- Sir Richard Sykes, chief executive at Glaxo, has reported that taking over full control of Nippon Glaxo "has to be the way to go." The company is 50%-owned by the Konshi family and has not matched the growth in the Japanese market, said Sir Richard (Marketletter January 9). The change in strategy for Glaxo could be expensive as the joint venture has annual sales of L315 million ($491.4 million). This suggests a value for the business of about L1 billion.
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