Please login to the form below

Not currently logged in
Email:
Password:

GSK increases China presence

GlaxoSmithKline is to purchase Chinese company Nanjing MeiRui Pharmaceuticals, expanding its presence in emerging markets

GlaxoSmithKline (GSK) is to purchase Chinese company Nanjing MeiRui Pharmaceuticals, expanding its presence in emerging markets.

GSK will pay around $70m for MeiRui, the operating entity of Pagoda Pharma Group in China, with ninety per cent of share capital to be acquired from Pagoda Pharmaceuticals Limited and ten per cent from Allergon AB.

The transaction is expected by the end of 2010, subject to regulatory approval.

GSK will take over a manufacturing facility in Nanjing City, Jiangsu Province, China, and will gain access to an established marketing platform and a strong company portfolio of urology and allergy products.

This includes Prostat for benign prostatic hyperplasia, as well as Sheniting for overactive bladder syndrome.

GSK's decision to further expand in China ties in with plans announced at the beginning of 2010 to shift focus from traditional Western markets to emerging markets in Asia and Latin America.

The company's third quarter results also saw revenue in emerging markets, including China, increase by 14 per cent as pharmaceutical sales in both the US and Europe decreased.

In recent months, other major pharmaceutical companies have also declared expansion projects in China.

Nycomed acquired a majority stake in Guangdong Techpool Bio-Pharma Co (Techpool), a Chinese bio-pharmaceutical company, while Novo Nordisk announced plans to double the size of its R&D centre in Beijing by 2015.

Eli Lilly and Company also announced developments in China, with intentions to open a research centre in the country focused on the discovery of new medicines to treat diabetes.

7th December 2010

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Aptus Health

Aptus Health is dedicated to advancing health engagement. The company offers end-to-end digital health engagement solutions spanning all areas of...

Latest intelligence

International Childhood Cancer Day 2019
The number of new cases per year is shocking but the journey and the outlooks have vastly improved. We've pulled together an infographic to show just what we mean with...
Immuno-oncology in 2019: the rapid evolution continues
Immunotherapy is pharma’s biggest growth driver – how will it develop in 2019?...
Mixing up Focus Groups
A nice spread of homogeneous participants in a focus groups are often a go to for reliable research outcomes but there's much to be said for mixing it up and...

Infographics