COVID-19 vaccine makers are shifting gears and planning for a smaller, more competitive booster shot market after delivering as many doses as fast as they could over the last 18 months.
Although 2020 was a tough year for the biopharma industry — and most other industries as well — it appeared to rebound significantly in mid-2021. However, biotech stocks are generally getting hammered during 2022, although to be fair, the entire stock market is down.
GlaxoSmithKline exceeded expectations for the company’s first-quarter 2022 sales and earnings forecasts. This was largely driven by GSK’s sales of Xevudy, an antibody treatment against COVID-19 it developed with Vir Biotechnology, and the company’s Shingrix vaccine against shingles.
British employees of pharma giant GlaxoSmithKline voted to strike against the company’s recent pay raise. Hundreds of GSK workers backed by British labor union Unite demanded a higher raise, citing major inflation rates and the company’s recent financial successes.
CureVac and GSK’s second-generation vaccine candidate targeting two recent COVID-19 variants has been shown to be highly effective in preclinical studies on mice, CureVac said, as the biotech firm seeks to catch up with rivals’ development work.
GlaxoSmithKline is acquiring California biopharmaceutical firm Sierra Oncology for $1.9 billion in a deal expected to help both companies take a major step in developing a treatment for rare types of cancer.
The Precision Cancer Consortium (PCC) announced its formation as a new collaboration of pharmaceutical companies with a shared vision of enabling access to comprehensive testing for all cancer patients globally.
GlaxoSmithKline said on April 6 the company’s consumer arm stopped shipments of supplements and vitamins to Russia as a result of Moscow’s invasion of Ukraine and would prioritize the supply of over-the-counter medicines for basic needs.
The U.S. health regulator said on April 5 GlaxoSmithKline and Vir Biotechnology’s antibody therapy was no longer authorized as a COVID-19 treatment, with data suggesting it was unlikely to be effective against the dominant Omicron sub-variant in the country.
The U.S. health regulator said on March 25 the current authorized dose of GlaxoSmithKline and Vir Biotechnology’s COVID-19 antibody therapy is unlikely to be effective against the Omicron BA.2 variant.