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Business
GSK Buying Stake In Korean Drug Company
by Jean-François Tremblay
May 17, 2010
| A version of this story appeared in
Volume 88, Issue 20
GlaxoSmithKline will spend $110 million to acquire a 10% stake in South Korea’s largest drug company, Dong-A Pharmaceuticals. As part of their agreement, the companies will more actively promote selected products from both firms to general practitioners in South Korea. Dong-A markets a range of proprietary and generic drugs; the firm posted sales of $700 million last year. GSK notes that South Korea’s pharmaceutical market grew 14% annually from 2006 to 2008, and the firm expects 10% annual growth over the next three years.
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