GSK's Emerging Markets strategy advances with acquisition in Egypt from Bristol Myers Squibb

This could also stand to represent more emerging markets for clinical trials down the road. BD

GlaxoSmithKline plc (GSK) today announced that it will acquire the Egyptian mature products business of Bristol Myers Squibb (BMS), for $210 (£125) million, in a move to accelerate sales growth and further extend its pharmaceutical portfolio in emerging markets. Commenting on the acquisition Abbas Hussain, President Emerging Markets, GSK said, "This acquisition is an important step forward in GSK's strategy to accelerate sales growth in emerging markets. It will enable us to build and diversify our existing branded pharmaceuticals portfolio and signals our strong commitment to provide quality medicines to patients in Egypt and other countries in the Middle East and North Africa region.