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GlaxoSmithKline eyes new acquisitions in India

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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 would love to buy something in India,” GSK Chief Executive 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 for companies.

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