GlaxoSmithKline is to sell soft drink brands Lucozade and Ribena in a move analysts believe will raise over 1 billion pounds ($1.5 billion) and focus its consumer health business on global products.
The plan was announced on Wednesday alongside first-quarter results that saw sales at Britain's biggest drugmaker drop a slightly smaller-than-expected 3% from a year ago.
Britain's competition body accused GlaxoSmithKline of market abuse for striking deals with three generic drugmakers that paid them to delay launching cheap copies of its antidepressant Seroxat.
GSK, Britain's biggest drugmaker, said it believed it had acted lawfully. If it is found to have broken the law, it could be fined up to 10% of its worldwide turnover, which amounted to 26.4 billion pounds ($40.4 billion) in 2012.
The Rise Of Generics - In 2011, CMS Pharma was invited to take part in a conference in Mumbai to discuss the emergence of "supergenerics," a new form of generic drugs with improved properties such as safety, efficacy, stability or improved commercial attractiveness such as taste or route of administration. Those drugs are most often based on an incremental reformulation of a generic API (active pharmaceutical ingredient) or the combination of multiple generic APIs.
GlaxoSmithKline, Britain's biggest drugmaker, is placing a small but important bet on a new way of treating diseases by targeting electrical signals in the body.
The company said on Wednesday it would offer a $1 million prize to stimulate innovation in the field, as well as funding up to 40 researchers working in external laboratories.
Shares of Optimer Pharmaceuticals rose as much as 24% after a Bloomberg report said GlaxoSmithKline and Cubist Pharmaceuticals were among those interested in buying the antibiotic maker.
Optimer, the maker of diarrhea drug Dificid, aims to get as much as $1 billion in a possible auction, the report said, quoting two unnamed sources.
Drugmakers - led by GlaxoSmithKline and Johnson & Johnson - are stepping up efforts to ensure their medicines are available and affordable in poor countries, after being attacked in the past for not doing enough.
The Access to Medicines Index, which tracks the actions of the top 20 drugmakers, showed on Wednesday there had been an improvement across the board in the past two years, reflecting both commercial self-interest and a concern for reputation.
GlaxoSmithKline plans to buy up to an additional 31.8% stake in its Indian consumer products arm for about $940 million, as Britain's biggest drugmaker deepens its emerging markets and non-prescription consumer health footprint.
The move is the latest in a series of deals by GSK to increase its presence in f ast-growing economies a nd reduce its reliance on traditional pharmaceuticals in Western co untries where sales are slower.
GlaxoSmithKline has raised its bet on a promising drug for HIV/AIDS by redrawing a deal with Japan's Shionogi, giving it a much bigger economic interest in the new product.
Dolutegravir, a once-daily drug that has performed strongly in clinical trials, is seen by analysts as a potential multibillion-dollar-a-year seller and a strong competitor to treatments from market leader Gilead Sciences.
A Pill a Day - Unlike chemicals, the pharmaceuticals sector does not have cycles. Even in a sluggish economy, sick people will still need medicine. But the widening European debt and currency crisis seems to prove that a sick economy can indeed infect an otherwise healthy industry. Drug makers traditionally spoiled by success are now facing unprecedented hurdles as governments rein in healthcare spending and many of the region's southern countries cannot pay at all.
Hovione announced the appointment of Dr. Mike Ironside as General Manager, TTC in New Jersey. Dr.