Triangle Business Journal by Lauren K. Ohnesorge, Staff Writer
British drug maker GlaxoSmithKline (Nasdaq: GSK) will not be buying smaller rival AstraZeneca (NYSE: AZN). That’s according to GSK CEO Andrew Witty, who told shareholders Thursday that buying a company AstraZeneca’s size would be “distracting,” Reuters reports.
GSK has its U.S. headquarters in Research Triangle Park.
While it doesn’t have a large presence in the Triangle like GSK, AstraZeneca is well known among local drug makers, including partnering with them on occasion.