UCB, GSK Deal Highlights Divergent EM Strategies

GlaxoSmithKline (GSK) has once more re-affirmed its emerging market 'bolt-on' acquisition strategy with the EUR515mn (US$667mn) purchase of more than 50 commercial operations and selected product distribution rights from Belgian-based UCB. As a result of the agreement - which is due to be completed in March 2009 - GSK will acquire product rights for several brands in a number of disease areas, but none of what UCB describes as its new core products. Operations that have been divested by UCB include those in Malaysia, Taiwan, Thailand, Vietnam, Egypt, Pakistan, Saudi Arabia, United Arab Emirates, South Africa, Argentina and Chile.

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