Glaxo. Consenting adults

GlaxoSmithKline used to be near the bottom of the pharma- ceuticals league. Now the UK drugs giant has clawed its way to the middle. The resolution of its dispute with the US Food and Drug Administration over a manufacturing snarl-up in Puerto Rico may provide the trigger that allows it to climb decisively into the top half of the league. A year ago, Glaxo shares were lowly rated because a lot of its top drugs had come off patent and investors were unconvinced that its research pipeline would p...