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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If GSK's chief wants to be Mr. Clean, he needs to get out the broom

GlaxoSmithKline says it's rolling out sales and marketing reforms around the world. Apparently, the changes come none too soon. The British drugmaker opened another bribery investigation, this time in Iraq, to check out allegations that it paid government-employed physicians to promote its products.

If Glaxo's CEO wants to be Mr. Clean, he needs to pick up a broom

GlaxoSmithKline says it's rolling out sales and marketing reforms around the world. Apparently, the changes come none too soon. The British drugmaker opened another bribery investigation, this time in Iraq, to check out allegations that it paid government-employed physicians to promote its products.

GlaxoSmithKline confronts new bribery allegations, this time in Iraq

Bribery allegations against GlaxoSmithKline are no longer confined to China. New claims have forced the pharma giant to open investigations on a second front, with the company now looking into possible corruption in Iraq, the company said Sunday.

Glaxo fires some China staff for malpractice amid stepped-up surveillance

With GlaxoSmithKline's China operations under investigation amid bribery allegations, the company is keeping its employees there under a more watchful eye.

Amgen, GSK part on fast-selling Prolia, mostly

GlaxoSmithKline and Amgen are parting ways on Prolia, their comarketed osteoporosis med that's been among the fastest-growing products approved in the last few years. Amgen will take over the task in most areas under their agreement, leaving GSK freer to buckle down on some new launches of its own.

Big Pharma dusts itself off in China scandal, but crackdown isn't over

Nine months after GlaxoSmithKline's bribery scandal first ignited a corruption hunt among Big Pharma companies in China, drugmakers--GSK excepted--are returning to the strong emerging-markets growth they're accustomed to in the country.

GSK will tailor vaccine portfolio, improve access as part of wider Africa initiative

GlaxoSmithKline has long been a leader in producing vaccines for Africa, but now it's going one step further. The British pharma will tailor a portfolio of meds to address specific health needs on the continent and increase the registration of drugs and vaccines it already has, the company said this week.

GlaxoSmithKline admits defeat in PhIII cancer vaccine trial

Less than two weeks ago, after its cancer vaccine flopped in a Phase III lung cancer trial, GlaxoSmithKline said it would continue looking for improvements among patients with a certain genetic makeup. But no longer: The British drugmaker has put the kibosh on the trial, establishing that it won't be possible to ID a subpopulation that will benefit.

GlaxoSmithKline yanks Paxil batches after FDA warning letter

GlaxoSmithKline has its second recall in as many weeks on its hands, this time affecting batches of the antidepressant Paxil that contain an ingredient manufactured at an Irish plant the FDA says isn't up to snuff.

ViiV adds pricey new HIV drug Tivicay to patent pool

GlaxoSmithKline CEO Andrew Witty set a precedent back in 2009, when his company placed several patents in a public pool to help developing countries find cures for HIV and other diseases--and then challenged other companies to do the same.