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

GlaxoSmithKline's China probe triggers U.S. bribery investigation

Once again, GlaxoSmithKline has the U.S. Justice Department on its tail. Prosecutors are investigating bribery allegations that Glaxo faces in China, trying to determine whether the drugmaker violated U.S. law.

GlaxoSmithKline picks up online collaboration tools for medical staffers

In an  InformationWeek  profile, GlaxoSmithKline touts the benefits of a new online collaboration system, including the savings on travel expenses and satisfaction of the pharma giant's customers.

PhIII data dents GSK's hopes for cancer vaccine

Coming into 2013 GlaxoSmithKline highlighted a cancer vaccine as one of its brightest late-phase candidates. Yet, like many cancer vaccines before it, MAGE-A3 has disappointed at the final hurdle.

FDA staff plugs efficacy of projected COPD blockbuster from GSK and Theravance

GlaxoSmithKline and partner Theravance are closing in on an important advisory committee meeting for their experimental lung drug Anoro Ellipta next week. And FDA staff has noted in a briefing document that the combination therapy for COPD was effective at two doses, Bloomberg reported.

Would GSK pull out of China altogether?

GlaxoSmithKline is in the middle of a firestorm in China, accused of bribery and potentially facing massive fines from the government. The very public scandal has left a chill on business for it and other drugmakers in this key market. But even with all of that, would the British drugmaker actually pull out of the most populous country in the world, on which it has bet heavily?

GlaxoSmithKline near $1.6B drinks-brands sale to Japan's Suntory

GlaxoSmithKline may be on the verge of bidding goodbye to two of its drinks brands. Japan's Suntory Beverage & Food is in advanced talks to buy Lucozade and Ribena, the brands GSK put up for sale early this year, for more than £1 billion ($1.6 billion),  Reuters  reports.

In big setback, GlaxoSmithKline's cancer immunotherapy MAGE-A3 flunks PhIII goal

GlaxoSmithKline experienced a major R&D setback today, reporting that its targeted cancer immunotherapy MAGE-A3 failed its first co-primary endpoint in a Phase III study for melanoma, failing to beat out a placebo in spurring disease-free survival.

China talks about massive fines against GSK

It's never good when authorities talk openly of imposing "astronomical" fines on a drugmaker. But China officials have suggested that about GlaxoSmithKline, even as a spray of Chinese news reports accuse former GSK China leader Mark Reilly of fostering a culture that encouraged doing whatever neccessary to hit huge sales goals.

GlaxoSmithKline's China unit officially engineered bribery, police say

Contrary to GlaxoSmithKline 's official explanations, Chinese  police say rogue executives didn't engineer $489 million in alleged bribes. The company itself organized the scheme, they say, and made sure internal auditors didn't uncover it.

China probes of Glaxo, Sanofi, others put big chill on key growth market

The recent, and very public, Chinese investigation into bribery allegations against GlaxoSmithKline and others has doctors running scared, making it tough for everyone to sell drugs there.