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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Forget fighting over Flonase ads. GSK and J&J settle on fight for market share

GlaxoSmithKline and Johnson & Johnson have settled a short-lived legal spat over GSK's allergy drug marketing claims--meaning that now, the only battle left will be the one for market share.

GSK finally seals U.K. Bexsero deal for £20 per dose

A deal's done: Less than a month after receiving Novartis' stall of vaccines products, GlaxoSmithKline has ended the yearlong pricing standoff with the United Kingdom's National Health Service over meningitis B vaccine Bexsero.

Big Pharma joins the U.K.'s genomics project with eyes on drug discovery

A group of the world's leading drugmakers have joined the U.K.'s ambitious initiative to sequence the genomes of 100,000 Britons, mining the data with hopes of finding new pathways to treat cancer and rare diseases.

Actelion's PAH drug Opsumit gets Japan marketing nod, GSK's Encruse approved

Swiss-based Actelion Pharmaceuticals was granted marketing approval by Japan's Ministry of Health, Labour and Welfare for Opsumit (macitentan) for the treatment of pulmonary arterial hypertension (PAH).

GlaxoSmithKline mounts an open casting call for R&D starlets

GlaxoSmithKline is looking for some new partners in academia, launching a contest for would-be collaborators with early-stage projects that could translate into marketable medicines.

UPDATED: GlaxoSmithKline tags 180 sales-and-admin jobs for cutting in NC

Last year, GlaxoSmithKline announced plans to slim down its Research Triangle Park, NC-based operations, chopping 900 jobs. Now, it's telling state officials that almost 200 workers are heading for the door.

GSK, U.K. 'hopeful' they can strike a Bexsero price deal soon

It's been 7 months since price negotiations over meningitis B vaccine Bexsero began between Novartis and the U.K. government. And as far as new owner GlaxoSmithKline is concerned, that's long enough.

GlaxoSmithKline taps Cold Spring Harbor for diabetes R&D

GlaxoSmithKline has reached out to the storied Cold Spring Harbor Laboratory to collaborate on a potential treatment for Type 2 diabetes and obesity, inking a multiyear R&D deal.

With MenB vaccine Bexsero in hand, GSK aims for a price deal in England

Novartis may have spent 7 months negotiating fruitlessly with the U.K. government over the price of meningitis B vaccine Bexsero, but now that the product is in GlaxoSmithKline's hands, its new owner intends to do no such thing.

GSK's Breo for asthma? FDA panel says yes--but only in adults

Good news for GlaxoSmithKline: An FDA panel of experts says the efficacy and safety data for blockbuster wannabe Breo support the asthma indication it's gunning for in adults 18 and older. When it comes to children aged 12 to 17, though? The panelists aren't having it.