Corporate Update
GlaxoSmithKline eyes new acquisitions in India
GlaxoSmithKline eyes new acquisitions in India
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By eHealth Network - 12 October 2011
Global pharma giant GlaxoSmithKline is eyeing acquisitions worth $ 2 billion in India, the world’s fastest-growing drug market, media reports said.
“India is clearly on the radar. We plan to spend between $ 500 million and $ 2 billion. I wouldlove to buy something in India,” GSK Chief utive Andrew Witty told.
GSK, which employs 5,000 people and has turnover of more than $ 1 billion in India, was, however,unlikely to pursue large-scale merger and acquisitions, and was unwilling to overpay forcompanies.
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