GSK pipeline doubts, vaccine underperformance overshadow sales beat

GSK's head of oncology research, Hesham Abdullah, told the WSJ the company aims to nearly double its cancer drug pipeline by 2027, targeting 19-20 late-stage studies. This push is part of CEO Luke Miels' strategy to address patent expirations for HIV drugs. GSK's oncology segment generated £1.08 billion in H1 2026.

GSK reported Q3 2026 sales of £8.89B, up 5% at constant exchange rates. Core EPS of 54.6p beat estimates, while total EPS fell 21% due to restructuring costs. Shares dropped 4% on vaccine sales disappointment.

GSK reported Q3 sales of £8.9B, in line with estimates, but vaccine sales fell to £2.6B, missing expectations. Specialty medicines saw 15% growth. Analysts note challenges in sustainable growth due to flat vaccines and general medicines businesses. Arexvy and Shingrix underperformed. Blenrep met expectations, while Exdensur fell short.

GSK shares fell 5.5% on Oct 28 despite a 5% revenue increase to £8.9B. Profit declined 19% due to weaker vaccine sales, restructuring costs, and outlook concerns. Vaccine sales dropped 2%, with Shingrix down 5% and Arexvy down 24%. Restructuring costs total £2.4B, with £318M in Q3. GSK confirmed its annual forecast and aims for £40B+ revenue by 2031.

GSK's shares fell due to a 2% decline in vaccine sales (£2.6B) in Q3, missing expectations. Shingrix and Arexvy vaccines dropped 5% and 22%, respectively. Total sales rose 5% to £8.9B, driven by a 15% gain in specialty drugs, including a 23% increase in cancer therapies. CEO Luke Miels highlighted strong growth in key products and R&D. The company faces patent expirations for HIV drugs from 2028 and a challenging US vaccine market.

GSK reported Q3 adjusted earnings of $1.45 per share on $11.83 billion in sales, beating analyst estimates. However, vaccine sales declined, dragging on the topline beat, and the stock fell. In the same period last year, earnings were $1.46 per share on $11.32 billion in sales.