GSK’s Overhaul Undermined by Decline From Older Medicines

GSK Plc’s older respiratory medicines showed lackluster sales in the first quarter, leaving HIV and cancer drugs to drive growth and sending shares into their steepest dive in almost two years.

The stock fell as much as 8.8% in London trading, largely wiping out this year’s gains, as the weakness in GSK’s general-medicines division overshadowed higher-than-expected earnings.