British pharma company one of biggest fallers on FTSE 100 despite better than expected financial results

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Shares in GSK slid on Wednesday despite the UK drugmaker reporting better than expected financial results, as investors were unnerved by weaker sales of its respiratory syncytial virus (RSV) and shingles vaccines and recently launched medications.

Britain’s second-biggest pharmaceutical company reported a 19% decline in pre-tax profit to £1.9bn in the July to September quarter and £318m of restructuring charges, with more to come. Core operating profit and core earnings per share rose 5% and 1% respectively, however, beating analysts’ expectations.

Case filed in 2022 by patient unable to afford medicine leads to cap on drug prices for millions who face ruin if diagnosed

The Indian government has moved to reduce the price of cancer drugs after a retired bank clerk took her case to the supreme court.

From next month, 137 cancer drugs in India will be cheaper as the government tries to tackle the tragedy of poorer patients either forgoing treatment, selling land or falling into debt to meet the high cost of some medicines, which are making large profits for hospitals and pharmacists.