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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Heads will roll at GlaxoSmithKline, investors say. The question is, whose?

China corruption settlement, check. Now GlaxoSmithKline CEO Andrew Witty needs to come to terms with investors. With quarterly sales off and new drugs lagging, shareholders are demanding change at the top--and this time, some are willing to go on the record.

GlaxoSmithKline, Avalon launch a pair of new build-to-buy biotechs

GlaxoSmithKline and San Diego-based Avalon Ventures have crafted two new biotechs which will explore the therapeutic potential of a pair of new drugs. These companies, dubbed Silarus Therapeutics and Thyritope Biosciences, will each get a $10 million Series A and research support from the venture group and its Big Pharma partner, which will consider whether it wants to snap up the companies once they hit the proof-of-concept stage a few years down the pipeline.

GSK China scandal resolved with $500M fine and suspended jail sentence

Chinese justice came swift and in secret for GlaxoSmithKline today. A top executive narrowly escaped prison, and the company was convicted and will pay a fine of nearly $500 million for bribery in a country known for its corruption.

Glaxo Ebola vax shows no adverse effects so far in first human trial

With the Ebola death toll mounting in West Africa, a Phase I trial of GlaxoSmithKline's experimental vaccine for the disease is underway at the U.S. National Institutes of Health.

NICE says 'yes' to GSK's melanoma pill, but only with a price cut

Britain's drug price watchdog, the National Institute for Health and Care Excellence (NICE), has given the go-ahead to GlaxoSmithKline's Tafinlar, which is among the new class of melanoma drugs that target tumor mutations. Not surprisingly, though, there's a catch: GSK must provide the drug at an undisclosed discount, according to NICE's guidance document announcing the decision.

10 volunteers receive Glaxo Ebola vaccine with no adverse effects yet

As the death toll of West Africa's Ebola outbreak reaches 2,500, GlaxoSmithKline's experimental Ebola vaccine is being tested at the U.S. National Institutes of Health with no apparent ill effects so far, health officials report.

Biotech R&D is changing. Don't get left behind

Over the last few years we've seen some big changes in the way some drugs are developed. What better time to host a new FierceBiotech executive panel discussion on current trends in late-stage development?

Glaxo's Ebola vaccine passes key animal test as human trials begin

Ebola vaccine research is moving ahead at lightening speed thanks to combined public and private sector efforts, with GlaxoSmithKline unveiling fresh data showing that its experimental jab protected monkeys in a preclinical study.

Feds eyed GlaxoSmithKline's Chinese consumer biz for bribery, too

GlaxoSmithKline may have a bigger problem in China than previously thought. Before news about potential corruption in its pharma business surfaced, U.S. officials were already looking into possible bribery in its consumer healthcare unit. And so was GSK.

Glaxo's Ebola vaccine effective in monkeys but may require booster shot

A vaccine under development by GlaxoSmithKline to prevent Ebola infection showed protection in monkeys that were exposed to the deadly pathogen. But if given to people, the preventive method would likely require a booster shot after the initial inoculation, according to a new study.