One CEO comes out and states how biotech will be the new focus for Glaxo, as in a related story whereby patients will require genetic testing for their AIDS drug, Ziagen. In the future I’m sure there will be more about big pharma and their biotech strategies as personalized medicine continues to grow. BD
With profits sliding, GlaxoSmithKline CEO Andrew Witty used much of his second quarter review for analysts to amplify plans to radically alter its R&D work, abandoning its old focus on blockbusters in favor of more targeted drugs that earn more modest incomes. Glaxo is shifting more to a biotech approach, creating small units of up to 80 scientists to pursue development programs. Those groups will then apply for research funds from a central investment board.