FEATURED ARTICLES
NEWS
July 14, 2008 | INQUIRER STAFF
GlaxoSmithKline and Actelion Ltd announced today that they will collaborate on Actelion's treatment for sleep disorders. The collaboration has Glaxo paying Actelion $147 million, with a potential commitment of $3.3 billion. The Swiss drugmaker's almorexant is in Phase III development. Glaxo, has U.S. headquarters in Philadelphia and North Carolina. Actelion has an office in San Francisco and a clinical research site in Cherry Hill. Under the terms of the agreement, GSK will receive exclusive worldwide rights to co-develop and co-commercialize almorexant, Glaxo said in a news release.
NEWS
September 13, 2011
GlaxoSmithKline said Tuesday that it would donate $1 million worth of cervical cancer vaccine to a new partnership launched by former president George W. Bush and aimed at reducing deaths from women's cancers. GSK makes Cervarix, says it also will provide $50,000 to support the program operations and that more than 10,000 girls and women will have access to vaccination. The Pink Ribbon Red Ribbon partnership is a new initiative led by the George W. Bush Institute, the President's Emergency Plan for AIDS Relief, Susan G. Komen for the Cure and the Joint United Nations Program on HIV/AIDS.
BUSINESS
February 8, 2013 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline reported lower fourth-quarter profits Wednesday and said it would consider selling off two soft-drink brands popular in the United Kingdom, but chief executive officer Andrew Witty said he was "thrilled" with the early feedback received from Philadelphia employees moving from near Logan Square to a new facility at the Navy Yard. "Even some of the diehard skeptics are impressed with how things are going," Witty said during a news conference in London to discuss 2012 full-year and fourth-quarter results.
BUSINESS
March 26, 1991 | By Donna Shaw, Inquirer Staff Writer
A Newtown Square woman who pleaded guilty in January to charges of trying to sell SmithKline Beecham marketing secrets to a competitor has been sentenced to three years' probation and four months in a community treatment center. In sentencing Rebecca J. Lindquester on two fraud counts, U.S. District Judge Jan E. DuBois said it was the first time he ever had agreed to accept a "diminished-capacity" defense. The judge said he found that Lindquester "was and remains acutely psychologically disturbed.
BUSINESS
May 19, 2012 | By David Sell, INQUIRER STAFF WRITER
Human Genome Sciences Inc. filed a plan with regulators Thursday to try to block GlaxoSmithKline P.L.C.'s $2.6 billion takeover offer for the Maryland-based pharmaceutical company. The shareholder-rights plan — a corporate tactic often called a poison pill because it discourages takeover attempts — was part of several filings with the Securities and Exchange Commission. It would allow current shareholders to buy stock at a discounted price if anyone acquired more than 15 percent of the stock.
BUSINESS
November 4, 2011 | By David Sell, Inquirer Staff Writer
In perhaps the largest penalty ever paid by a pharmaceutical company, GlaxoSmithKline said Thursday it had reached a tentative deal with the U.S. Justice Department to pay $3 billion to settle criminal and civil allegations of illegal marketing practices and pricing under a Medicaid program. Glaxo said the deal would be made final in 2012, but it was unclear why it was announced now. A spokeswoman declined to say whether Glaxo would have to live by a corporate integrity agreement, which the government sometimes requires in such cases.
BUSINESS
November 1, 2012 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline chief executive officer Andrew Witty said Wednesday that the pharmaceutical company's personnel and facilities were not harmed when Sandy hit the East Coast. "We have not had any injuries, or worse, in terms of personnel, and that is the most important thing," Witty said in a conference call with reporters pegged to the release of third-quarter earnings. "We've had business disruptions. But our facilities are fine. We have a new facility going up in Philadelphia, which is also fine.
NEWS
June 15, 2011 | By Dan Hardy, Inquirer Staff Writer
In what may be the largest property-tax dispute in the region, Montgomery County's Spring-Ford and Upper Merion School Districts stand to lose millions of dollars a year in tax payments from the pharmaceutical giant GlaxoSmithKline. The districts anticipate that between $2 million and $3.5 million a year in Glaxo tax payments will disappear when the cases are concluded. They also are expecting the wallop of having to pay Glaxo tax refunds that so far add up to between $5.7 million and $10.3 million.
NEWS
October 27, 2011 | By Dan Hardy, Inquirer Staff Writer
Montgomery County's Spring-Ford Area School District will have to pay pharmaceutical giant GlaxoSmithKline $6.5 million in tax reimbursements over the next three years under an agreement on a nearly four-year-old reassessment case brought by Glaxo. The Upper Merion Area School District has also reached a tentative agreement in a similar tax dispute with Glaxo. The terms of that settlement are not yet public, district business manager Steve Skrocki said; they are scheduled to be presented to the school board on Nov. 7. A court hearing on the Spring-Ford case was scheduled for early October; the two sides reached an agreement just before arguments were to start.
NEWS
July 21, 2010 | By Robert Barr, ASSOCIATED PRESS
LONDON - GlaxoSmithKline, the world's second-largest pharmaceutical company by revenue, on Wednesday reported a loss of 304 million pounds ($464 million) for the second quarter as the company absorbed a hit of 1.57 billion pounds ($2.4 billion) for settling lawsuits. The loss for the three months ending June 30 compares with profit of 1.34 billion pounds in the first quarter. Revenue of 7.025 billion pounds was 4 percent higher than a year earlier for the British company, which has major operations in the Philadelphia area.
