GSK news includes Allergan buy rumors
US drugmaker Allergan's share-price soared 13% to $48.58 on March 24, after the web site dealReporter.com claimed that the world's second-biggest drugmaker, GlaxoSmithKline, was interested in acquiring the California-based firm.
The US company has recently faced difficulties, with a 5% staff reduction in the wake of falling sales as the recession hits the cosmetic market (Marketletter February 16).
However, chief executive David Pyott told Bloomberg in an interview that any potential buyer would need to make a "very compelling proposition" to woo Allergan. He added that the company was more interested in pursuing its own acquisitions in cosmetics, specialty eye care, obesity, urology or neurology.
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