Glaxo Wellcome Buying 80% Stake In Polish Drugmaker?

8 December 1997

Poland's third-largest state-owned pharmaceutical company, Polfa PoznanSA, is in talks with Glaxo Wellcome of the UK, for the latter to acquire an 80% stake in the firm. A GW spokesman told the Marketletter that it has heard that the Polish Council of Ministers wants GW to become the majority holder in Polfa. According to the Polish newspaper Gazetta Wyborcza, the price tag for the stake is in the region of $200 million, but neither GW or Polfa would confirm this.

Through the proposed holding in Polfa, GW would gain an important share of Poland's fast-growing drugs market, which is expected to exceed a value of $1.8 billion this year by Raiffeiesen Zentralbank analyst Katarzyna Woja, quoted in the Wall Street Journal.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

More ones to watch >

Today's issue

Company Spotlight

Ironwood is a US-based biotech advancing a pipeline of medicines in multiple areas of significant unmet need, including irritable bowel syndrome with constipation ((IBS-C)/chronic idiopathic constipation (CIC), vascular and fibrotic diseases, and refractory gastroesophageal reflux disease, among others.