London, Feb 12, 2026, 08:19 GMT — Regular session
- GSK dropped roughly 1.5% shortly after the open in London. The stock finished Wednesday at 2,153p.
- China has accepted the filing for review of the Arexvy RSV vaccine, with a decision anticipated in 2027.
- This week brought disclosures of executive share-plan vesting and tax-driven sales. The next catalyst: results on April 29.
GSK (GSK.L) slipped roughly 1.5% to 2,117 pence in early trading Thursday in London, pulling back after a robust run earlier this year. Shares had closed Wednesday at 2,153 pence. 1
The slip is significant: FTSE 100 drugmaker shares have climbed this month, buoyed by pipeline hopes and tighter capital discipline. Now, investors are sifting through the near-term chatter to figure out what actually moves the needle for long-term growth.
China figures into the equation, though not anytime soon. GSK has informed investors the country won’t deliver a decision on its RSV shot before 2027, pushing any commercial gains far past this year.
GSK reported Tuesday that China’s Center for Drug Evaluation is now reviewing its application for Arexvy, a vaccine aimed at preventing lower respiratory tract disease—including infections in the lower lungs—caused by RSV in adults 60 and up. According to the company, RSV hits more than six million people in this age group in China every year and drives over 350,000 RSV-related hospitalisations. 2
GSK said its submission was supported by a Phase III study conducted in China, where the trial hit all its primary endpoints and the vaccine’s safety profile was deemed acceptable. If approved, Arexvy would become the first vaccine available in China targeting RSV lower respiratory tract disease for adults 60 and over.
Executive share dealings grabbed attention again this week, after fresh disclosures. On Wednesday, filings revealed Chief Executive Officer Luke Miels is set for a £541,555.40 cash payout, linked to vesting from a deferred investment award programme. Other top managers picked up shares, then sold them off to cover tax bills. 3
GSK reported that awards granted under its Share Value Plan vested on Feb. 9 for several senior managers, or “PDMRs” as defined in the UK, according to a new filing. Part of those shares were sold off at £21.9082 each, covering tax obligations. Among the execs: Lynn Baxter, president of Europe, and Mike Crichton, president of international. U.S. president Maya Martinez-Davis offloaded 2,789 American depositary shares at $59.0729 apiece, the filing said. 4
Chief People Officer Diana Conrad unloaded 10,000 American depositary shares at $59.1802 on Feb. 9, according to a separate filing. While these kinds of sales typically relate to covering tax obligations when awards vest, they still have a way of rattling sentiment after a strong rally. 5
Miels is pushing to ramp up development and eyeing bolt-on acquisitions to bulk up the late-stage pipeline. “We need to accelerate what we have and to add to it via smart business development,” he said to reporters earlier this month. 6
Still, uncertainty hangs over the vaccine story, with regulatory reviews often dragging on. China isn’t likely to reach a decision until 2027. Demand, pricing, and access terms could shift well before that—particularly as international competitors move in on the respiratory space.
Next, GSK will report its first-quarter numbers Wednesday, April 29. Investors are zeroing in on updates about vaccine demand and how new product rollouts are faring during Miels’ first complete quarter as CEO. 7
