GSK continues acquisitive trend, buying AD vaccines and OTC product rights
UK-headquartered GlaxoSmithKline, the world's number two drugmaker, hopes to take advantage of the downturned stock market to make some acquisitions and, as a result, has scaled down its planned L12.0 billion ($20.56 billion) share buyback program.
Chief executive Andrew Witty commented, along with the firm's third quarter results (Marketletter October 27), that GSK has already been approached by some small pharmaceutical firms which are suffering in the current credit-crunch. In an interview with the Wall Street Journal he noted that the drug giant would continue to favor small buys over large deals.
Enters deal for AD vaccine candidates for up to 430M euros
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