quarterly revenues to £8.9bn, boosted by strong sales of specialty medicines including HIV and oncology treatments. CEO Luke Miels expects seasonal US demand to lift Arexvy and flu shot sales as winter approaches.
The company remains focused on expanding its oncology portfolio, including a $10.6bn acquisition of Nuvalent, while navigating the upcoming patent expiry of four dolutegravir-based HIV medicines by 2028. GSK aims to grow annual revenue beyond £40bn by 2031 and has launched a £1.9bn cost-cutting plan by 2029, primarily reinvesting savings into R&D.
Source: Financial Times Companies · Summarized by HeadlinesBriefing