Keywords: GlaxoSmithKline, 2009 financial results, R&D refocus, Emerging markets,
GlaxoSmithKline to refocus some research and seek efficiencies, despite posting huge 4th-qtr 2009 profits rise; applause from Science Minister
Article | 5 February 2010
Although not confirming recent speculation of 3,000 or so job cuts, UK headquartered drugs giant GlaxoSmithKline revealed that it plans to cut more costs, aiming for savings of some £500 million ($802 million; R&D 50%; SG&A 50%) by 2012, and abandon some areas of research - including depression and pain, instead focussing on neurodegenerative and neuroinflammatory diseases such as Alzheimer's, multiple sclerosis and Parkinson's disease - in order to improve R&D productivity.
T Enjoying this article? To continue reading you need to login, take a FREE trial or subscribe.
FREE unlimited, no obligation access to The Pharma Letter website for 30 days, normally worth £60!
Sign up in less than 60 seconds...no payment needed
Want to read the full article?
Take a 30 day FREE Trial worth £60
Take a no obligations 30 day trial.
Only one trial per user. Find out more details
Subscribe now
for unlimited access to all articles
Subscriptions are £60 per month, pay as you go.
Find out more details.
Already a subscriber? Click here to log in
- Ono Pharma buys Japanese rights to two cancer drugs in $340 million deal with Onyx
- GlaxoSmithKline sells Croatian research center to Galapagos, names new CFO and enters supply deal with Lonza; EMEA update on Avandia and Pandemrix
- Wyeth/Pfizer accused of using ghostwritten articles to overstate benefits of HRT
- China’s liver cancer drug market forecast to nearly triple to $144 million in 2014
- International sales rep quality survey views BRIC markets
