GSK Faces Revenue Decline Amid Vaccine Sales Slump

The pharmaceutical giant reports a drop in third-quarter sales due to decreased demand for its Arexvy vaccine, while growth in specialty medicines provides some relief.

• GSK's third-quarter sales fell 2% year-over-year to £8.01 billion, missing analyst expectations.
• The company cut its 2024 vaccine sales forecast, now expecting a low-single-digit percentage decrease.
• Arexvy, GSK's respiratory syncytial virus vaccine, saw a 72% drop in sales due to restrictive US health recommendations and increased prioritization of COVID-19 vaccinations.
• Despite the vaccine sales decline, GSK reported strong growth in its oncology and HIV treatments, with cancer treatment sales nearly doubling.
• GSK's shares dropped 4% in premarket trading following the earnings report, although the company maintains its full-year growth forecast.

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