GSK stock falls more at London open following RSV vaccination news

By Steve Goldstein

GSK's London-listed shares fell even more swiftly than their ADRs to news that advisers to the Centers for Disease Control and Prevention shifted their recommendations for who should be vaccinated against respiratory syncytial virus.

GSK's London-listed shares (UK:GSK) were trading at GBP14.91 in early action Thursday, a decline of 7%, and worse than the GBP15.44 implied by the U.S. close.

Put a different way, the ADRs (GSK) will be around $37.66 when the U.S. market opens up again, based on the local trading.

GSK recently launched the Arexy vaccine to target RSV.

The Advisory Committee on Immunization Practices is now recommending RSV vaccination for all adults above 74 years in age, versus 60 years previously. They only recommended vaccination for those over 60 if at increased risk of RSV.

Analysts at JPMorgan also highlighted that Moderna (MRNA) received the same recommendation as GSK despite weaker data.

"We believe consensus Arexvy forecasts may now be lowered to reflect a smaller eligible U.S. patient population, confirmed Moderna competition, and more risk around GSK's two-year revaccination interval," they said.

-Steve Goldstein

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06-27-24 0358ET

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