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 private eyes' son allowed first visit to parents in China jail as trial nears

On Friday, 19-year-old Harvey Humphrey visited his parents, the husband-and-wife team of private detectives who did investigative work for GlaxoSmithKline's disgraced China office, for the first time since they were detained by Chinese police last summer. The family saga painfully illustrates the potential pitfalls of doing business in China.

Private equity weighs $10B-plus combo of aging Sanofi, GlaxoSmithKline brands

GlaxoSmithKline and Sanofi could both unload their on-the-block products in one fell swoop. As the  Financial Times  reports, a handful of private equity firms are considering a buyout of both Big Pharma portfolios, planning to merge the two into one bigger set.

Kenya study reveals new malaria vaccine targets

Although GlaxoSmithKline has submitted its malaria vaccine to the European Medicines Agency for approval, the jab hasn't shown as much promise as hoped, underscoring the need for a better understanding of the malaria parasite and how it affects the human immune system.

China sets trial date for GSK-tied investigators, says it will be 'open'

China will try two private investigators tied to GlaxoSmithKline's operations there in just over a week on charges of illegally purchasing personal information about Chinese nationals, a Chinese court said. And according to state news agency Xinhua, all are welcome to attend.

Don't get too excited, investors: GSK has no near-term plans for consumer health spinoff

Let GlaxoSmithKline be clear: It's open to spinning off its consumer healthcare division at some nebulous point in the future. But it's not happening anytime soon.

Why are Anoro and Breo slow starters? GSK's new quota-free model, critics say

GlaxoSmithKline needs its respiratory blockbuster hopefuls Breo and Anoro to fill in where aging giant Advair is dropping off. Thing is, their launches aren't going as well as expected--and some analysts are pointing fingers at GSK's new quota-free sales model as the reason why.

GlaxoSmithKline CEO: Open to spinning off consumer health biz

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.

Still reeling from China bribery probe, GSK faces corruption scandal in Syria

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.

Fluviral, FluLaval Tetra production on hold at Glaxo's troubled Quebec plant

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.

GSK submits world's first malaria vaccine for EMA approval

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.