Nearly £5bn wiped off value of GSK as US restricts blockbuster respiratory vaccine By Leah Montebello Updated: 22:02, 27 June 2024 e-mail View comments Nearly £5billion was wiped off the value of GSK after a top US health agency limited the scope of its blockbuster respiratory vaccine. In a further setback for the UK pharmaceutical giant, the US public health agency, the CDC, said that respiratory syncytial virus (RSV) jabs should not be given to under-60s. The ruling came just weeks after GSK was given the green light by the US Food and Drug Administration (FDA) to expand the use of its Arexvy vaccine from those aged over 60 to those aged between 50 and 59.
While the FDA is the body that gives the formal licence for vaccines in the US, it is up to the CDC to recommend how they are used, and by whom. Vaccine blow: GSK shares tumbled as much as 7% – wiping £4.8bn off its value – before closing down 4.
6%, or 73.5p, at 1526p GSK shares tumbled as much as 7 per cent – wiping £4.8billion off its value – before closing down 4.
6 per cent, or 73.5p, at 1526p. RSV causes cold-like symptoms but can be dangerous for the elderly and vulnerable as well as babies.
The jab has the potential to prevent thousands of hospital admissions each year. But in a shock move, the CDC did not vote on implementing the FDA’s age guidance. According to estimates from Jefferies, the recommendation could slash the number of jabs GSK administers in the US from 93m to 55m.
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