BUSINESS

Glaxo plans up to 20 new drug applications in near term

Staff Writer
Columbus CEO

GlaxoSmithKline says it could seek regulatory approval for up to 20 new medicines before 2020 and some could hit the market by then.

The British drugmaker also says it could start late-stage patient testing in the next two years on about 20 new drugs or new uses for existing ones in the next two years. And it could start mid- stage patient testing on about 30 others. About one-third were discovered by researcher teams inside the company, the world's sixth-biggest drugmaker by revenue.

GlaxoSmithKline executives are presenting an update on progress in developing new medicines and vaccines.

They're needed because the company's longtime mainstay, asthma inhaler Advair, is bringing in less money due to pressure from payer to cut prices. Generic competition also looms, putting pressure on CEO Andrew Witty.