|
|
Article: Britain-Based Drugmaker Glaxo in Merger Talks with Bristol Myers.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 29, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Knight Ridder/Tribune Business News
Mar. 28 -- Drugs giant Glaxo Wellcome has discussed UKpound 140 billion merger plans with American rival Bristol Myers Squibb. Talks reached a very preliminary stage and no deal is imminent.
However, Glaxo boss Sir Richard Sykes, who believes the industry needs more consolidation, is said to find the proposals attractive.
Glaxo is strong in asthma and migraine treatments, Bristol has a strong position in anti-cancer and central nervous system drugs and makes toiletries and beauty products. Combined, they would have sales of UKpound 12 billion, twice the size of current market leaders Novartis and ...