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    Stockholders Pressure GSK to Boost Spending

    Nov. 30, 2006
    CHI PharmaWeek just reported an item that appeared a few weeks ago in Therapeutics Daily.com.  Nice when shareholders encourage spending on innovation; it's usually the opposite...  Institutional investors are pressuring GlaxoSmithKline (GSK) to use the $44.8 billion worth of spare cash on its balance sheet to make acquisitions and to bolster its pipeline of new drugs.  Since Tadataka Yamada, GSK's former research and development chief, left earlier this year, several projects have faltered. Its highly anticipated cervical cancer vaccine Cervarix has been delayed by three months and Promacta, a treatment to help blood clotting, has been pushed back by a year. Redona, a diabetes treatment, was put on hold after producing poor clinical data, and an anti-sepsis drug was scrapped. GSK's share price has slumped 9% in the past six months.
    CHI PharmaWeek just reported an item that appeared a few weeks ago in Therapeutics Daily.com.  Nice when shareholders encourage spending on innovation; it's usually the opposite...  Institutional investors are pressuring GlaxoSmithKline (GSK) to use the $44.8 billion worth of spare cash on its balance sheet to make acquisitions and to bolster its pipeline of new drugs.  Since Tadataka Yamada, GSK's former research and development chief, left earlier this year, several projects have faltered. Its highly anticipated cervical cancer vaccine Cervarix has been delayed by three months and Promacta, a treatment to help blood clotting, has been pushed back by a year. Redona, a diabetes treatment, was put on hold after producing poor clinical data, and an anti-sepsis drug was scrapped.GSK's share price has slumped 9% in the past six months.
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