GSK CEO Walmsley is reorganizing R&D, dropping drugs and adding a new focus on cancer research
Just days after rushing Dana-Farber chief Laurie Glimcher onto the board at GlaxoSmithKline $GSK, new CEO Emma Walmsley is making her move to reorganize the pipeline. Her plan calls for a major R&D cull, dropping 30 development projects and adding cancer and immuno-inflammatory diseases to its list of top R&D priorities — which will consume the lion’s share of its budget.
In a statement out early Wednesday, GSK outlined plans to partner out or simply drop 30 preclinical and clinical programs, streamlining R&D and other operations in the global operation as the company looks for about $1.3 billion in savings by 2020. Rare disease drugs in particular appear to be on the chopping block while a list of assets that are being dropped from the pipeline includes sirukumab, its disappointing rheumatoid arthritis drug now under regulatory review and partnered with J&J $JNJ.
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