LONDON (AP) — Drugmaker GlaxoSmithKline says it will halt some 30 clinical and pre-clinical programs as it reviews its research and development pipeline and focuses on improving efficiency.
London-based GSK says it will also undertake a strategic review of its Rare Diseases unit and "is now considering options for future ownership of these assets."
The company will eventually allocate 80 percent of capital to "priority assets" in respiratory and HIV/infectious diseases as well oncology and immuno-inflammation therapy areas.
Second quarter sales rose 3 percent to 7.3 billion pounds ($9.5 billion) at constant exchange rates. But higher costs led to a 180 million pound net loss.
New CEO Emma Walmsley says the company's priority is to maintain momentum and "prepare for the successful execution of several important near-term launches in Respiratory, Vaccines and HIV."