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GSK looks at acquisition for inorganic growth in India
By agencies
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Tuesday, 08 March 2005, 20:30 IST
MUMBAI: British pharma major Glaxo SmithKline Pharmaceuticals is looking at acquiring brands and companies for an inorganic growth in the country post the product patent regime that comes into force this year.
The Indian pharma industry is looking for consolidation in the post product patent regime and GSK wants to take advantage of that. Most Indian promoters of the Company also want to take advantage of the regime and want to exit.
GSK has also announced its decision to go for a buyback of its equity shares. The company has reserves to the tune of Rs 700 crore on its balance sheet. The company has also signed in-licensing agreements with Dutch-based Company Organon Pharmaceuticals.