22nd Jul 2014 13:53
LONDON (Alliance News) - A generics firm in India, Lupin Ltd, and some US drugsmakers are considering bids for a range of older drugs to be auctioned by GlaxoSmithKline PLC, Reuters reported Tuesday, citing five sources familiar with the matter.
Glaxo is looking to sell the older products to improve its growth profile, including the disposal of off-patent drugs marketed in North America and western Europe with annual sales of around GBP1 billion, the report said.
At a multiple of between two and three times those sales, the assets could sell for between USD3.5 billion and USD5.0 billion, the sources said.
A spokesperson for Glaxo was not immediately available for comment.
Glaxo will release its second quarter earnings Wednesday.
http://uk.reuters.com/article/2014/07/22/us-gsk-disposal-idUKKBN0FR18P20140722
Shares in Glaxo were trading up 0.2% at 1,560.50 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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