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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GSK's Arnuity approval adds another rebuilding block to respiratory franchise

GlaxoSmithKline has rolled out a slew of respiratory meds lately, looking for newcomers to take up the torch as Advair sales fade. After notching three approvals on the COPD side, now, the pharma giant has a brand new asthma treatment on its hands in Arnuity.

GlaxoSmithKline grabs FDA approval for its latest asthma treatment

GlaxoSmithKline's banner respiratory division picked up another FDA approval, securing the agency's blessing for an inhaled asthma treatment as it expands its stable of drugs for airway disorders.

Mylan, private equity, Indian pharmas to compete for cast-off GSK brands

The second round of bidding for a portfolio of aging GlaxoSmithKline drugs is about to begin, and a bevy of big names is expected to participate. The product portfolio--which includes such drugs as Paxil for depression, the antimalarial Malarone, and the fish-oil based Lovaza--brings in about £1 billion ($1.7 billion) in annual sales.

Glaxo quietly edges toward Ebola vaccine but clinical barriers remain

As Africa continues to experience the most severe Ebola outbreak in the disease's short history, the World Health Organization has deemed it ethical to offer unregistered interventions as potential treatments or preventive therapies, including investigational vaccines.

Health Canada signs off on GSK's plans to improve its flu vaccine plant

GlaxoSmithKline has submitted its plans to whip its troubled Quebec flu vaccine plant into shape to Health Canada, and the regulator says the action outline is up to snuff.

Researchers retract narcolepsy study linked to Glaxo's Pandemrix

Scientists thought they may have been on to something as far as deciphering the link between GlaxoSmithKline's pandemic swine flu vaccine and narcolepsy. But now, unable to replicate their findings, they've retracted the study.

Syria broadens corruption accusations against GlaxoSmithKline

Last month, a whistleblower sent a letter to GlaxoSmithKline alleging "multiple corrupt and illegal practices" in the company's Syrian consumer health operation before it was shut down in 2012. Now it appears the problems may have extended to GSK's prescription drug business in Syria, which is still in operation.

Glaxo: Ebola vaccine could be ready by 2015

British drugmaker GlaxoSmithKline says it is ready to begin clinical trials on an Ebola vaccine later this year and could have the vaccine available by 2015.

Can GlaxoSmithKline go from 0 to 150 on an Ebola vaccine program?

It took GlaxoSmithKline 30 years to get its new malaria vaccine ready for regulatory review. But global health officials--driven by a worldwide clamor--are excitedly pointing to GSK now as one of its prime candidates for getting a vaccine to fight Ebola in a matter of months.

FT sources: RBS' Hampton top contender to succeed Glaxo chair

A bribery scandal in China, with other probes ongoing in the Middle East and Europe. Mounting competition to declining top drug Advair. And so-far-lackluster launches of the products tabbed as future respiratory stars. So, who wants to be GlaxoSmithKline's next chairman?