GSK to offer $15 bn for Pfizer unit: report
The British-based pharmaceutical group GlaxoSmithKline (GSK) is planning to offer more than $15 billion dollars for the consumer health care business of its US rival Pfizer, a newspaper said on Friday.
By PTI |
LONDON: The British-based pharmaceutical group GlaxoSmithKline (GSK) is planning to offer more than $15 billion dollars for the consumer health care business of its US rival Pfizer, a newspaper said on Friday.
The Financial Times, citing people close to the negotiations, said GSK has decided to move ahead with a bid that would turn it into the world's biggest producer of non-prescription drugs and into the second-largest prescription drugs supplier.
Bids close on Tuesday for Pfizers healthcare or "over-the-counter" business.
Britain's leading financial news daily said GSK would probably face competition from half a dozen firms, including Colgate-Palmolive, Reckitt Benckiser, Johnson And Johnson, Wyeth and, possibly, Bayer.
GSK is targeting the Pfizer unit to bolster its negotiating position with governments and retailers by offering a wide range of medicines as well as boosting its sales in the United States, the newspaper said.
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