GSK shares fell because investors feared declining vaccine sales and rising costs would hurt future profits, despite the company reporting better-than-expected quarterly results.
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British pharma company reports declining profits amid weaker vaccine sales and looming patent loss for blockbuster HIV drugBusiness live – latest updatesShares in GSK slid on Wednesday despite the UK drugmaker reporting better than expected financial results, as investors were unnerved by weaker vaccine sales, restructuring charges and its overall outlook.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. Continue reading...
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