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ARTICLES BY DATE
BUSINESS
August 23, 2015 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline plc and Novartis AG said Friday that they had struck a deal for Novartis to pay GSK at least $300 million, and perhaps more than $1 billion, for the remaining rights to the drug ofatumumab. The drug already is approved for use in treating some cancers and is sold by Novartis under the name Arzerra. Novartis now will have the rights for any use of ofatumumab approved by regulators, most importantly multiple sclerosis. GSK gets $300 million when the deal is closed, $200 million if Novartis starts a phase III clinical study of ofatumumab in relapsing remitting multiple sclerosis, and contingent payments of up to $534 million if other development milestones are achieved.
BUSINESS
May 8, 2015 | By David Sell, Inquirer Staff Writer
Drugmaker GlaxoSmithKline, which employs thousands in the Philadelphia region, will zig while the rest of Big Pharma zags, chief executive officer Andrew Witty said Wednesday from London, laying out his plans after striking a multibillion-dollar deal with Novartis. Most big pharmaceutical firms, Witty said, are narrowing their focus toward high-priced drugs, and pushing patients, insurers, and governments in rich countries to pay those high prices, doubling down on the old business model and ignoring resistance to high-cost drugs.
BUSINESS
April 4, 2015 | By David Sell, Inquirer Staff Writer
Drugmaker GlaxoSmithKline said Thursday that it would establish a new hub for vaccine research and development in the Washington suburb of Rockville, Md., a move that will directly affect about 150 employees at the company's King of Prussia facility. Establishing the Maryland hub, GSK said in a statement, "will consolidate vaccines R&D activities currently conducted at other GSK sites including in Philadelphia and Cambridge, Mass., into one centralized location. Key late-stage development programs, as well as vaccine discovery and new platform technology development, will be led from Rockville.
BUSINESS
December 4, 2014 | By David Sell, Inquirer Staff Writer
Selling medicine - versus, say, televisions or toasters - for profit has inherent conflicts, and those challenges played out in several places Tuesday with drugmaker GlaxoSmithKline. In the morning at the Navy Yard, company officials handed out $40,000 to each of nine Philadelphia-area nonprofit organizations. In the afternoon, President Obama visited the National Institutes of Health in Bethesda, Md., where scientists are working on the first Ebola vaccine to be tested on humans, an effort involving tax dollars and hundreds of GSK employees in this region.
BUSINESS
August 30, 2014 | By David Sell, Inquirer Staff Writer
With the Ebola epidemic growing in West Africa, drugmaker GlaxoSmithKline and the National Institutes of Health said Thursday that they would begin next week the first human trials of a potential vaccine that might help prevent the spread of the virus, which has killed more than 1,500 people. Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases, a division of NIH, said the epidemic was now "uncontrolled" and requires an "all-hands-on-deck" response.
BUSINESS
July 16, 2014 | By David Sell, Inquirer Staff Writer
Shifting needs of players in the pharmaceutical industry came together Monday afternoon when GlaxoSmithKline P.L.C. announced a licensing deal with California-based Codexis Inc., which produces enzymes and a related process that allows drugmakers to manufacture medicines less expensively and in a more environmentally friendly manner. London-based GSK, which has operations in and around Philadelphia, will pay Codexis $6 million up front and $19 million more after the technology is successfully transferred.
BUSINESS
May 2, 2014 | By David Sell, Inquirer Staff Writer
Amid the recent swirl of pharmaceutical company takeovers and trades, GlaxoSmithKline chief executive officer Andrew Witty said Wednesday that GSK might end up with more Philadelphia-area employees if a deal with Novartis is completed. Witty said the business units joining GSK have about 10,000 people and the units going to Novartis have about 2,000 people. "On day one, there is a significant net influx of people to GSK, and therefore in most of our geographies - and the Delaware Valley, I suspect, will be no exception - there might be net benefit," Witty said during a conference call with reporters after the company released first-quarter financial results.
BUSINESS
November 13, 2013 | By David Sell, Inquirer Staff Writer
Simon Cowell was not involved in GlaxoSmithKline P.L.C.'s inaugural "Discovery Fast Track" competition pitting academic drug hunters against one another in a contest that was something of a talent show. There were no silly or sappy or snarky celebrities, at least of the TV-show kind. But there were Albert Einstein bobblehead dolls. Glaxo is searching for better ways to discover and develop drugs so its pipeline produces more effective and profitable medicine. The London company ran this contest, and will search for drug candidates through its facility in Upper Providence, Montgomery County.
BUSINESS
October 25, 2013 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline P.L.C. is the latest large company to save money now and in years to come by shifting medical costs for future retirees from its company-sponsored plan to insurance policies purchased individually on health-care exchanges. The London-based drugmaker with about 5,000 employees in Pennsylvania and New Jersey said Wednesday that it saved about $431.8 million for the third quarter of this year because of changes it explained to employees in September related to postretirement medical obligations.
BUSINESS
September 12, 2013 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline P.L.C.'s top-selling drug by far is the asthma medication Advair, which accounts for about 20 percent of company revenue, but generic competition got a bit closer to reality this week. Advair is delivered to patients through an inhaler. Besides any existing patents, brand-name drug companies like Glaxo have hoped that the combination of a drug and a device would delay Food and Drug Administration issuance of guidelines for generic manufacturers who hope to make equivalent products.
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