GlaxoSmithKline shares slide amid fears over vaccines division

Boost: Glaxo chief exec Emma Walmsley (pictured)

GlaxoSmithKline posted rising sales yesterday – but shares slid because of fears over its vaccines division. 

In a boost for the pharma giant’s chief executive Emma Walmsley, turnover increased 8 per cent to £15.25billion, helped by cancer and HIV treatments, while profits climbed 18 Per cent to £2.5billion. 

That sparked an upgrade to its earnings outlook – although it lowered sales guidance for its vaccines arm. 

‘The strong performance was broad-based, although the shingles vaccine Shingrix saw sales drop by 4 per cent,’ said Hargreaves Lansdown analyst Derren Nathan. 

‘Even though GSK’s results beat expectations and full year guidance was upgraded, the vaccines arm is flagging.’ 

Russ Mould, from AJ Bell, said: ‘Its shingles treatment is the problem child with a poor showing in the US.’ Shares slipped 2 per cent, or 30.5p, to 1512p