GlaxoSmithKline will be very picky about new deals

GlaxoSmithKline ($GSK) is taking a back seat at the industry's deal table. CEO Andrew Witty tells Reuters' Ben Hirschler that the company's M&A team has stepped away from doing many new deals right now as the company focuses more on its late-stage pipeline. "Our energy around acquisitions and our machine around acquisition is the lowest it has ever been in the history of the company," says Witty. A few new deals may be executed, he added, to fill a few gaps on technology--like the recent Okairos buyout. For now, though, the pharma giant is more interested in selling noncore assets than adding new ones. Story