GSK to drive growth in emerging markets with acquisition of UCB products

GlaxoSmithKline (GSK) is to acquire UCB's product portfolio in parts of Africa, the Middle East, Asia Pacific and Latin America for Euro 515m (£483m).

As a result of the agreement, GSK will acquire several pharmaceutical brands in a number of disease areas, including Keppra for the treatment of epilepsy and Xyzal and Zyrtec for the treatment of allergic rhinitis.

The African territories include South Africa, while Middle Eastern territories include Egypt, Pakistan, Saudi Arabia and United Arab Emirates. Asia Pacific territories include Malaysia, Taiwan, Thailand and Vietnam, while Latin American territories include Argentina and Chile.

Commenting on the acquisition, Abbas Hussain, president of emerging markets at GSK, said: "This acquisition will strengthen and expand GSK's product portfolio in these countries, helping us to meet the needs of patients, particularly in the areas of epilepsy and respiratory."

GSK will acquire commercial and product distribution rights representing 3-4% of UCB's expected revenue for 2008 of â"šÂ¬3.3bn (£3.09bn).

The acquisition should be completed by 31 March.

Emerging markets are forecast to account for 40% of growth in the worldwide pharmaceutical market by 2020.