GlaxoSmithKline thinking of future acquisitions, says CEO

5 April 2001

Jean-Pierre Garnier, chief executive of GlaxoSmithKline, has told aFrench newspaper that the process of integrating the two pharmaceutical majors that make up the new entity (Glaxo Wellcome and SmithKline Beecham) is now at a very advanced stage.

However, he told Les Echos that although GSK had attained critical mass, with 6.9% of the world market, what counts is not size but growth, and the company remains open to acquisitions and even mergers. Dr Garnier added that, "if tomorrow we have the opportunity to achieve an acquisition or a merger which would allow us to accelerate company growth, we would look at the file."

GSK has already named and selected some 80% of personnel for the new group and this process is expected to be completed within the next three months, said Dr Garnier, adding that the blending of the two companies' sales forces has been achieved and the administration revamped in most European countries.

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