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GSK buys 13 generic products from BMS

GlaxoSmithKline has acquired the branded generics business of Bristol-Myers Squibb in five countries for £14.2m

GlaxoSmithKline(GSK) has acquired the branded generics business of Bristol-Myers Squibb (BMS) in five countries for £14.2m.

The deal strengthens GSK's strategy to accelerate growth in emerging markets and will see the pharmaceutical giant take over a portfolio of 13 branded pharmaceuticals in Lebanon, Jordan, Syria, Libya and Yemen.

In 2008, GSK purchased several mature branded products in Pakistan and Egypt, including a manufacturing plant in Giza, from BMS. Under the terms of this latest agreement, BMS will continue to supply the acquired products until the anticipated transfer of manufacture to GSK's Giza plant in 2011.

GSK has been actively building its portfolio within emerging markets for some time – Gaining exclusive access to Dr. Reddy's portfolio and future pipeline of more than 100 branded pharmaceuticals, entering into a joint venture with Shenzhen Neptunus for flu vaccines in China, acquiring a stake in Africa's biggest generic drug maker, Aspen and GSK acquiring UCB SA's marketed product portfolio for £483m gaining several pharmaceutical brands including Keppra for the treatment of epilepsy and Xytal and Zyrtec for allergic rhinitis are just a few recent examples.

2nd July 2009

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