With sales of its flagship product Advair slipping as its new respiratory drugs fail to gain rapid traction, Big Pharma player GlaxoSmithKline is prepping some deep cuts in its U.S. operations, according to several reports over the holiday weekend.
GlaxoSmithKline is making big cost cuts to boost its finances next year as sales of its $8.25 billion asthma med Advair are deflated by competition, generic and otherwise. Reports are that hundreds of jobs are on the line in the U.S. and the culling will be announced this week.
Glaxo shareholders will soon have the chance to weigh in on an asset swap between GlaxoSmithKline and Novartis worth more than $20 billion.
Proponents of DNA printing have heralded it as a way to do everything from bringing alien life back from Mars to delivering vaccines in the event of a pandemic. And the technology has attracted GlaxoSmithKline and Roche, both of which have taken an interest in Cambrian Genomics.
In Canada, which has no reported cases of Ebola, people are lining up to get in on a clinical trial for an Ebola vaccine.
Big Pharma earned gold stars in 2014, as the industry's top drugmakers did more to get their meds to patients in the world's poorest countries. But despite recent progress, companies still have room to grow in R&D and distribution, the Index notes.
Clovis Oncology has signed a deal to test whether its lead drug can make a difference in lung cancer when paired with GlaxoSmithKline's melanoma treatment Mekinist.
GlaxoSmithKline and Medidata have moved mHealth tools one step closer to the clinical trial mainstream. Having run a pilot project, the partners have concluded that mHealth technologies can deliver reliable, FDA-compliant data and improve the clinical trial experience for patients.
GlaxoSmithKline has long explored a sale of some $3 billion worth of its older drugs, planning to shed products by geographic region to meet buyers' interests. Now, the company could have a more enticing offer on its hands as private equity firm Apollo Global Management is planning to bid GSK's entire portfolio of drugs, rather than snatch up businesses by region, people familiar with the process told Reuters.
Ever since Dendreon's lackluster Provenge launch, the Washington-based biotech's failures have cast a pall over the troubled cancer vaccine field. And the company's bankruptcy won't help with that.