GSK shares slide on vaccine sales slump and restructuring costs despite profit beat

GSK shares fell sharply on Wednesday as investors focused on weaker vaccine sales, £318 million in restructuring charges, and a cautious outlook, overshadowing better-than-expected quarterly results. The British drugmaker, the UK's second-largest pharmaceutical company, reported a 19% drop in pre-tax profit to £1.9 billion for the July-to-September period. The decline was driven by lower sales of its vaccines, including Shingrix, and mounting costs tied to its ongoing restructuring programme. Investors also remain concerned about the looming loss of patent protection for dolutegravir, the key ingredient in GSK's blockbuster HIV drug portfolio, which could open the door to generic competition. Despite the profit beat, the market reaction underscores anxiety over GSK's ability to sustain growth as it navigates a challenging transition. The company's pipeline and cost-cutting measures will be closely watched in the coming quarters as it seeks to reassure shareholders.