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Glaxo SmithKline

Executive Summary

Merged company will not create new global headquarters in the New York/New Jersey region as previously announced (1"The Pink Sheet" Jan. 24, p. 18). U.S. operations will instead be based out of existing companies' headquarters in Research Triangle Park, N.C. (Glaxo Wellcome) and Philadelphia (SmithKline Beecham). Sales and marketing components in the U.S. will also remain separate during the first phases of the merger process (2"The Pink Sheet" Feb. 7, p. 19)

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