GlaxoSmithKline to buy Nanjing MeiRui Pharma China 70 m $
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More major drug manufacturer Britain said on Tuesday that it is buying to Nanjing MeiRui pharmaceuticals for about 70 m $ (￡ 44 m) in an agreement fits in the strategy of growth through bolt-on acquisitions adding Glaxo.
Glaxo said he will have access to the company's products Chinese, as well as its staff from sales and marketing and a factory in the city of Nanjing. The agreement should be completed by the end of the month, pending regulatory approval.
Like the other major pharmaceutical players, Glaxo is struggling against win shares in one of the fastest-growing markets of the world. According to IMS Health, China is likely to be more second-large market worldwide pharmaceutical products by 2015, with sales expected to grow 25pc year next 50 billion $.
Glaxo has a pharmaceutical company, vaccines and consumer healthcare in China and also has a research and development centre in Shanghai-based Neurodegeneration.
The company generated 269 m ￡ prescribing and the sale of vaccine in China and Hong Kong during the first half of 2010.
Glaxo also aims to increase its consumption activities in the country - last year, he signed an agreement with Uni-Président China Holdings to distribute Lucozade in China.
Sales to consumers in China and Hong Kong in the first half of this year were 113 million to ￡.
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