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GSK driving growth in emerging markets

GlaxoSmithKline has entered into a transformational agreement with South African pharmaceutical company
GlaxoSmithKline (GSK) has entered into a transformational agreement with South African pharmaceutical company, Aspen, as a part of a new strategy to accelerate sales growth in emerging markets and extend its product portfolio.

Under the terms of the agreement with Aspen and its venture partner, Strides Arcolab, GSK will access to a broad portfolio and future pipeline of branded pharmaceutical products on a licence and supply basis across emerging markets.

According to GSK, emerging markets are predicted to grow by 13 per cent - triple the growth rates of Western markets - and will account for 40 per cent of the worldwide pharmaceutical market by 2020. In an attempt to tap into this potential resource, GSK has established a new business model and prioritised investments to boost its geographical footprint in emerging market countries.

"This collaboration gives us access to a renewable, high quality and competitively priced source of branded pharmaceuticals in high demand therapeutic areas," said Andrew Witty, CEO of GSK. "Growth in both population and economic prosperity is leading to increased demand for branded pharmaceutical products."

23rd July 2008

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