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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UPDATED: GSK closes consumer healthcare plant

GlaxoSmithKline has again said it will close a consumer healthcare plant in Clifton, NJ, and move production to a facility in New York.

Sanofi, Glaxo sign up for vaccine R&D projects under new Gates initiative

In its joint venture, Glaxo will front $1.8 million for work on the thermostability of vaccines. GSK will set out to make adjuvants--used to boost the effectiveness of vaccines--more heat stable. The project fits within the broad scope of work attempting to break the "cold chain" supply process that requires vaccines to remain refrigerated--a big challenge for developing countries.

GlaxoSmithKline saves $431M moving retirees to private healthcare exchanges

Yesterday, GlaxoSmithKline CEO Andrew Witty congratulated his CFO for digging in for long-term cost-savings--namely spending on healthcare coverage and pensions. Thanks to Simon Dingemans' work on retiree medical benefits, for instance, the company saved £267 million last quarter, or about $431 million.

Meta-analysis links flu vaccine to lower risk of heart attack and stroke

The discovery of a correlation between the flu vaccine and decreased risk of heart attack was met with skepticism earlier this year, particularly in light of GlaxoSmithKline's financial support of the study. But now, several months later, a new, more definitive analysis has identified the same trend.

GlaxoSmithKline bribery probe takes 61% bite out of China sales

One big question about GlaxoSmithKline's third quarter now has a definite answer: The Chinese bribery probe took a bite out of sales in the country--and a bigger bite than analysts expected. Revenue there was down 61% for the period, as doctors and sales people alike were spooked into staying behind closed doors.

Report: Feds get big 'bang for the buck' in fighting pharma fraud

The latest report on healthcare fraud settlements is out, this time from Taxpayers Against Fraud. And this time, as usual, Big Pharma features prominently. The anti-fraud group regularly totes up whistleblower settlements with federal and state governments, and we all know that drugmaker payments account for billions.

Top 10 DTC Pharma Advertisers- H1 2013

The U.S. is one of only two countries that allow direct-to-consumer (DTC) advertising of pharmaceuticals, and opinions on whether doing so is a good idea are all over the place, even among doctors....

Telegraph: GlaxoSmithKline's ex-China chief barred from leaving country

GlaxoSmithKline's former China chief, absent from the country when bribery allegations surfaced this summer, returned in late July to cooperate with investigators. Now, The Telegraph reports that Mark Reilly is no longer on the scene voluntarily. Chinese authorities have barred him from leaving the country, the U.K. newspaper reports.

Glaxo's Witty calls for £1B U.K. R&D fund

U.K. researchers are senselessly competing with each other for funds, GlaxoSmithKline CEO Andrew Witty said, and the time has come for the government to pony up £1 billion ($1.6 billion) and dedicate it to collaborative R&D across the country's academic institutions.

How do U.S. drugs come to cost more? Let us count the ways

Why the disparity in drug prices? It's a question asked repeatedly, and the specific answers are multifarious and complex.