{"text":[[{"start":7.2,"text":"GSK reported a drop in vaccine sales in its third quarter, sending shares in the FTSE 100 drugmaker down almost 7 per cent even as it reported higher demand for other medicines."}],[{"start":18.16,"text":"The UK pharmaceutical group said on Wednesday that vaccine sales fell 4 per cent year on year, due in part to weaker Chinese demand for its bestselling shingles treatment Shingrix."}],[{"start":30.56,"text":"Sales of GSK’s respiratory syncytial virus vaccine Arexvy were down 22 per cent, while more intense US competition and delayed deliveries weighed on revenue from its flu shots. Shares fell 6.6 per cent in morning trading in London."}],[{"start":45.373,"text":"GSK is making a big push into areas such as oncology under chief executive Luke Miels, as it looks for new sources of revenue to offset the impact of four HIV medicines containing dolutegravir going off patent from 2028."}],[{"start":60,"text":"However, vaccines remain a core part of the company’s business, generating 28 per cent of the group’s £32.7bn revenue last year and triggering concerns among investors about a slowdown in the unit."}],[{"start":72.395,"text":"On a call with reporters, Miels said he expected demand for Arexvy and flu shots to increase over the course of the US winter, due to the seasonal nature of both illnesses. GSK forecast in July that vaccine sales would remain flat over the year or grow by a low single-digit percentage."}],[{"start":89.156,"text":"Wednesday’s share price fall came even as GSK reported a 4 per cent jump in quarterly revenues, to £8.9bn, buoyed by increased sales of speciality medicines including its HIV treatments and oncology drugs."}],[{"start":102.537,"text":"Revenue from respiratory, immunology and inflammation drugs rose by 19 per cent over the quarter. The company has received three approvals for speciality medicines in the US in recent months."}],[{"start":113.586,"text":"Sean Conroy, an analyst at Shore Capital, said in a note that GSK was “well positioned” to navigate its HIV patent expiries and was on course to deliver its ambitious revenue target of more than £40bn by 2031."}],[{"start":126.48,"text":"As part of GSK’s bet on cancer treatments under Miels, the company sealed a $10.6bn deal for US biotech Nuvalent this year, its biggest ever acquisition of a biotech. On Wednesday GSK said the deal would impact core earnings per share this year, which would rise by between 7 and 9 per cent — in line with its previous guidance — but towards the lower end of that range."}],[{"start":150.749,"text":"Earlier this year, Miels set out a cost-cutting plan designed to generate £1.9bn in annual savings by 2029. GSK said those savings would be primarily invested in research and development."}],[{"start":165.12,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793229522_3709.mp3"}