Manager, Global Regulatory Strategy - Oncology

GSK cuts 641 jobs in vaccine manufacturing restructuring. GSK will shut its Dresden vaccine plant by 2027, putting 641 jobs at risk as falling traditional flu vaccine demand pushes the company to consolidate production and pivot toward next-generation vaccines. Published September 15, 2026 at 10:23 am EDT GSK plc (NYSE:GSK) plans to close its vaccine manufacturing facility in Dresden, Germany, by summer 2027, putting 641 jobs at risk. The decision reflects declining demand for traditional egg-based flu vaccines, which has left GSK with more manufacturing capacity than it needs. GSK reviewed its Dresden and Ste-Foy, Canada, flu vaccine sites and chose to consolidate production in Canada, which it says can meet anticipated demand more sustainably and competitively. The closure comes as GSK plc (NYSE:GSK) is shifting its influenza strategy toward newer technology: the company is advancing an mRNA-based seasonal flu vaccine into Phase III after Phase II results showed stronger immune responses than standard-dose vaccines in younger adults and high-dose vaccines in older adults. The broader vaccine environment has also weakened, with Reuters reporting declining sales across flu, RSV, and other vaccines amid lower demand and policy-related pressures, increasing the importance of manufacturing discipline and portfolio selection. GSK's vaccine restructuring may strengthen cost efficiency. The closure could ultimately strengthen GSK plc (NYSE:GSK)'s margins and cash generation by removing excess capacity from a declining part of the influenza market rather than continuing to carry the fixed costs of an underutilized facility. GSK explicitly said demand for traditional egg-based flu vaccines is falling and that it has more capacity than required, while the Canadian facility can meet anticipated future demand competitively. This is particularly important because GSK's vaccine business remains a significant earnings contributor but is increasingly being driven by products with better growth prospects: second-quarter 2026 vaccine sales rose 8% to £2.3 billion, with meningitis vaccines up 21% and Arexvy sales increasing by more than 100%, while Shingrix generated £0.9 billion. The Dresden decision therefore looks less like a retreat from vaccines overall and more like a reallocation of manufacturing capacity away from mature egg-based products toward higher-value technologies. If GSK's mRNA flu candidate successfully progresses through Phase III and ultimately reaches commercialization, the company could replace declining traditional flu demand with a more differentiated product. The Phase II results are encouraging because the candidate produced stronger immune responses than currently approved standard- and high-dose vaccines across the tested populations. From a valuation perspective, disciplined capacity reduction could also reduce the risk that declining legacy vaccine volumes translate into persistent margin pressure. GSK's next-gen vaccine strategy still faces execution risk. The closure nevertheless highlights a structural weakness in GSK plc (NYSE:GSK)'s influenza franchise: demand for traditional flu vaccines is declining enough to make one of two dedicated manufacturing sites economically unnecessary. That creates a near-term risk that vaccine volumes and manufacturing utilization remain under pressure before newer products can compensate. The 641 affected positions also create the possibility of restructuring, severance, and other closure-related costs, while opposition from the German union and works council could make the process more complicated or expensive than a straightforward capacity reduction. More importantly, the replacement strategy is not yet proven commercially. GSK's mRNA flu vaccine has only reached Phase III, meaning the stronger immune responses observed in Phase II still need to translate into efficacy, regulatory approval, and meaningful market adoption. The broader industry backdrop adds another layer of risk: Reuters has reported falling vaccine sales and weaker returns across several vaccine categories, suggesting that even a technologically superior flu product could face pricing, demand, or reimbursement pressure. If traditional flu demand continues to deteriorate faster than GSK can commercialize next-generation vaccines, the Dresden closure could be evidence of a wider decline in the company's influenza opportunity rather than simply an efficiency improvement. Conclusion. The Dresden closure is more strategically positive than negative for GSK plc (NYSE:GSK), provided the company successfully executes the transition from traditional egg-based flu vaccines to newer technologies. Eliminating excess capacity should support cost discipline and potentially improve margins, while GSK's broader vaccine portfolio is still growing, with £2.3 billion of quarterly vaccine sales and particularly strong momentum in meningitis and Arexvy. However, the bear case is meaningful because the company is cutting capacity in response to real underlying demand weakness, while its key replacement opportunity, the mRNA flu vaccine, remains in Phase III. Overall, the closure should be viewed as a portfolio and cost-efficiency move rather than a signal that GSK is abandoning vaccines, but its long-term financial payoff depends heavily on whether newer vaccine technologies can offset the decline in conventional flu products.

