GSK shares slump as vaccine sales fall

GSK shares have fallen the steepest since April, after the British pharmaceuticals giant reported a sharp drop in vaccine sales. The FTSE 100 medicines titan slumped up to five per cent in early trading on Wednesday, as investors looked past the group’s higher-than-expected revenue.  The London-based group posted a £8.9bn turnover in the third quarter, five per cent higher than last year and one per cent above analyst expectations.  GSK’s specialty medicines are driving the group’s revenue upwards, with its injectable HIV medicines and oncology drugs each posting double-digit growth. But a two per cent dip in vaccine revenue to £2.6bn dampened the pharma giant’s performance. Sales of Arexvy, the group’s vaccine for respiratory tract disease, slumped 14 per cent to £0.2bn, offsetting a 12 per cent uplift in meningitis vaccine sales. Chris Beauchamp, chief market analyst at investment platform IG, said weakness in GSK’s vaccine business “is pointing towards tougher trading in