More COVID-19 Headwinds In 2021 For GlaxoSmithKline
Company Sacrificing Profits To Invest In R&D
The UK-headquartered company is in transition, investing heavily in biopharma R&D and preparing to spin out its consumer division.
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The agreement focuses on respiratory viruses, especially influenza, and includes a $225m upfront payment plus an increase in GSK’s equity investment in Vir.
After major setbacks to its existing COVID-19 vaccine platform, GSK is expanding its presence in mRNA, which increasingly looks to be the future.
The European Commission’s approval of GlaxoSmithKline’s Blenrep is one of the first major fruits of a refocused pipeline and development strategy at the big pharma company.