GSK shares fell 7% in European trading on October 28, 2026, after the drugmaker reported a decline in third-quarter sales of its Shingrix shingles vaccine. Total revenue rose, and the company reaffirmed its full-year guidance.

Key Takeaways

  • Shingrix sales fell 5% to £780 million, below analyst expectations of £844 million.
  • GSK reported total quarterly revenue of £8.9 billion, up 4% at actual exchange rates.
  • The company maintained its 2026 growth guidance and declared a third-quarter dividend of 17 pence per share.

GSK shares fall as vaccine sales weaken

The decline in GSK shares followed the company’s third-quarter results announcement. Shingrix sales fell 5% at constant exchange rates, while total vaccine sales declined 2% to £2.6 billion.

GSK cited weak Shingrix performance outside North America, particularly in China. US pricing benefits helped offset some of the decline.

Specialty medicines lift total revenue

Total revenue reached £8.9 billion in the quarter, up 4% at actual exchange rates and 5% at constant exchange rates. Specialty medicines sales rose 15% to £3.9 billion, helping offset the decline in vaccines.

Total operating profit fell 16% at constant exchange rates. GSK attributed the decline partly to £328 million of restructuring charges and lower other net operating income. Core operating profit, an adjusted measure, rose 5%.

Full-year guidance remains in place

GSK reaffirmed its forecast for 2026 turnover growth of 3% to 5%, alongside growth of 7% to 9% in both core operating profit and core earnings per share. Those figures are forecasts, not completed results.

The company declared a third-quarter dividend of 17 pence per share and said it expected to pay 70 pence for the full year.

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