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Glaxo buys Bristol-Myers MidEast operations
- Middle East: Sunday, July 05 - 2009 at 10:36
GlaxoSmithKline has acquired Bristol-Myers Squibb's branded generics drugs business in Lebanon, Jordan, Syria, Libya and Yemen for $23.2m, Reuters has reported. The new acquisition comprises a portfolio of 13 branded pharmaceuticals with annual sales of $11.8m in 2008. The cash deal follows the British drug maker's 2008 purchase of Bristol's mature medicines business in Egypt and underlines the strategy goal of Glaxo becoming a leading player in branded generics in developing countries.
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StaffSunday, July 05 - 2009 at 10:36 UAE local time (GMT+4)
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