GSK shares slump on underperforming vaccines

30 October 2024

UK pharma major GSK (LSE: GSK) looked set to close Wednesday’s trading around 3% lower. The London-based drugmaker earlier presented its third-quarter financial results and latest forecasts for 2024 as a whole.

Overall sales slipped by 2% compared to the same period of 2023, to £8.01 billion ($10.41 billion), marginally exceeding analysts’ expectations. GSK also beat Wall Street predictions with its reported core earnings per share of almost £0.50, a 1% decline on the third quarter of last year.

The company has kept its full-year total sales and earnings forecasts unchanged, but has cut its 2024 vaccine sales estimate for the second time.

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