GSK shares splinter as sales miss estimates

Shares in UK pharma major GlaxoSmithKline (LSE: GSK) were down by more than 3% as Wednesday’s trading entered its final hour.

The drugmaker had just presented its third-quarter 2020 financial results, which showed an 8% drop in revenue, to £8.6 billion ($11.2 billion), below the £8.8 billion forecast by analysts.

Earnings per share, on an adjusted basis, climbed 1% to £0.36, above the £0.30 expected by analysts, and the group said that it was on track to deliver full year 2020 adjusted earnings per share, at the lower end of the -1% to -4% range, at constant exchange rates.