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Article: SKB and Glaxo Merger Creates A Powerhouse.
- Article from:
- Chemical Market Reporter
- Article date:
- January 24, 2000
- Author:
CopyrightCOPYRIGHT 2000 Schnell Publishing Company, Inc. 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)
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The combined company will be a leader in nearly all sectors of the drug market.
THE MERGER of Glaxo Wellcome and SmithKline Beecham (SKB) is likely to trigger major changes in the pharmaceuticals and fine chemicals industries. Glaxo SmithKline expects to use its position as the world's largest pharmaceutical manufacturer with total sales of [pounds]15 billion ($25 billion) to radically transform the way medicines are designed and developed.
The company plans to use its financial strength to acquire new technologies through takeovers and alliances, particularly in biotechnology.
The new company will combine Glaxo Wellcome's skills in ...