Glaxosmithkline was formed from a merger in 2000 but the pharmaceutical giant’s origins were in the 18th centuryCompetition in the American respiratory market weakened sales of Glaxosmithkline’s blockbuster inhaler, offsetting strong uptake of its new products. Glaxo said that sales of its Advair asthma product, which is also poised to face generic competition, was going to decline more than expected this year amid pricing pressure in America, a key market, in the first quarter of the year. Britain’s biggest drugs company has been striving to combat the impending threat from copies of its best-selling product by bringing new drugs to the market. It has launched three major products, a three-in-one inhaler, an HIV treatment and a shingles vaccine. Glaxo is one of the UK’s largest companies with a stock market value of £72 billion.

Source: The Times April 25, 2018 22:52 UTC