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Private equity bids welcomed

May 30, 2014



LONDON: GlaxoSmithKline has invited private equity firms to consider making offers for a range of its older drugs sold in Western markets, according to three people with direct knowledge of the matter.

The move is part of a reshaping of the drugmaker's business, which also involves a major asset swap deal struck last month with Novartis.

Chief executive Andrew Witty said last month that Britain's biggest pharmaceuticals company could dispose of individual medicines or a broader portfolio of older established products.

Private equity firms approached by GSK include Advent International, Blackstone and KKR, the sources said, and the drugmaker was being advised by Lazard. - Reuters

Cape Argus


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Source: Cape Argus (South Africa)


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