Cashing in on Affymetrix
Executive Summary
GSK recorded $216 mil. in profits from a reduction in its holdings in Affymetrix during the first half of 2000. Glaxo acquired 65% of Affymetrix as part of the $485 mil. purchase of Affymax in 1995. Glaxo sold additional shares of Affymetrix in the second half of the year, which contributed to an additional $280 mil. in profits from equity investments. GSK now owns 16% of the company, and has surrendered its right to board representation
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