$re = '/VD=([^|]+)/';
$str = 'PC=I;RS=128850544;RE=128850566;LEN=6;S1=36;S2=499.417;REP=2;VT=Ins;VD=SMO|CCDS5811.1|r.?|-|-|protein_coding:CDS:intron:insertion:intron_variant|SO:0000010:SO:0000316:SO:0000188:SO:0000667:SO:0001627;VC=intronic;VW=SMO|CCDS5811.1|r.?|-|-|protein_coding:CDS:intron:insertion:intron_variant|SO:0000010:SO:0000316:SO:0000188:SO:0000667:SO:0001627
PC=D;RS=72450731;RE=72450735;LEN=1;S1=72;S2=802.939;REP=3;VT=Del
PC=D;RS=72450731;RE=72450735;LEN=1;S1=72;S2=802.939;REP=3;VT=Del';
preg_match($re, $str, $matches, PREG_OFFSET_CAPTURE, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php