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 GSK, -5.13% were trading at £14.91 in early action Thursday, a decline of 7%, and worse than the £15.44 implied by the U.S. close.
Put a different way, the ADRs GSK, -3.57% 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, -11.01% 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.