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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Sex, bribes and videotape: Clandestine video of GSK exec adds to China scandal

Last year, as the GlaxoSmithKline bribery probe was heating up, a British P.I. and his wife appeared on Chinese television, wearing handcuffs and prison orange. Word was, their sleuthing firm, ChinaWhys, had been working for pharma companies. Their alleged crime: collecting private information on Chinese citizens.

The top 5 vaccines by 2020

Take a look and at the specifics and check out how the 2020 forecasts stack up to the top 10 best-selling vaccines of 2013.

J&J, GSK meds join Sovaldi, Tecfidera in blockbuster-to-be crowd

New drug approvals may have dropped from 2012's high of 43 to 35 last year. But that doesn't mean 2013's crop lacks superstars.

GSK expects to meet flu vaccine demand but even short interruptions can be costly

GlaxoSmithKline, responding to an FDA warning letter sent to the plant that produces its FluLaval and other influenza vaccines for the U.S. and Canada, said it expects to be on track to produce more than 30 million doses for the upcoming flu season. But the experience of other drugmakers suggests that even a small hiccup in producing a vaccine for a crucial cycle can be significant to a drugmaker's top and bottom lines.

Cepheid partners with AstraZeneca, Glaxo on drug-resistant infections

Molecular diagnostics company Cepheid is partnering with pharma giants AstraZeneca, Cubist Pharmaceuticals and GlaxoSmithKline to develop a rapid diagnostic test that can target multi-drug resistant pathogens to help doctors appropriately prescribe antibiotics.

FDA slaps Glaxo with warning letter for FluLaval plant

After an inspection from March 31 to April 9 of this year, the FDA didn't much like what it saw at GlaxoSmithKline's Ste-Foy plant in Quebec, home of the company's FluLaval influenza vaccines. Now, the agency has issued a warning, pointing its finger at the British drugmaker for not doing its part to avoid contamination.

Analyst: GlaxoSmithKline's Tykerb dead in the water after breast cancer failure

GlaxoSmithKline's cancer treatment Tykerb took a blow last month when it failed a major late-stage trial in breast cancer. Now, at least one analyst figures the drug is crippled by that data--and that marketing it for breast cancer would be a waste of money.

GSK spinout Convergence ponders IPO leap as new wave of offerings crests

GlaxoSmithKline spinout Convergence Pharmaceuticals reported some positive results for a Phase II study of its pain drug today, setting up a Phase III launch early next year as the biotech ponders a possible IPO in either the U.S. or the U.K. after some pioneers finally managed to break into the British exchange.

Pharma execs weigh leaving China in wake of widening corruption crackdown

China's yearlong crackdown on allegedly corrupt practices by pharmaceutical companies has left foreign executives there spooked--so much so that some are asking their lawyers if they should leave the country altogether.

J&J and Glaxo's ViiV venture join up on combo HIV pill

Johnson & Johnson has signed a deal with ViiV Healthcare, the HIV-focused venture majority-owned by GlaxoSmithKline, to spin their two antivirals into a single tablet.