GlaxoSmithKline prunes new drug pipeline

LONDON, Oct 15 (Reuters) - GlaxoSmithKline Plc (GSK.L) said on Monday it had dropped a number of experimental medicines from development, including 10 products from Phase I studies, nine from Phase II and one -- Ariflo -- from Phase III.

The terminations were offset, however, by a decision to advance several new compounds into initial clinical testing and the progress of certain assets into mid-stage clinical trials.

Europe's largest drugmaker, giving a regular update on its drug pipeline, said it still had 30 assets in late-stage development.