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Glaxo Wellcome acquisition of Polfa Polzan creates largest Rx company in Poland.

Executive Summary

GLAXO TO EXPAND EASTERN/CENTRAL EUROPE PRESENCE VIA ACQUISITION OF POLISH DRUG FIRM Polfa Poznan SA. Glaxo Wellcome announced Jan. 28 an agreement to acquire 80% of Poland's second largest pharmaceutical company from the Polish Ministry of State Treasury. The combination of Polfa Poznan with the existing Glaxo Wellcome Poland will make Glaxo Wellcome Poznan the largest pharmaceutical company in Poland, with a 7.5% market share. The deal allows Glaxo "to expand its base throughout Eastern and Central Europe and other emerging markets," the company said, noting a "strong commitment to its regionalization strategy and the importance of emerging markets to the company's future development."

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