GSK shares drop as vaccine sales slump and profits fall

GSK shares slid as declining Chinese demand for its shingles vaccine hurt third-quarter results.

Shares in British drugmaker GSK fell on the stock market despite beating financial expectations overall. The company reported a 19% drop in pre-tax profit to £1.9 billion for the third quarter, driven by weak sales of its shingles vaccine in China and slower uptake for other newly launched medications.

• The financial impactPre-tax profit dropped to £1.9 billion for the July to September quarter.
• The restructuring costsThe drugmaker recorded £318 million in restructuring charges, with additional expenses anticipated.
• The market reactionGSK emerged as one of the steepest fallers on the FTSE 100 index.