GSK shares slide as vaccine sales fall despite overall revenue growth
GSK reported third‑quarter turnover of £8.9 billion, up 5 % at constant‑currency rates and 5 % on a reported basis, driven by specialty medicines. Vaccine sales slipped 2 % to £2.6 billion, with Shingrix down 5 % and Arexvy down 24 %. Pre‑tax profit fell 19 % to £1.9 billion and the company recorded £318 million of restructuring charges. CEO Luke Miels said the firm is slightly ahead on a three‑year plan to save £1.9 billion a year and reaffirmed its target of more than £40 billion annual revenue by 2031.
Why it matters
The drop in vaccine revenue and the 19 % profit decline offset the revenue beat, pressuring the share price and highlighting the need for cost‑saving progress. The reaffirmed £40 billion revenue target and the cost‑reduction plan indicate the company’s long‑term growth strategy, but near‑term earnings may remain volatile as restructuring costs continue.
Key facts
- 1Turnover rose 5 % at constant‑currency rates to £8.9 billion. aol.co.uk
- 2Turnover rose 5 % on a reported basis to £8.9 billion. ua.news
- 3Vaccine sales declined 2 % to £2.6 billion. aol.co.uk
- 4Shingrix vaccine sales fell 5 %. aol.co.uk
- 5Arexvy vaccine sales fell 24 %. aol.co.uk
- 6Pre‑tax profit fell 19 % to £1.9 billion. aol.co.uk
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.