GlaxoSmithKline pulled off a $20 billion asset swap with Novartis in April, hiving off its oncology business and building up in consumer health and vaccines in one fell swoop. But that restructuring might not be enough, CEO Andrew Witty tells the Financial Times. A future spin-off may be in order.
The British company said Thursday that it had received an email containing allegations from a whistleblower pertaining to bribes paid by GSK's consumer healthcare operation in Syria before it was shut down amidst the country's civil war in 2012.
GlaxoSmithKline is in the process of reviewing regulatory results from a June inspection that found that 10 areas of its Ste. Foy, Quebec, vaccine manufacturing plant needed improvements. But in the meantime, Health Canada has imposed a condition on the facility's license, requiring notice before Glaxo resumes production of Fluviral and FluLaval Tetra.
It's taken 30 years, but GlaxoSmithKline's experimental malaria vaccine is finally ready for regulatory review. Looking to bring the world's first shot for the mosquito-borne disease to market, the pharma giant said Thursday that it has submitted its candidate for approval.
Vaccines, which can be complicated and expensive to manufacture, haven't always been the moneymakers they are for some drugmakers today. Last year, the global vaccines market topped $25.56 billion according to Evaluate Pharma, with the world's 6 top-selling shots each cracking the blockbuster barrier.
GlaxoSmithKline says its three-part deal to sell and combine assets with Novartis should wrap up in the first half of next year and is now turning its attention to selling off some of its established drug portfolio, a category which took a 40% sales hit in the U.S. and 10% in the EU in Q2.
China has abruptly changed course on its plans to prosecute private investigator Peter Humphrey and his wife Yu Yingzeng in a closed trial. Now Humphrey and Yu, who were arrested last summer as part of China's investigation of bribery charges involving GlaxoSmithKline, will be tried in a public proceeding.
Codexis strengthened its ties to small-molecule synthesis this week through a deal with GlaxoSmithKline. The agreement will see GSK pay $6 million upfront and more in milestones to license the platform.
GlaxoSmithKline is touting stellar Phase III results for an in-development combo therapy for melanoma, saying its treatment beat out Roche's Zelboraf in overall survival and led independent advisers to recommend an early end for the study.
GlaxoSmithKline's bribery woes in China apparently go back a bit further than the $489 million scandal that broke last summer. The U.K. company has acknowledged that it fired about 30 staffers in its China vaccines business in 2001 after turning up evidence of corruption.