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.



Latest Headlines

Latest Headlines

'Volume' is the magic word for Glaxo as it works to turn sales around

Payers have put the squeeze on GlaxoSmithKline's top seller Advair, helping sink its sales and send company revenues tumbling. So GSK doesn't want to play with fire by hawking more high-priced meds. Instead, the company's identified a different path to growth, it said Wednesday--and the name of the game is volume.

GSK's vaccine operating profit, margin dive on Novartis fold-in

GlaxoSmithKline will have some questions to answer this week after reporting its first quarterly results with Novartis' former vaccines stable. The company's vaccines unit saw its operating profit plummet and operating margin decline after folding in the Swiss drugmaker's business.

GSK's U.S. Advair sales plummet 22% in Q1--and that's without generics

GlaxoSmithKline's respiratory woes continued in Q1, with stateside sales of aging blockbuster Advair sinking 22%. The company has pricing pressure to thank for that slide.

Embattled GSK scraps ViiV spinoff as pharma revenues tumble

About that ViiV Healthcare spinoff GlaxoSmithKline's been looking at--it's not happening, the pharma giant says.

Hampton steps into GSK chairman role as discontent with Witty builds

GlaxoSmithKline is facing sluggish sales in the U.S. and revenue growth that falls behind that of its Big Pharma rivals, not to mention scrutiny for CEO Andrew Witty. So Philip Hampton will have his work cut out for him as he steps into his new role as the company's chairman and attempts to revive the company's lagging fortunes.

GlaxoSmithKline files for gene therapy OK as a case of the jitters sets in

Close to 5 years after GlaxoSmithKline signed on to collaborate with the San Raffaele Telethon Institute for Gene Therapy in Italy, the partners have stepped up with a European application to start marketing a gene therapy for extraordinarily rare cases of immune deficiency triggered by ADA-SCID. And its delivery into regulatory hands comes as the gene therapy field has been recoiling from some notable setbacks that have begun to cloud what has been a bullish sector in biotech.

GSK weighing scrapping investor payout to boost dividend instead

Analysts are suggesting that GlaxoSmithKline is thinking hard about scrapping a plan to reward investors by paying them about £4 billion and instead use money from its deals with Novartis to prop up its dividend, Reuters reports.

GSK wins asthma nod for blockbuster wannabe Breo

GlaxoSmithKline CEO Andrew Witty recently said slow-starting respiratory newcomer Breo was finally gaining some market traction. And now, it has a new asthma indication the company hopes can help speed things along.

GSK's social media savvy bags it 2nd place in digital ranking of big British businesses

GlaxoSmithKline has shone in a ranking of the social media savvy of the 100 largest publicly traded firms in the United Kingdom. The Big Pharma ranked second on the list, an outcome that suggests at least some drugmakers compare favorably to their peers in other industries.

GSK buoyed by early numbers on Anoro, Breo DTC campaigns

GlaxoSmithKline needed to jump-start sluggish sales of its respiratory newcomers Breo and Anoro after early uptake fell short of expectations. Now a targeted DTC push may be charging up sales.