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.



Latest Headlines

Latest Headlines

GSK-backed SetPoint raises $15M to advance anti-inflammatory, neuromodulation device

SetPoint Medical has an ambitious aim to use bioelectronics to treat inflammatory ailments and an equally impressive line-up of venture investors--including several strategic ones. Now it's added $15 million to a Series C round that originally closed in August 2013 to hit a total of $43 million. The financing will go to further advance its neuromodulation device in clinical studies to treat rheumatoid arthritis and Crohn's Disease.

GSK inks exclusive vaccines deal with new GlycoVaxyn affiliate

When GlaxoSmithKline bought out GlycoVaxyn for $190 million earlier this year, it gained a set of early-stage vaccines and commissioned GlycoVaxyn's team to create a new company around its existing research operation. That company is LimmaTech Biologics, and now, it and GSK have struck a 5-year exclusive agreement to develop novel bioconjugate antigen-based vaccines.

GlaxoSmithKline signs on LimmaTech for vaccine R&D

When GlaxoSmithKline bought out GlycoVaxyn for $190 million early this year, it gained a set of early-stage vaccines and commissioned GlycoVaxyn's team to create a new company around its existing research operation. That company is LimmaTech Biologics, which announced the start of its operations on Friday.

Adaptimmune pockets GSK payouts after tripling size of TCR trial

Adaptimmune has bagged two milestones from GlaxoSmithKline. The checks landed in Adaptimmune's bank account after it tripled the size of a Phase I/II synovial sarcoma trial of its NY-ESO-1-targeting T-cell receptor (TCR) therapy on the strength of data from the initial cohort.

GSK hep B supplies to Japan hit by Tianjin explosion

GlaxoSmithKline faces constraints in supplying hepatitis B treatment Tenozet in Japan because of curbed operations at its China plant that makes the treatment after a massive chemical explosion that rocked country's Tianjin manufacturing hub in early August.

Struggling GSK inks a translational deal with QB3

San Francisco incubator QB3 is linking up with pharma giant GlaxoSmithKline on some translational work, looking to push a few academic research projects toward the clinic.

Lilly, Sanofi, Novo among many pharma players to throw off big price gains in H1

The first half of the year has provided a good ride for Big Pharma and its investors with indices up in the U.S. and Europe. Even Japanese drugmakers avoided the side effects of China's stock market meltdown and saw values rise 23%. But, of course, averages come from the highs and the lows and some players have actually seen share price declines during this bull market.

Novartis shells out up to $1B to test GSK's Arzerra in MS

Thanks to the companies' recent multi-billion-dollar asset swap, Novartis already has the rights to former GlaxoSmithKline drug ofatumumab's cancer applications. But now, it's forking over up to $1 billion to gain full control of the med--currently marketed as Arzerra--and to test it as a therapy for multiple sclerosis.

GlaxoSmithKline flips an MS project to Novartis for up to $1B

Novartis is paying GlaxoSmithKline as much as $1 billion for the rights to a mid-stage multiple sclerosis treatment, betting it can develop an heir to the blockbuster Gilenya, soon to lose patent protection.

GSK OTC push marred by super-sized recall of toothpaste

The decision of GlaxoSmithKline CEO Andrew Witty to double down on consumer health products has not been very popular with some investors, who question the strategy of focusing on low-margin, high-volume products like toothpaste. Well, Witty has a whole lot less toothpaste to sell right now, since GSK has recalled more than 3.9 million tubes that may have more than whitener in them.