GlaxoSmithKline (GSK; NYSE: GSK), a leading pharmaceutical company based in the UK, has reportedly withdrawn from the US industry trade group Biotechnology Innovation Organization (BIO). This decision follows a similar trend set by Pfizer (NSE: PFIZER), UCB (EBR: UCB), WuXi AppTec (HKG: 2359, SHA: 603259), Takeda (TYO: 4502), and other large companies that have previously ended their affiliations with BIO. GSK has chosen not to renew its BIO membership in 2025 after conducting a series of evaluations, stating in an emailed statement that the company believes “there are other areas we can focus our resources.”
BIO’s Role and Recent Challenges
BIO, with an eclectic membership of nearly 1000 companies worldwide, primarily serves as a lobbying agent for biopharmaceutical companies. However, its perceived failure to effectively lobby against provisions in the Inflation Reduction Act (IRA) and the BIOSECURE Act that are not advantageous to its member companies has led to a loss of confidence and subsequent exits by several major players in the industry.
Implications of GSK’s Withdrawal
The departure of GSK from BIO underscores the growing dissatisfaction among pharmaceutical giants with the trade group’s ability to represent their interests effectively. This development may prompt BIO to reevaluate its strategies and approaches to better serve its remaining members and potentially attract new ones.-Fineline Info & Tech
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