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 to test Ebola jab with booster from Emergent BioSolutions

GlaxoSmithKline is testing its Ebola jab in Africa to see if it provokes an immune response strong enough to successfully beat an Ebola infection. But if it turns out to be too weak, never fear--the Big Pharma has a plan. It's teaming up with Maryland-based Emergent BioSolutions to test the latter's Ebola shot as a booster for its own vaccine.

J&J stays mum about cash, but biotech buyout is a landmark win for Index fund

J&J has snapped up XO1 for an undisclosed sum. It's a single-asset biotech offering a second-generation antithrombin to J&J's Xarelto. And it's the first to be sold off from a portfolio of 16 molecules that Index Ventures put together after assembling one of the original "asset-centric" funds.

GSK's hopes for expanded Breo use face safety scrutiny from FDA panel

Last month, GlaxoSmithKline CEO Andrew Witty told reporters that its new, slow-starter lung drugs were finally picking up steam. That's something the company would like to keep going, and an asthma nod for Breo Ellipta could help that happen. But first, GSK will have to get by an advisory committee panel that has some questions about the drug's safety.

Struggling GlaxoSmithKline warns of 150 R&D/commercial job cuts in Philadelphia

Close to three months after GlaxoSmithKline revealed that it is making deep cuts in its R&D group in North Carolina as part of a major reorganization in the U.S., the pharma giant detailed plans to ax up to 150 more staffers and shutter units in its commercial/R&D group in the Philadelphia area.

England to provide GSK MenW vaccine to 3 million teens

England has decided to offer meningitis W vaccination to three million teens after a steep rise in cases--and local vaccine giant GlaxoSmithKline will be reaping the benefits.

J&J, GSK in legal dust-up over Flonase allergy claims

Spring is arriving, bringing with it pollen, allergy suffering, and litigation. With a $35 billion allergy market at stake, Johnson & Johnson and GlaxoSmithKline are duking it out over whose products do the best job of treating sniffling, sneezing and stuffy noses.

Glaxo to reap $890M as it halves stake in South Africa's Aspen

Less than a year and a half ago, GlaxoSmithKline decided to sell off a chunk of its stake in fast-growing Aspen Pharmacare and reap the rewards from its investment. And now, it's doing the same thing again--this time with a larger piece.

Glaxo plants a flag in Singapore with CEO Witty on hand

GlaxoSmithKline planted its flag in Singapore to build on a close relationship with the government of the wealthy city-state where CEO Andrew Witty worked and lived earlier in his career with the U.K. drugmaker.

Glaxo plants a flag in Singapore with CEO Witty on hand

GlaxoSmithKline planted its flag in Singapore to build on a close relationship with the government of the wealthy city-state where CEO Andrew Witty worked and lived earlier in his career with the U.K. drugmaker.

GSK sacks 100-plus China workers for misconduct in wake of bribery scandal

GlaxoSmithKline is breaking out the broom once again to clean up its act in China. It's dismissed more than 100 employees there for misconduct in part of what it calls a "zero tolerance" approach--but the fired workers aren't taking their dismissal lying down.