GSK's CEO Emma Walmsley, who took over in April, says she wants to narrow the focus of the company's drug research by stopping more than 30 drug projects to improve profits in its core pharma business.
According to a Reuters article, Walmsley said GSK would in the future allocate 80 percent of its R&D budget to respiratory and HIV/infectious diseases, as well as two other potential areas of oncology and immuno-inflammation.
More than 30 clinical/pre-clinical programs will be stopped or divested, and the company is investigating options for its rare diseases unit. It also plans to stop selling the diabetes drug Tanzeum and end a collaboration with J&J on the experimental rheumatoid arthritis drug sirukumab, as well as divesting about 130 low-selling drugs.
Read the full story