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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Avalon, GlaxoSmithKline launch 3 new biotechs with $30M commitment

San Diego-based Avalon Ventures has doubled up on its pipeline of programs being developed in partnership with GlaxoSmithKline. The venture group has launched three new companies, plucking new drug projects that range from cardiovascular disease, to cancer to a rare lysosomal storage disorder.

GSK deal keeps paying off for Novartis with more positive Arzerra data

Earlier this year, Novartis became the owner of a number of new oncology assets thanks to its multibillion-dollar asset swap with GlaxoSmithKline. And Friday, it released some positive new survival data for leukemia drug Arzerra that adds to the evidence that the trade was a good one for the Swiss drugmaker.

GlaxoSmithKline's new asthma drug gets a split vote from FDA advisers

A group of FDA advisers backed GlaxoSmithKline's latest asthma treatment for use in adults but balked at recommending it for adolescents, setting the stage for a likely approval in the fall.

Second investigator linked to GSK bribery scandal released from Chinese prison

Earlier this week, Chinese authorities released Peter Humphrey--a private eye linked to GlaxoSmithKline's 2013 bribery scandal--from local prison after a court reduced his sentence by about 7 months. And now,  The Wall Street Journal  reports that they've released his wife and partner Yu Yingzeng, too, cutting short her sentence by one month. 

One dose of GlaxoSmithKline's Cervarix may suffice

The recommended schedule for HPV vaccination is two or three doses, but some patients never make it back for all of the shots. This may cease to be a concern if future trials prove what scientists reported on Wednesday: A single dose of GlaxoSmithKline's Cervarix could work as well as the recommended two- or three-dose regimens at preventing the majority of cervical cancers.

India competition body cracks down on GSK, Sanofi

Citing an anticompetitive agreement that was "clearly made out," India's Competition Commission took issue with GlaxoSmithKline and Sanofi's operations in the country this week and fined the international pharma nearly $10 million.

GSK-linked private eye released early from Chinese prison

Last summer, Chinese prosecutors sentenced Peter Humphrey--a private eye linked to GlaxoSmithKline's 2013 bribery scandal--to 2.5 years in prison. But now, after serving about two years, he's been released.

GSK's Advair dogged again as Mylan launches first bioequivalent copy in U.K.

GlaxoSmithKline is already struggling with sales of aging respiratory superstar Advair, and Mylan just made its job more difficult.

GSK, Sanofi hauled up by India's competition watchdog on vaccine tenders

India's competition watchdog said that government vaccine procurement rules favored multinational drugmakers Sanofi and GlaxoSmithKline and the companies colluded in pricing, according to the Economic Times, charges that both companies denied in response to queries from FiercePharmaAsia.

Fresh off Novartis consumer deal, GSK slices off 350 workers to hit cost-squeezing targets

Now that it's teamed up with Novartis' consumer health unit to form an industry-leading joint venture, GlaxoSmithKline's OTC business is bigger than ever. But its payroll is about to get smaller, with 350 layoffs hitting the operation.