GSK confirms plan to acquire Chinese urology firm
This article was originally published in Scrip
GlaxoSmithKline has announced plans to acquire Nanjing MeiRui Pharma, a firm based in Shanghai, for approximately $70 million cash, confirming a previously published Scrip news item (scripintelligence.com 6 December 2010). GSK will acquire 90% of MeiRui from Pagoda Pharmaceutical with the remaining 10% coming from Swedish firm Allergon. Providing a modest boost to its presence in China, a market where it already has well-developed, integrated operations.