Glaxo's outgoing CEO sees R&D as his legacy

Jean-Pierre Garnier, who steps down as CEO of GlaxoSmithKline P.L.C. on May 21, tells the Financial Times he's leaving the drug giant in better shape R&D-wise than he got it back in 2000.

GlaxoSmithKline has 34 drug undergoing the final phase of clinical testing. There were only two in late-stage trials in 2000.

The company, which has a U.S. headquarters in Philadelphia, announced back in October that Garnier would be stepping down. His successor is Andrew Witty.

The newspaper quotes analysts (named and unnamed) who disagree about his overall legacy. But Garnier has no doubts that breaking GlaxoSmithKline's R&D into smaller units is his top achievement:

We are 200 per cent better at re-loading the pipeline. You have to really create the conditions for success. If not, you have zero chance. You can have serendipity only if the grounds are right.

Read the Financial Times story here.