Glaxo Acquisition Marks Egyptian Expansion

UK-based pharmaceutical giant GlaxoSmithKline (GSK) has continued its EM expansion plan with the US$210mn acquisition of Bristol-Myers Squibb's Egyptian mature products businesses. The deal will accelerate GSK's sales growth, extend its product portfolio with an additional 20 branded products, and give Glaxo ownership of BMS' high quality manufacturing facility in Gize. The acquisition will make GSK the largest pharma firm in Egypt with a 9% share of the US$2.1bn market, which grew by 19% in value in the last year alone. GSK spokesperson Gwenan White tells CFW

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