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.

Tag:

GlaxoSmithKline

Latest Headlines

Latest Headlines

J&J snaps up an NS5A inhibitor from GlaxoSmithKline for hep C cocktail

Rounding the bend on a likely approval for its hepatitis C drug simeprevir, J&J has acquired an NS5A replication complex inhibitor from GlaxoSmithKline to add to its combination approach to the disease.

GSK targets 2015 launch for malaria vaccine

Late-phase data has tempered expectations for GlaxoSmithKline's malaria vaccine. Yet while the vaccine prevents fewer cases than hoped and immunity wanes, it still has the potential to cut incidence of disease. Glaxo is readying for a regulatory submission. A malaria vaccine could arrive in 2015.

GlaxoSmithKline's Duchenne MD drug mirrors placebo effect in PhIII

John Kraus, GSK's medical leader for drisapersen, unveiled more data from the failed study on the exon-skipping technology, which fell short not only on its primary endpoint for improved walking distances in a 6-minute test but also flunked out on three separate secondary endpoints, with the outcomes looking almost identical in each case with a placebo.

GSK, Genmab seek first-line CLL use of Arzerra in EU

Arzerra has not yet been approved anywhere for a first-line use, but the companies believe that new data will boost its chances. It is asking for it to be used in combination with an alkylator-based therapy in patients for which a fludarabine-based therapy is not appropriate.

Case Western, GSK find promise with MS diagnostic 'probe'

Scientists at Case Western Reserve University School of Medicine in Cleveland, with colleagues at GlaxoSmithKline and Imperial College London in the U.K., believe they've discovered a way to circumvent that challenge.

GlaxoSmithKline's China sales set for 30% hit, analysts figure

As third-quarter earnings season nears, analysts are totting up the potential losses in China. And for GlaxoSmithKline, at the heart of the pharma bribery scandal there, the damage to sales may run up to 30%.

U.K. gov makes U-turn on link between GSK vaccine and narcolepsy

Evidence linking GlaxoSmithKline's swine flu vaccine to narcolepsy has mounted up this year, with new findings from Finland, Sweden and the United Kingdom emerging. Now, having previously knocked back compensation claims, the data has prompted the U.K. government to accept the link.

Glaxo, Roche, J&J and others score backing on big day for EU regulator

Friday, the EU's Committee for Medicinal Products for Human Use (CHMP) recommended 11 new drugs for a variety of diseases--the most nods it's given in a single meeting all year.

GSK gets double dose of good news for Breo Ellipta

GlaxoSmithKline got a double dose of good news today about its respiratory drug Breo Ellipta, known as Relvar Ellipta in other markets. Regulators in Europe recommended the potential blockbuster be approved there for COPD and asthma, while regulators in Japan gave it the OK for asthma.

EU body endorses 11 new drugs from Glaxo, Roche, J&J and others

A European Union regulator has recommended approval of 11 new drugs for a range of diseases such as HIV, breast cancer and diabetes. And the nods could lead to final approvals from the European Commission in the coming months.