GlaxoSmithKline is casting about for a new CEO. Amid shareholder pressure for a breakup or shake-up or both, the company reportedly has asked its headhunting firm to put together a short list of candidates to replace current chief Andrew Witty.
If the United Kingdom votes to exit the European Union, AstraZeneca CEO Pascal Soriot, GlaxoSmithKline R&D; Chief Patrick Vallance and others predict it will cause disruption, expense and significant regulatory burdens, while also deterring inward investment.
That way madness lies. So said King Lear--and now, so says top U.K. investor Neil Woodford. Only in Shakespeare, it's Lear who's going crazy, and Woodford is certain that the madness falls squarely on GlaxoSmithKline CEO Andrew Witty and the company's board.
Merck, GlaxoSmithKline and public health officials in the United States have some big new numbers to tout to promote HPV vaccination. On Monday, a group of federal researchers said that since the introduction of Gardasil in 2006, HPV infection rates in teenage girls have fallen by nearly two-thirds.
Generics makers are finally taking aim at GlaxoSmithKline's hard-to-copy respiratory behemoth Advair, and Mylan refuses to be left behind.
CRO giant Parexel has teamed up with recently axed GlaxoSmithKline scientists to grow its business in genomic-based drug development.
GlaxoSmithKline plans to invest INR500 million ($73 million) in an upgrade of its manufacturing plant in Nashik northeast of the India financial capital Mumbai to build up output of thyroid and dermatology products, the Business Standard reports.
Waiting for the halcyon days when drugmakers could price drugs without pushback to return? Don't, GlaxoSmithKline U.S. pharma president Jack Bailey says. You'd be better off cutting costs instead. As Bailey recently told Bloomberg, those pricing-power days are over--and that means companies better start focusing on how to "do everything faster, better, cheaper."
GlaxoSmithKline has been quietly working on bioelectronic medicines for years--after having established an R&D; unit dedicated to it in 2012, which was followed by a $50 million venture fund in 2013, and then a $5 million innovation challenge in 2014. Although it hasn't disclosed much about the fruits of its efforts, it has done a new deal to add to them.
The U.K.'s Competition and Markets Authority was only formed in 2014, but it didn't mind reaching back more than a decade for evidence to slap GlaxoSmithKline with a $54.4 million (£37.6 million) fine. In its first pay-for-delay decision, it said the U.K. company thwarted generic competition to its antidepressant drug Seroxat by paying off a handful of generic players.