GlaxoSmithKline (GSK) Hunts For Suitors To Buy Older Drugs, Eyes Cash To Focus On Most Lucrative Areas Of Business
5/30/2014 7:33:26 AM
GlaxoSmithKline (GSK.L) has invited private equity firms to consider making offers for a range of its older drugs sold in Western markets, according to three people with direct knowledge of the matter. The move is part of a reshaping of the drugmaker's business, which also involves a major asset swap deal struck last month with Novartis (NOVN.VX). Chief Executive Andrew Witty said last month that Britain's biggest pharmaceuticals company could dispose of individual medicines or a broader portfolio of older established products.
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