Listed as number three in pharma sales, GlaxoSmithKline has had some rough luck thanks in part to the diabetes drug Avandia, which has been pulled out of Europe and restricted in the U.S after global side effect concerns since 2007. The company cut its losses on the drug, writing off $233 million in supplies and eliminating its marketing efforts of the drug.

The company has racked up some charges against its earnings, including over $6 billion in the fourth quarter of 2010 from Avandia and marketing settlements. GSK settled 10,000 Avandia lawsuits for a combined $460 million. Also, the company hit number three on FiercePharma's Top Layoffs of 2010 list with 5,201 jobs lost. While other companies look towards more spinoffs, GSK has focused on emerging markets as its ticket to higher revenue. It purchased Laboratorios Phoenix in 2009 and China's MeiRui in 2010; the UK-based company said the impact of its layoffs would be masked by more job opportunities in Asia and South America.

In early 2011, GSK and Human Genome Sciences gained FDA approval for Benlysta, the first new lupus treatment in more than 50 years, and experts believe it could be a $3 billion to $5 billion worldwide sales heyday for the partnership. But the FDA denied an extended approval and a potential $1 billion in sales to GSK from the prostate drug Avodart. While the drug was effective against low-risk malignant tumors, it potentially heightened the risk of developing more aggressive tumors.

GSK spun off its HIV treatments into ViiV Healthcare in 2009, combining it with Pfizer's former R&D efforts in the field. ViiV markets Ziagen, Trizivir, Epzicom and abacavir as part of its suite of drugs for HIV/AIDS.

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UPDATED: Evidence that inhaled oxytocin improves social behavior among autistic patients spurs R&D

Additional evidence that oxytocin increases eye contact among autistic patients adds urgency to the efforts of GlaxoSmithKline, OptiNose and other companies scrambling to develop an inhaled version of the "love hormone."

Sun Pharma buys GSK's Tasmania opiates business to expand pain offerings

India's top drugmaker, Sun Pharmaceutical Industries, has agreed to buy GlaxoSmithKline's opiates business in Australia, placing it as one of three owners that control the crop and production in Tasmania that is the world's largest legal supplier of pharmaceutical-grade opiates for painkillers.

Post-Novartis deal, GSK's top dog in vaccines, consumer health. Now what?

GlaxoSmithKline and Novartis have finally closed the multibillion-dollar asset swap that's sending GSK's oncology portfolio to Switzerland in exchange for most of the latter's vaccines unit. Now, all eyes will be on the British pharma giant, who industry watchers agree has more to prove after exiting the fast-growing cancer field.

GSK deal's done. Now, Novartis has to deliver on cancer-growth pledge

Novartis has been rubbing its hands together in anticipation of taking over GlaxoSmithKline's cancer portfolio. Now it can. The two drug giants wrapped up their big sale-and-swap, putting Novartis in charge of GSK oncology meds, from Arzerra to Votrient.

GSK annual report says China bribery case spawned surge in compliance 'contacts'

It turns out the GlaxoSmithKline whistleblowers who blew the top off the China corruption scandal had hundreds of copycats later on.

GSK CEO Witty's pay whacked as U.K.'s largest drugmaker struggles to right itself

2014 was a tough year for GlaxoSmithKline. Its revenues and profits were off significantly. Its operating profit was off nearly 50% in pounds--and, as it turns out, so was CEO Andrew Witty's pay. In fact he took a 46% whack to his compensation.

GlaxoSmithKline's new chairman will climb aboard months earlier than expected

GlaxoSmithKline says Sir Philip Hampton is free to take the reins in May.

Sidelined after tampering incident, GSK's alli is back on sale

After nearly a year off the shelves, GlaxoSmithKline's diet pill alli--recalled after reports of tampering--is back in most U.S. stores, and it's got some updates that should make any future tampering easier to spot.

UPDATED: NIH funds studies of J&J's and GSK's injectable HIV meds, says daily pills lead to noncompliance

In bid to improve patient adherence, the U.S. National Institutes of Health is funding and helping run two clinical trials of long-acting injectable HIV candidates being developed by Johnson & Johnson's Janssen and GlaxoSmithKline.

Lupin inks two partnerships to bring lung drugs to overseas markets

Indian drugmaker Lupin announced two separate developments in its asthma drug delivery segment, launching one product in the U.S. and signing a development agreement for a generic version of GlaxoSmithKline's Advair Diskus, which would be commercialized in North America and other markets.