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

Analyst: GlaxoSmithKline's Tykerb dead in the water after breast cancer failure

GlaxoSmithKline's cancer treatment Tykerb took a blow last month when it failed a major late-stage trial in breast cancer. Now, at least one analyst figures the drug is crippled by that data--and that marketing it for breast cancer would be a waste of money.

GSK spinout Convergence ponders IPO leap as new wave of offerings crests

GlaxoSmithKline spinout Convergence Pharmaceuticals reported some positive results for a Phase II study of its pain drug today, setting up a Phase III launch early next year as the biotech ponders a possible IPO in either the U.S. or the U.K. after some pioneers finally managed to break into the British exchange.

Pharma execs weigh leaving China in wake of widening corruption crackdown

China's yearlong crackdown on allegedly corrupt practices by pharmaceutical companies has left foreign executives there spooked--so much so that some are asking their lawyers if they should leave the country altogether.

J&J and Glaxo's ViiV venture join up on combo HIV pill

Johnson & Johnson has signed a deal with ViiV Healthcare, the HIV-focused venture majority-owned by GlaxoSmithKline, to spin their two antivirals into a single tablet.

J&J teams with Glaxo's ViiV on an HIV combo treatment

Johnson & Johnson has signed a deal with ViiV Healthcare, the HIV-focused venture majority-owned by GlaxoSmithKline, to spin their two antivirals into a single tablet, potentially sparing patients from some harsh side effects associated with current therapies and challenging Gilead Sciences' dominance in the field.

Merck's RotaTeq, Glaxo's Rotarix cut hospitalizations by up to 94%

Rotavirus vaccines RotaTeq and Rotarix from Merck and GlaxoSmithKline, respectively, have seen uptake grow over the past several years. And with good reason, a new study shows: As the vaccines have become more widespread, the number of children hospitalized for rotavirus-related diarrhea has plunged.

What's the cure for China's corruption crackdown? Hire more locals

Big Pharma's reputation in China has taken a bruising in the last year after an investigation into GlaxoSmithKline's use of bribery to power sales there spilled over to questions into Roche, Novo Nordisk and others. So what's the industry to do to burnish its image and smooth over the situation with authorities? Hire Chinese nationals who can figure out the puzzle box that is Chinese healthcare.

New data backs GlaxoSmithKline's Incruse as an add-on to COPD med Breo Ellipta

GlaxoSmithKline recently added another new COPD med to its growing lineup, grabbing FDA approval for Incruse Ellipta last month. Now, data from a pair of new studies may help the company's respiratory reps find the drug's place in the market.

GlaxoSmithKline tees up another huge cardio PhIII after darapladib flop

After a costly string of defeats with the heart drug darapladib, GlaxoSmithKline's cardio unit is rolling into Phase III with another cardiac hopeful, launching an expansive late-stage effort for losmapimod, designed to prevent repeat heart attacks.

Glaxo settles multi-state off-label marketing probe with $105M fine

GlaxoSmithKline's latest penalty for improper marketing practices may seem little more than a slap on the hand--except that it's coming at the worst possible time for the embattled British drugmaker. GSK agreed to pay $105 million to settle charges in California, New York, Texas and more than 40 other states that it illegally promoted its asthma drug Advair and antidepressants Wellbutrin and Paxil.