GlaxoSmithKline
NEWS
GlaxoSmithKline has been in the midst of a significant reshaping to focus on pharmaceuticals, particularly a renewed interest in oncology treatments. As a result, the company has made some cuts to its pipeline, including six quietly announced this morning in the company’s year-end report.
Merck KGaA, Darmstadt, Germany and GlaxoSmithKline forged an agreement to develop an immunotherapy for difficult to treat cancers that could be worth up to $4 billion. Following the announcement, a subsidiary of Merck KGaA announced plans to expand its Billerica, Mass. R&D facility.
Although bioterrorism doesn’t get the kind of attention more traditional bombings and shootings receive, the biotech industry and the federal government are paying attention and actively funding and developing countermeasures to potential bioterror, military and public health emergencies.
Recently, in the U.S., there has been a shortage of an anti-anxiety drug, buspirone. The American Society of Health-System Pharmacists (ASHP) lists shortages, and as of Jan. 31, 2019, noted shortages of buspirone tablets manufactured by Accord Healthcare, Mylan and Teva Pharmaceutical.
Shares of GlaxoSmithKline took a slight dip Wednesday afternoon after the U.S. Food and Drug Administration approved Mylan NV’s generic version of Advair Diskus, a staple blockbuster drug in the U.K. pharmaceutical company’s pipeline.
Since taking over the helm of GlaxoSmithKline in 2017, Chief Executive Officer Emma Walmsley has made some significant moves to redefine the company as one focused on the development of pharmaceuticals.
GlaxoSmithKline plc today announced that it has successfully completed the acquisition of TESARO, Inc. an oncology-focused company based in Waltham, Massachusetts, for an aggregate cash consideration of approximately $5.1 billion (£4.0 billion).
Hampton has served as chairman of the board since 2015. He decided to part ways with the company as it plans to separate into two entities.
Yesterday, shareholders filed for a class action lawsuit against Tesaro in Delaware federal court, alleging that the merger is based on misleading financial analyses filed with the U.S. Securities and Exchange Commission (SEC).
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