GSK vaccine sales miss expectations amid falling demand from adults

News Business GSK vaccine sales miss expectations amid falling demand from adults October 28, 2026 | 2 min read | Nick Paul Taylor Twitter LinkedIn Facebook Email Print With pressure on GSK’s vaccine business, analysts predict the U.K. pharma will face challenges as it prepares for the loss of exclusivity on a key product. GSK recorded flat-to-falling sales at its cornerstone vaccine and general medicine businesses in the third quarter, leading analysts to predict the company will face challenges as it tries to expand in oncology.The pharma reported Wednesday that it clocked overall sales at £8.9 billion ($11.83 billion)—in line with consensus estimates, Guggenheim Securities analysts said in a note to investors.

However, vaccine sales fell and missed expectations, landing at £2.6 billion ($3.46 billion). The general medicine unit beat expectations, notching £2.4 billion ($3.19 billion), but revenues were flat. GSK is pivoting to specialty medicines, where sales increased 15% to £3.9 billion ($5.18 billion) at a constant exchange rate, but analysts see the quarter as evidence the transition could be difficult.“Net-net, while we understand the push into oncology, we believe this quarter highlights the challenges of delivering sustainable growth in the face of large and relatively flat vaccines and [general medicines] businesses as we approach dolutegravir’s patent expiry,” Guggenheim analysts said.

Dolutegravir is an HIV drug that will lose exclusivity toward the end of the decade. Sales of the respiratory syncytial virus vaccine Arexvy fell more than 20%, which GSK partly attributed to lower market demand. At £195 million ($259 million), Arexvy sales missed the consensus expectation of £231 million ($307 million).

GSK’s shingles vaccine, Shingrix, also underperformed expectations, falling 5% on a constant-currency basis against a backdrop of market pressures.“The . . .

adult vaccines market overall is still challenging,” GSK CEO Luke Miels said on a Wednesday earnings call. “Shingrix is doing a little bit better in relative terms. The adult market is down about 18% versus this time last year, but Shingrix is down about 14%.”The launches of Blenrep in multiple myeloma and Exdensur in asthma “continue to ramp slowly,” Guggenheim said.

At £50 million ($66 million), sales of the antibody-drug conjugate (ADC) Blenrep met analyst expectations. Exdensur fell short, generating £27 million ($36 million) versus the £36 million ($48 million) consensus.Miels highlighted both products. GSK “made good progress on Blenrep, where repeat prescribers are growing as physicians and patients get comfortable using the medicine,” the CEO said.

He added that Exdensur is building momentum, “with prescribers, patients and access all increasing in the quarter.” The situation means the launches of Hibsago in chronic hepatitis B and Jideytro in ROS1-positive non-small cell lung cancer are “increasingly critical,” the analysts said. The products will “meaningfully contribute to near-term growth,” Miels said. Hibsago, which the FDA approved last week, will be on the market within 10 days, Nina Mojas, president of global product strategy at GSK, said on the earnings call.

Approvals GSK, Ionis win FDA nod for hepatitis B functional cure that controls virus after treatment Hibsago’s approval—a functional cure for certain patients with a hepatitis B infection—further validates Ionis Pharmaceuticals’ antisense platform, which has already generated two other new drug approvals this year. October 21, 2026 · 3 min read · Tristan Manalac Read more Twitter LinkedIn Facebook Email Print Earnings Vaccines GSK Nick Paul Taylor Nick is a freelance writer who has been reporting on the global life sciences industry since 2008.