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 1. Home
 2. Media
 3. Press releases
 4. GSK further extends its product portf...

01 July 2009


GSK FURTHER EXTENDS ITS PRODUCT PORTFOLIO IN THE MIDDLE EAST AND NORTH AFRICA

GlaxoSmithKline plc (GSK) today announced that it has acquired the branded
generics business of Bristol Myers Squibb (BMS) in Lebanon, Jordan, Syria, Libya
and Yemen for a cash consideration of $23.2m (£14.2m). The business comprises a
portfolio of 13 branded pharmaceuticals with annual sales in 2008 of $11.8m.
This purchase is another step forward in GSK’s strategy to accelerate growth in
emerging markets and signals a strong commitment to provide quality medicines to
patients in the Middle East and North Africa.

Issued: Thursday 02 July 2009, London, UK

GlaxoSmithKline plc (GSK) today announced that it has acquired the branded
generics business of Bristol Myers Squibb (BMS) in Lebanon, Jordan, Syria, Libya
and Yemen for a cash consideration of $23.2m (£14.2m). The business comprises a
portfolio of 13 branded pharmaceuticals with annual sales in 2008 of $11.8m.
 This purchase is another step forward in GSK’s strategy to accelerate growth in
emerging markets and signals a strong commitment to provide quality medicines to
patients in the Middle East and North Africa.

This acquisition builds upon GSK’s previous purchases of mature branded products
in 2008 from BMS in Pakistan and Egypt, which included a high quality
manufacturing plant in Giza, Greater Cairo.  BMS will continue to supply the
products acquired today until 2011 when it is anticipated that manufacture will
transfer to GSK’s Giza plant.

GlaxoSmithKline – one of the world’s leading research-based pharmaceutical and
healthcare companies – is committed to improving the quality of human life by
enabling people to do more, feel better and live longer.  For further
information please visit www.gsk.com




ENQUIRIES:

   

UK Media enquiries:

Philip Thomson

(020) 8047 5502

 

David Outhwaite

(020) 8047 5502

 

Stephen Rea

(020) 8047 5502

 

 

 

US Media enquiries:

Nancy Pekarek

(919) 483 2839

 

Mary Anne Rhyne

(919) 483 2839

 

Kevin Colgan

(919) 483 2839

 

Lisa Behrens

(919) 483 2839

 

   

European Analyst/Investor enquiries:

David Mawdsley

(020) 8047 5564

 

Sally Ferguson

(020) 8047 5543

 

Gary Davies

(020) 8047 5503

     

US Analyst/ Investor enquiries:

Tom Curry

(215) 751 5419

 

Jen Hill Baxter

(215) 751 7002



Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995, GSK cautions investors that any forward-looking statements
or projections made by GSK, including those made in this announcement, are
subject to risks and uncertainties that may cause actual results to differ
materially from those projected. Factors that may affect GSK' s operations are
described under 'Risk Factors' in the 'Business Review' in the company' s Annual
Report on Form 20-F for 2008.

 
 
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