Creating Glaxo Wellcome
Glaxo took over Wellcome to boost profits at risk from the Zantac patent expiration. But its R&D managers used the tumult and pain caused by the deal to revitalize an organization which had grown complacent and was ill-equipped to exploit the new technologies which were industrializing drug discovery. Productivity is way up--with no increase in budget. But has Glaxo Wellcome really accomplished its mission or is a continuing series of cost-squeezing mergers still inevitable?
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Sanofi's attempt to take over Aventis reflects its own status as takeover material for other companies, particularly after it loses the protection of its current shareholder structure. But it is also convinced that its highly productive R&D organization can make much better use of Aventis' R&D expenditures than Aventis has done. Nonetheless, Sanofi, which has been limited in the past by its Franco-centrism, particularly in the key American market, must use the transaction to transform the company into a far more internationally managed and culturally diverse organization. Indeed, for all the European flavor of this deal, it portends an even greater Americanization of the drug business.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Coronavirus Notebook: EMA Issues Guidance On Development Of Variant Vaccines, EU Leaders Urge Production Ramp-Up
A batch of AstraZeneca/Oxford University coronavirus vaccines has arrived in Ghana, the first country in the world to receive vaccines via the COVAX Facility.