Issue Date: February 2, 2009
GSK Buys UCB Unit
GlaxoSmithKline will pay $680 million in cash for the commercial operations and distribution rights for UCB's marketed product portfolio in certain parts of Africa, the Middle East, Asia-Pacific, and Latin America. The deal gives GSK rights to sell the epilepsy drug Keppra and the allergy drugs Xyzal and Zyrtec, among other drugs. It also ties into GSK's recently launched strategy to strengthen its position in emerging markets, which the company says will represent 40% of growth in pharmaceuticals by 2020, in order to reduce its reliance on blockbuster drugs.
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