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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Ahead of Novartis deal, GlaxoSmithKline scoops up vaccine developer in $190M buyout

Whatever GlaxoSmithKline learned about GlycoVaxyn in the two years since they inked a collaboration deal, it must have left the pharma giant feeling confident about the technology. GSK says today that it will scoop up the Swiss biotech, which is working on new vaccines for bacterial infections, for $190 million in cash.

Glaxo CEO says new lung meds are grabbing market share. Yes, really.

Last week, GlaxoSmithKline CEO Andrew Witty told reporters he sees the company's respiratory newcomers picking up steam. And that's not just some crystal-ball prediction for the future, he stressed. He's seeing it now.

Glaxo layoffs continue as 27 Montana vaccine workers get the ax

GlaxoSmithKline's job-chopping ax has struck Hamilton, MT, where 27 vaccine researchers will pack up this year. The pharma giant plans to centralize its R&D efforts in one location, but where that will be hasn't yet been decided, company spokeswoman Melinda Stubbee told local paper  Missoulian.

GSK lays off 27 vaccine researchers in Montana

As GlaxoSmithKline prepares to fold in the bulk of Novartis' vaccines unit--headed its way after their April 2014 multibillion-dollar asset swap--it's changing things up a little. And that includes closing the R&D branch of its vaccines lab in Hamilton, MT, this year.

GlaxoSmithKline blazes trail toward ViiV spinoff, with yea or nay expected midyear

The ViiV Healthcare spinoff GlaxoSmithKline first flagged last October is getting real. The company brought on a trio of top banks to advise it on what could become the pharma industry's largest-ever public share sale.

Report: GlaxoSmithKline moves toward an IPO for its HIV business

GlaxoSmithKline has hired a trio of banks to help it orchestrate a spinoff for the HIV-focused venture it majority-owns, Reuters reports, part of a companywide reorganization effort.

GSK to divest meningitis shots in exchange for EU clearance of Novartis deal

The European Commission has cleared GlaxoSmithKline's deal for most of Novartis' vaccines unit--on a couple of conditions.

First batch of GSK/NIH Ebola candidate shipped for Phase III trial in Liberia

GlaxoSmithKline's Ebola candidate will be the first of several experimental vaccines to undergo large-scale clinical trials. On Friday, the company shipped an initial batch of 300 vials of the vaccine, ChAd3, to Liberia, one of the main countries affected by Ebola.

Parexel moves to pick up laid-off GlaxoSmithKline workers

Parexel is leasing a North Carolina building from GlaxoSmithKline, part of a deal between the two in which the CRO will absorb some researchers on the way out as the drugmaker mounts a major restructuring.

GSK refutes reports the ax is about to fall on jobs in China

GlaxoSmithKline is struggling to grow sales post-China bribery scandal, cutting jobs in the U.S. while focusing on a long-term overhaul to manufacturing and R&D to chart some upward momentum. The company was said to be exploring job cuts in China to deliver a much-needed boost to its bottom line, but GSK is refuting those reports, potentially taking a different route to get business back on track.