LONDON BRIEFING: GSK in T-cell deal; Kier puts brakes on Property arm. 15th Sep 2026 07:58 (Alliance News) - GSK says it has struck a deal to acquire a promising T-cell asset, while Kier Group's annual profit beat consensus. FTSE 100: called 0.2% lower at 10,673.67 GBP: lower at USD1.3467 (USD1.3481 at previous London equities close) The UK jobless rate was steady in the three months to July, defying expectations of an increase, according to numbers from the Office for National Statistics on Tuesday. The UK unemployment rate remained at 4.9% in the three months to July, where it stood in three month stretch to June. According to consensus cited by FXStreet, it had been expected to rise to 5%. According to the ONS, payrolled employees in the UK fell by 101,000 on-year in July, declining 19,000 from June. An early estimate for August showed payrolled employees were 145,000 lower year-on-year and down by 26,000 from July. Over the three month period, average total earnings growth was 3.9%, cooling from 4.2% in the three months to June, but in line with FXStreet cited consensus. Excluding bonuses, earnings growth was 3.5%, also in line with consensus, and steady from June. Looking at the private sector alone, a figure closely tracked by the Bank of England, total pay growth abated to 3.2% in the period to July from 3.7% in the stretch to June. Excluding bonuses, private sector wage growth was steady at 2.9%. On Wednesday, there is a consumer price index report published at 0700, the final piece of the puzzle before a Bank of England decision on Thursday. According to consensus cited by FXStreet, the rate of inflation is expected to have accelerated to 3.1% in August from 2.9% in July. The UK government will "heed the warnings" of artificial intelligence experts who have highlighted the risks the technology could pose, First Secretary Louise Haigh will say Tuesday. Haigh, the de facto deputy prime minister, will acknowledge AI has the potential to transform public services, increase business growth and scientific progress. But at the TUC annual congress in Brighton she will say the government is prepared to work internationally to address the risks from the technology. Andy Burnham has welcomed the new focus on the dangers artificial intelligence could pose to the world from the industry leaders developing the new technology, Downing Street said. The UK prime minister thinks it is a "good thing" that leading AI figures are publicly speaking about the risks from the technology to global security, his official spokesman said. Dario Amodei, the boss of AI company Anthropic PBC, said on Saturday he was concerned that since this summer, AI has been "advancing drastically faster". Given the rate of development, Amodei said he was worried that within six to 12 months, AI could be capable of leading a swarm that could take over the entire internet. The entrepreneur, whose company is behind the AI assistant Claude, shared a three-part plan for building the technology at a "balanced rate". His essay, titled Share Prices Must Pace The Frontier, was supported by other industry leaders, including Grok boss Elon Musk and OpenAI co-founder Sam Altman. BROKER RATINGS Berenberg raises GSK to 'buy' (hold) - price target 2,200 (2,000) - pence COMPANIES - FTSE 100 GSK has struck a deal with Chimagen Biosciences to acquire "a potential best-in-class" T cell-engager aimed at treating multiple myeloma. GSK says it plans to develop and commercialise the asset to treat the cancer, with a programme expected to enter the early stage of trials in 2027. GSK will pay an upfront fee to acquire full global rights to the trispecific T cell-engager, with Shanghai-based Chimagen eligible to receive development and commercial milestone payments. In total, GSK says the programme has a total potential value of USD750 million. GSK says: "The Chimagen trispecific asset is designed to address this by binding to T cells while simultaneously targeting two strategically selected and validated tumour-associated antigens. This targeted approach aims to achieve a deeper and more durable response compared to existing TCEs, along with an improved tolerability profile. This could enable broader adoption and earlier use in multiple myeloma treatment, providing an important advancement for patients who may require multiple options depending on their treatment needs." The pharmaceutical firm says the US TCE market for multiple myeloma is expected to top USD10 billion by 2032. COMPANIES - FTSE 250 Kier Group says its annual earnings increased and the infrastructure and construction firm has lifted its payout. In addition, it set out capital allocation priorities, and announced a plan to halt investment in new Property developments. In the year to June 30, pretax profit rose 7.3% to GBP83.8 million from GBP78.1 million, while revenue increased 6.8% to GBP4.35 billion from GBP4.08 billion. Adjusted operating profit amounted to GBP169.8 million, rising 6.7% and beating company-compiled consensus of GBP167.8 million. "I am pleased to report that Kier has delivered another year of strong performance, achieving excellent revenue and profit growth. We continued to bolster the group's financial profile, reaching an average net cash position for the first time in over a decade, a significant milestone from which to build," Chief Executive Stuart Togwell says. Kier has maintained its final dividend at 5.2 pence per share, though its total annual dividend is up by 8.3% to 7.8p from 7.2p. Looking ahead, it set out three strategic priorities, growth, resilience and performance. It will focus on its core Infrastructure and Construction arms, look to strengthen its balance sheet by achieving over GBP200 million of average net cash by financial 2029 and it eyes enhancing "quality of earnings, targeting double-digit adjusted earnings per share growth". Kier says: "In line with these strategic priorities, from FY27 there will be no investment in