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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India competition body cracks down on GSK, Sanofi

Citing an anticompetitive agreement that was "clearly made out," India's Competition Commission took issue with GlaxoSmithKline and Sanofi's operations in the country this week and fined the international pharma nearly $10 million.

GSK-linked private eye released early from Chinese prison

Last summer, Chinese prosecutors sentenced Peter Humphrey--a private eye linked to GlaxoSmithKline's 2013 bribery scandal--to 2.5 years in prison. But now, after serving about two years, he's been released.

GSK's Advair dogged again as Mylan launches first bioequivalent copy in U.K.

GlaxoSmithKline is already struggling with sales of aging respiratory superstar Advair, and Mylan just made its job more difficult.

GSK, Sanofi hauled up by India's competition watchdog on vaccine tenders

India's competition watchdog said that government vaccine procurement rules favored multinational drugmakers Sanofi and GlaxoSmithKline and the companies colluded in pricing, according to the Economic Times, charges that both companies denied in response to queries from FiercePharmaAsia.

Fresh off Novartis consumer deal, GSK slices off 350 workers to hit cost-squeezing targets

Now that it's teamed up with Novartis' consumer health unit to form an industry-leading joint venture, GlaxoSmithKline's OTC business is bigger than ever. But its payroll is about to get smaller, with 350 layoffs hitting the operation.

Takeda consolidates in U.S. amid sharp global vaccine competition

A move by Takeda Pharmaceutical to consolidate its Vaccine Business Unit into hubs should allow sharper focus on a complex set of vaccine programs covering norovirus, dengue and seasonal influenza in an increasingly competitive global horse race.

GSK's Flonase zooms to top of allergy category after DTC push

GlaxoSmithKline's big advertising push on over-the-counter Flonase appears to be working.

Mylan deal target Perrigo bags GSK, Novartis consumer meds

Lately, Perrigo's shown it would rather be the acquirer than the acquired--and it continued down that path Tuesday.

Investors warm up to the idea of Pfizer snapping up GSK

Some analysts may be pooh-poohing a Pfizer buyout of GlaxoSmithKline, but some investors are hip to the idea.

Betting on Pfizer merger--or CEO goodbye--traders go bullish on Glaxo

Some analysts may be pooh-poohing a Pfizer buyout of GlaxoSmithKline, but some investors are hip to the idea. As Bloomberg reports, options traders are paying record prices for bullish GSK options--and this after the British drugmaker lost $11 billion off its market cap in less than three months.