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.
February 6, 2015 |
Gov. Christie and other likely Republican presidential candidates have struggled with consistency in their public positions regarding the value of vaccines, but GlaxoSmithKline chief executive officer Andrew Witty has no such conflicts. "Generally, vaccines go through enormous amounts of testing on safety and efficacy," Witty said Wednesday from London in a conference call with reporters after GSK reported financial results for the fourth quarter and all of 2014. "Clearly, vaccines are a remarkable potential source of human health care.
December 5, 2014 |
The drugmaker GlaxoSmithKline said Wednesday that it would cut hundreds of jobs in the United States, with the Philadelphia region gaining and losing positions, as it begins a three-year process of eliminating $1.57 billion in annual expenses. London-based GSK will significantly reduce its research and development operation in North Carolina's Research Triangle Park, moving some of those positions and people to facilities in Upper Merion and Upper Providence, Montgomery County. However, some Philadelphia-area employees in commercial divisions will be laid off, with departures starting early in 2015.
December 3, 2014 |
The $1.57 billion in annual cost cuts that drugmaker GlaxoSmithKline announced in October will take a more definite shape, possibly as soon as Wednesday, with Philadelphia-area employees among those at risk of losing their jobs. Like other major pharmaceutical companies, GSK is still trying to adapt a decades-old business model to new realities in the complex health-care marketplace without forsaking the profits that investors of all sizes still expect. "The aim of this program is to improve performance by taking unnecessary complexity out of our operations and establish a smaller, more focused, organization, operating at lower costs, that supports our future portfolio," GSK spokeswoman Mary Anne Rhyne said in a statement.
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.
April 24, 2014 |
In a multibillion-dollar deal, drugmakers GlaxoSmithKline and Novartis said Tuesday that they would trade parts of their companies and form a joint venture with a third part. GSK, based in London and with several facilities in the Philadelphia region, will sell its current cancer drugs to Swiss-based Novartis for $16 billion. Novartis will sell all but one of its vaccines to GSK for about $7.1 billion. The companies formed a joint venture to sell over-the-counter medicine, with GSK taking a 63.5 percent stake.
December 23, 2013 |
What if . . . The tiniest electrical device, wrapped around a nerve, could signal the cells lining your stomach that it is full, thereby quashing your desire to eat everything on the left side of the refrigerator? Or tell the dormant pancreas of a diabetic to resume making insulin? Or tell the muscles around a senior's bladder to contract like they used to so nothing leaks? Or tell the fibers in the lungs of an asthmatic child to relax so breathing is easy? Those types of questions were thrown about last week in New York, where drugmaker GlaxoSmithKline gathered 150 or so scientists from many disciplines, some not commonly associated with medicine, to devise a challenge worthy of a $1 million prize: "Create an implantable wireless device that can record, stimulate, and block neural signals to a single organ.
December 19, 2013 |
GlaxoSmithKline said Tuesday that it would stop paying doctors to give speeches and attend continuing medical education events, while also eliminating individual targets in determining pay for sales representatives. The drugmaker - based in London but with facilities at Philadelphia's Navy Yard and elsewhere in the region - is ahead of most of its competitors in those matters. GSK and the pharmaceutical industry have been under pressure in myriad ways to change business practices their critics see as unethical.
July 26, 2013 |
GlaxoSmithKline chief executive officer Andrew Witty said Wednesday that he and other top leaders at company headquarters in London were unaware of the activity of GSK executives in China accused of using travel agencies to pay off doctors and other health-care providers to increase drug sales. "To see these allegations about people working for GSK is, as we've said, shameful," Witty said in a conference call with reporters, his first public comment since the scandal broke. "For me, personally, they are deeply disappointing," he said.