GlaxoSmithKline Forms Alliance With Dong-A Pharmaceuticals Co
May 11 2010 - 02:42AM
Dow Jones News
GlaxoSmithKline PLC (GSK.LN) said Tuesday it has entered into a
strategic alliance with Dong-A Pharmaceuticals Co., Ltd., a
pharmaceutical and OTC Company in South Korea.
MAIN FACTS:
-As part of the transaction, GSK will acquire a 9.9% minority
equity shareholding in Dong-A for GBP73.9 million (KRW 142.9
billion).
-Dong-A has a portfolio of proprietary and generic
pharmaceutical products and leading consumer healthcare brands.
-Last year, Dong-A reported total sales of GBP414 million (KRW
801 billion).
-The alliance will initially co-promote selected GSK and Dong-A
pharmaceutical products for use in primary care.
-Additional synergies will be explored to strengthen both
companies' commercial positions within the Korean pharmaceutical
market.
-Under the terms of the agreement the companies will share
profits generated from the co-promoted products above pre-agreed
baselines.
-A new business unit will be created within Dong-A to manage the
collaboration.
-GlaxoSmithKline shares closed Monday at 1187.5 pence.
-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269;
iain.packham@dowjones.com
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