GlaxoSmithKline acquires Argentina’s Laboratorios Phoenix for $253 million
11 Jun 2010
GlaxoSmithKline (GSK), the UK's largest pharmaceutical firm and the world's fourth-largest by revenue, yesterday acquired Argentinean pharmaceutical company Laboratorios Phoenix (Phoenix) for $253 million as part of its plan to push aggressively into emerging markets.
The acquisition will accelerate the London-based GSK's sales growth and further extend its pharmaceutical portfolio in Argentina and the Latin America region.
Phoenix is a leading Argentine pharmaceutical company focused on the development, manufacturing, marketing and sale of branded generic products.
Founded in 1938 and based in Buenos Aires, Phoenix has a broad based portfolio covering the cardiology, gastroenterology, neuroscience, metabolic, urology and analgesic therapy areas.
GSK will gain access to a broad portfolio of branded generic pharmaceutical products covering therapeutic areas including cardiovascular, gastroenterology, metabolic and urology, as well as a manufacturing facility near Buenos Aires and Phoenix's primary care sales force.
In addition, GSK will acquire an extensive local pipeline of branded generics and product development capability in Argentina.
.webp)
.webp)
