R&D Productivity at GSK? He CEDD, She CEDD

Management endorsed GlaxoSmithKline's new R&D structure-the CEDDs-as an overwhelming success during the Big Pharma's December 2003 R&D day. But the analyst and investor communities weren't uniformly impressed. And fair enough: regardless of GSK's excitement and the storm of numbers and early stage results that promise a robust series of product launches, it's too early to judge the success of the CEDD experiment. A lot can go wrong between now and 2008, when the pipeline will ripen or rot.