GSK heralds biotech drug development model

The Wall Street Journal explores GlaxoSmithKline's decision five years ago to let its front-line scientists pick drug development candidates. GSK had relied on a more bureaucratic approach to lead selection. Drug discovery groups were also broken into smaller units. And with the drug majors embarrassed by a paucity of new drug targets after spending record amounts on R&D, this kind of experimentation has become all the rage. The goal is to develop the kind of focus and flexibility of a small biotech company. GSK says it's working.

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PLUS: India's Ranbaxy is buying the generic drug business of Allen SpA, a division of GSK in Italy. Report