The small British company was sometimes called Glaxo University, because it conducted important pharmaceutical research that rarely resulted in profitable drugs. Then the scientists at Glaxo Laboratories created a molecule they called ranitidine, and in 1978 the company was granted a US patent. The molecule was new, but not novel. The scientists had, as scientists sometimes do, looked for a way to mimic the success of an established drug—in this case, one that healed ulcers and could be used to treat heartburn. They developed ranitidine quickly, and the US Food and Drug Administration reviewed it quickly. Glaxo gave it the brand name Zantac.
Glaxo marketed it as better and safer than the drug that inspired it, Tagamet, and before long, Zantac overtook Tagamet to become the world’s bestselling prescription medication. For years, Glaxo counted on Zantac for nearly half of its sales and almost as much of its profit. The company won an award from Queen Elizabeth; the chief executive officer was knighted. Zantac created reputations and fortunes. It financed the modern version of Glaxo, which, after mergers and takeovers, and spinoffs, ended up as GSK Plc, a company now worth some $73 billion. Among its most popular drugs are the antidepressants Paxil and Wellbutrin and the shingles vaccine Shingrix.
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