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

GSK trims Witty's bonus in face of China probe

It remains to be seen how much GlaxoSmithKline's China bribery scandal will cost the British pharma, but it has already cost CEO Andrew Witty up to $410,000 in potential bonus money, according to the company's annual report.

GSK's new respiratory launches will give its revamped sales model a workout

When GlaxoSmithKline launched respiratory med Breo, media reports buzzed over the company's emphasis on the treatment's risks. But as GSK spokesman Juan Carlos Molina told FiercePharmaMarketing, hammering home risks--as well as benefits--is not necessarily something new for Glaxo.

Teva snags an EU recommendation for its asthma, COPD inhaler

European regulatory authorities gave Teva a positive opinion for its DuoResp Spiromax inhalation powder, designed to treat asthma and chronic obstructive pulmonary disease. With the recommendation from the Committee for Medicinal Products for Human Use, Teva hopes to have final approval within a few months.

EU breathes hope into GlaxoSmithKline's latest respiratory contender

A European Medicines Agency committee has recommended approval for another COPD treatment from GlaxoSmithKline, setting the stage for a likely nod in the coming months as the drugmaker looks to bolster its respiratory franchise.

British penalties for China bribery may be on the way for GSK

China has yet to leverage any formal penalties on GlaxoSmithKline for the $489 million bribery scandal that broke there last summer. But punishment may be on the way from GSK's home base.

EU Anoro nod lets GSK breathe deeper as Advair faces generic onslaught

While it's still unclear how long copycats will take to make a serious dent in GlaxoSmithKline's respiratory franchise once generic competition inevitably erodes sales of the $8.8 billion-selling Advair, Glaxo may soon have a new building block with European regulators' new recommendation for combo med Anoro.

GlaxoSmithKline's new lung drug Anoro wins recommendation from EU regulators

GlaxoSmithKline's lung drug Anoro Ellipta, key to rebuilding its respiratory franchise after megablockbuster Advair meets generic competition, won approval from European authorities.

GlaxoSmithKline lobbies for restrictions on e-cigs, which compete with its nicotine products

GlaxoSmithKline says it's worried about adequate regulation for e-cigarettes, and it's pushing Europe to require more. After all, more red tape to cut through for e-cigarette makers can't hurt the British pharma giant, which competes against them directly with its Nicorette gum and other quit-smoking products.

ViiV, Gilead sweep the pharma image competition--and Pfizer is close behind

According to the latest survey from PatientView, in the healthcare industry, multinational pharma companies rank next to last, reputation-wise. Biotech companies come in just above that. Since 2011, pharma's reputation, already not so hot, has slipped even further.

GlaxoSmithKline eyes rare disease to widen its respiratory lead

GlaxoSmithKline is looking to deepen its respiratory pipeline with another late-stage trial of the injectable mepolizumab, this time studying the drug's effects in a rare inflammatory disease that can be life-threatening.