August 23, 2015 |
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.
May 8, 2015 |
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.
April 4, 2015 |
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.
December 4, 2014 |
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.
August 30, 2014 |
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.
July 16, 2014 |
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.
May 2, 2014 |
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.
November 13, 2013 |
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.
October 25, 2013 |
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.
September 12, 2013 |
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.