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(E) GlaxoSmithKline buys the research institute of Croatian drug maker Pliva
By Nenad N. Bach | Published  02/26/2006 | Business | Unrated
(E) GlaxoSmithKline buys the research institute of Croatian drug maker Pliva


Glaxo in $50m Croatian drug deal


GlaxoSmithKline has bought the research institute of Croatian drug maker Pliva in a deal worth up to $50m (£28.7m).

Zagreb-based Pliva, eastern Europe's largest drug maker by sales, will get an upfront sum of $35m with possible further payments of up to $15m.

In addition, Pliva will receive royalties on certain assets should they reach the market.

Glaxo, Europe's biggest drug maker, is to take control of Pliva's intellectual property assets and employ its staff.

The deal is expected to be completed in April, subject to regulatory approval.

Pliva opened its newly built state-of-the-art research and development institute in 2002 and focuses on the generic drugs business. It has a target to launch between 60 and 80 new generic products this year.

BBC News
February 14, 2006


Tuesday , 14 February 2006

http://www.turkishweekly.net/news.php?id=25918


 

Formatted for CROWN by Ivo Bach

 

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