GSK further extends its product portfolio in the Middle East and North Africa
GlaxoSmithKline (GSK) is continuing its expansion in emerging markets with the acquisition of the branded generics business of Bristol-Myers Squibb (BMS) in five countries in the Middle East.
GlaxoSmithKline (GSK) is continuing its expansion in emerging markets with the acquisition of the branded generics business of Bristol-Myers Squibb (BMS) in five countries in the Middle East.
GSK will pay £23.2m for part of BMS's operations in Lebanon, Jordan, Syria, Libya and Yemen. The business comprises 13 branded medicines with sales in 2008 reaching US$11.8m.
The company said the deal signalled "a strong commitment to provide quality medicines to patients in the Middle East and North Africa".
Last year GSK bought BMS's Egyptian mature products business, including a "high quality" manufacturing plant in Giza and its operations in Pakistan.
BMS will continue to supply the products acquired in this new Middle Eastern deal until 2011. Thereafter, manufacturing will transfer to the Giza plant.
GSK signed a deal with Dr Reddy's in June, gaining exclusive access to the Indian drugmaker's portfolio and future pipeline comprising more than 100 branded pharmaceuticals across therapeutic areas such as diabetes, cancer and pain management. As part of the Dr Reddy's deal, the firm will manufacture products licensed and supplied by GSK in countries such as Africa, the Middle East, Asia Pacific and Latin America, but not India.
GSK also agreed with Shenzhen Neptunus to manufacture influenza vaccines for the Chinese market and has bought a 15% stake in South African group Aspen Pharmacare Holdings.