new Property developments, with capital re-allocated to enhance the group's balance sheet strength. This process will be managed in a controlled way to balance timing and value, with capital to be realised in line with existing development schedules." For financial 2027, it expects earnings at the top end of prior board expectations. Consumer reviews platform Trustpilot Group reports a rise in half-year earnings and it says it is in line to meet its full-year goals. Pretax profit in the half-year to June 30 rose 32% to USD4.3 million from USD3.2 million. Revenue climbed 23% to USD151.4 million from USD122.8 million, rising 19% at constant currency. "We delivered a strong first half, with bookings up 18% at constant currency, led by outstanding momentum in the US and continued strength in the Enterprise customer segment," CEO Adrian Blair says. Adjusted earnings before interest, tax, depreciation and amortisation climbed 46% to a record USD26.3 million. Blair adds: "AI is proving a significant tailwind for Trustpilot. As consumers increasingly use AI to discover and evaluate businesses, trusted, independent feedback is becoming even more valuable to businesses. Trustpilot's scale and authority as the #1 cited review platform globally means our content is increasingly visible in AI-generated answers. We are innovating at an unprecedented pace to capitalise on this shift and help businesses succeed in the AI-driven world." Trustpilot says it is on track to achieve high-teens constant currency revenue growth for the full-year. OTHER COMPANIES Glenveagh shareholder Teleios Capital Partners has sold a EUR46 million stake in the housebuilder, trimming its holding to just under 11%. Teleios sold 20.6 million shares at EUR2.23 each, EUR46 million in total. The shares represent a 4.1% stake in Glenveagh and following the sale, investment manager and activist hedge fund Teleios owns 10.6% of Glenveagh. Glenveagh itself bought back a EUR20 million chunk of its own shares in the transaction. Jefferies International, the sole global coordinator and sole bookrunner, announced the results of the transaction. Glenveagh will not receive any proceeds. By Eric Cunha, Alliance News news editor Related Shares:

GSK acquires global rights to multiple myeloma asset, Wickes on track for 10pc jump in FY profits. LONDON PRE-OPEN The FTSE 100 was expected to open 23.2 points lower ahead of the bell on Tuesday, after wrapping up the previous session 0.44% firmer at 10,697.57. STOCKS TO WATCH Drugmaker GSK said on Tuesday that it would pay up to $750m to acquire full global rights to a trispecific T-cell engager for multiple myeloma from privately held biotechnology company Chimagen Biosciences. GSK stated the agreement includes an upfront payment and further development and commercial milestones, with the programme expected to enter phase I trials in 2027. DIY chain Wickes said it was on track to meet expectations of a 10% jump in adjusted annual profits despite an uncertain consumer environment. On Tuesday, Wickes posted a 1.1% rise in earnings to £27.6m for the six months ended 27 June, while like-for-like sales rose 0.7%. NEWSPAPER ROUND-UP Yemen's Houthi militants have seized two strategic islands in the Red Sea, reinforcing the Iran-backed group's ability to control a key shipping route, as concerns mount that the world is facing a new oil supply crisis. The seizure of the islands of Greater and Lesser Hanish is the latest in the militant group's swift advance across Yemen's Red Sea coast, after the capture of the port of Mokha and Perim island in the Bab al-Mandab strait. - Guardian Economists have urged the chancellor, John Healey, to press the Bank of England to slow down its bond-selling programme that has already cost the exchequer billions of pounds. The Bank's monetary policy committee meets this week to not only decide the level of interest rates but also whether they should freeze or slow the sale of government bonds, known as gilts, bought as part of the rescue operation after the 2008 banking crash. - Guardian The UK spent £84bn on buying oil, gas and electricity from abroad last year, amid warnings that high taxes are killing jobs in the North Sea and risking energy security. The figure is the highest since 2022, when Vladimir Putin's invasion of Ukraine plunged Europe into the most severe energy crisis in decades. A report by Offshore Energies UK, which represents the oil, gas, hydrogen, carbon capture and offshore wind industries, also said imports accounted for more than 40% of the country's energy needs. It warned that this leaves families and firms more vulnerable to global disruption. - Telegraph Labour ignores rising energy, tax and regulatory costs "at our peril", Ford's UK chief has warned, amid fears of a fresh raid on business. Lisa Brankin said the car giant's British operations were already under heavy pressure, forcing the company to work "really hard to make sure that we keep what we've got". Speaking to The Telegraph during a tour of Ford's Dagenham plant, she said: "I think we neglect the cost issue at our peril, if we think that new jobs will stay here irrespective of cost." - Telegraph The maker of Lucky Strike and Dunhill cigarettes was a prominent sponsor at the annual conference of Reform UK, which has vowed to scrap the incoming lifelong smoking ban. British American Tobacco and its Omni brand, an initiative to further its nicotine products business, was the sponsor on lanyards worn by delegates at the party's conference in Birmingham this month. - The Times Major indices were in the red at the close on Monday as investors assessed fresh uncertainty around the artificial-intelligence IPO pipeline and monitored another jump in oil prices. At the close, the Dow Jones Industrial Average was down 0.29% at 52,421.20, while the S&P 500 shed 0.48% to 7,619.98 and the Nasdaq Composite saw out the session 0.56% weaker at 26,186.41. Reporting by Iain Gilbert at Sharecast.com