British pharma company reports declining profits amid weaker vaccine sales and looming patent loss for blockbuster HIV drug

Shares in GSK slid on Wednesday despite the UK drugmaker reporting better-than-expected financial results, as investors were unnerved by weaker vaccine sales, restructuring charges and its overall outlook.

Britain’s second-biggest pharmaceutical company reported a 19% decline in pre-tax profit to £1.9bn in the July to September quarter and £318m of restructuring charges, with more to come.