GSK eyes life after a patent cliff
This article was originally published in The Tan Sheet
Executive Summary
GlaxoSmithKline is shifting "from being a blockbuster-dependent" company that relies on a single patented drug for a bulk of its revenue to a "blockbuster-ready" firm with a well-diversified portfolio that provides protection if the next big drug comes too late to offset generic competition for the current top-seller, CEO Andrew Witty says. At Cowen & Co.'s Health Care Conference March 17 in Boston, Witty said GSK is seeking diversity rather than the next blockbuster drug to "diminish the possibility of simply going back to another patent cliff," like the one it fell off last year when it lost exclusivity for several prescription drugs. GSK will invest in multiple small prescription drugs and seeks bolt-on acquisitions of vaccines and brands in "the consumer emerging market" to reduce the impact of any one patent expiry, Witty said (1"The Tan Sheet" Feb. 9, 2009, p. 9)
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