Glaxo aims to launch five cancer drugs in 3 years

GlaxoSmithKline aims to launch five new drugs for cancer in the next three years, its head of research said on Monday at the start of a presentation to analysts on the group's pipeline.

"This late-stage oncology pipeline has the potential, effectively, to deliver five new oncology medicines in the next three years," Moncef Slaoui told reporters in a conference call.

The total does not include Tykerb, which was recently launched for breast cancer in the United States.

Europe's biggest drugmaker aims to establish itself as a major player in the fast-growing oncology market, although industry analysts say its ambitions will do little to offset short-term worries about sales and profits.

Glaxo suffered a major blow last month after a critical study linked its diabetes drug Avandia to heart-attack risk, hitting demand for its second biggest selling medicine.

source : news.yahoo.com