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Glaxo plans up to 20 new drug applications in near term

GlaxoSmithKline could seek regulatory approval for up to 20 new medicines before 2020 and some could hit the market by then, enabling it to boost revenue rather than just compensate for declining sales of its older drugs.

The British drugmaker said it could start late-stage patient testing in the next two years on about 20 new drugs or new uses for existing ones. And it could start mid-stage patient testing on about 30 others.

Executives of GlaxoSmithKline Plc, the world's sixth-biggest drugmaker by revenue, presented an update Tuesday on progress in developing new medicines and vaccines. They're needed because the company's longtime mainstay, asthma inhaler Advair, which...