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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GlaxoSmithKline

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GSK changes its tune, plans to hold on to aging drug portfolio

GlaxoSmithKline has long weighed a sale of some of its established drugs, planning to hive off $3 billion worth of older products to slim down its sagging portfolio and make room for fast-growing drugs. Now the company is changing its tune, announcing today that it will hold on to its aging products.  

GSK makes deep job cuts as Advair sales crash fast

Even after going off patent in some markets, the sophisticated inhaler device for GlaxoSmithKline's Advair made it difficult to copy, protecting sales of the asthma drug. But with copies and competition now eating away market share, and payers demanding deep discounts, what Advair is giving GSK is grief, including the loss of at least 900 sales and research jobs in the U.S.

UPDATED: GlaxoSmithKline rips into RTP R&D group, chopping 900-plus jobs in global reorganization

The company says that the bulk of the job cuts will be made in Research Triangle Park, NC, slashing R&D as it concentrates drug research work in Philadelphia and Stevenage in the U.K.

GSK, NIH gear up for Ebola vaccine trial expansion after success in PhI

The race for an Ebola vaccine is ramping up with positive Phase I data from an experimental vaccine made by GlaxoSmithKline and the NIH's National Institute of Allergy and Infectious Diseases. And thanks to those results, larger trials could be on the way soon.

BMS makes cuts in China, reports say up to 1,000

Western drugmakers were pretty head-over-heels about prospects in China until authorities launched a bribery probe against GlaxoSmithKline which dragged on for a year and ended with a half billion dollar fine and people going to jail. That has left drugmakers to rethink their strategies there and for Bristol-Myers Squibb it means cutting hundreds off its payroll.

FTC orders Novartis to sell nicotine patch biz to approve consumer deal with GSK

The U.S. Federal Trade Commission found only one antitrust wrinkle in the combo of the consumer health units of GlaxoSmithKline and Novartis and says it has been ironed out. Novartis will sell its Habitrol nicotine patch business so the new joint venture will not have too much market sway in pricing of nicotine patches in the U.S.

Buzz: Deep job cuts looming at GlaxoSmithKline's U.S. ops in RTP, Philly

With sales of its flagship product Advair slipping as its new respiratory drugs fail to gain rapid traction, Big Pharma player GlaxoSmithKline is prepping some deep cuts in its U.S. operations, according to several reports over the holiday weekend.

GSK ready to ax hundreds in U.S., sources tell Bloomberg

GlaxoSmithKline is making big cost cuts to boost its finances next year as sales of its $8.25 billion asthma med Advair are deflated by competition, generic and otherwise. Reports are that hundreds of jobs are on the line in the U.S. and the culling will be announced this week.

GSK shareholders to vote on Novartis megadeal in December

Glaxo shareholders will soon have the chance to weigh in on an asset swap between GlaxoSmithKline and Novartis worth more than $20 billion.

Cambrian raises $10M for DNA printing tech used by GSK

Proponents of DNA printing have heralded it as a way to do everything from bringing alien life back from Mars to delivering vaccines in the event of a pandemic. And the technology has attracted GlaxoSmithKline and Roche, both of which have taken an interest in Cambrian Genomics.