R&D budget: $5.59B (€4.08B)
Change over 08: +9.5%
Income spent on R&D: 12.8%
GlaxoSmithKline ($GSK) started off 2009 looking for about 850 people it could chop out of R&D in the U.S. and the U.K., most in preclinical and early-stage development work. And it was R&D that GSK turned to when it needed to find much of the $1.4 billion it was determined to trim out of its budget.
Of all the Big Pharma companies, GSK has talked the most about getting an R&D brain transplant from the biotech world, which it holds dear as a lean-and-mean research model pharma needs to follow. Some GSK research teams have even ordered up their own gear emblazoned with their group titles and logos to help underscore the new, small-is-better mindset. And GSK has made major changes in its R&D structure, spinning out a major facility in Verona, Italy as it phases out some elements of neuroscience and adds new focuses on areas like rare diseases.
Some of GSK's cast offs are getting a second life as full-fledged biotechs in their own right. One group of 14 left with company IP on new pain therapies and created Convergence, helping to highlight a new generation of Big Pharma spinouts.