GSK shares dive as weaker vaccine sales unnerve investors

British pharma company one of biggest fallers on FTSE 100 despite better than expected financial results

Shares 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.

8% drop, it was the second-biggest faller on the FTSE 100 index of blue-chip businesses.