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GSK Eyes $2B Acquisitions In India
GlaxoSmithKline is looking to make $2 billion worth of acquisitions to attain top rank in India, one of the world’s fastest-growing drug markets.
GlaxoSmithKline(GSK) is looking to make $2 billion worth of acquisitions to attain top rank in India, one of the world’s fastest-growing drug markets,The Wall Street Journalreports, citingThe Times. GSK was seeking “bolt-on acquisitions” in Asia’s third-biggest economy to strengthen its emerging markets business, said CEOAndrew Witty.
Witty said he expected the company to spend between $500 million and $2 billion. The company was unlikely to pursue mergers and acquisitions on a larger scale and would not overpay for companies, he added.
Click here for the story fromThe Wall Street Journal.