GSK expands into Pakistan
This article was originally published in The Tan Sheet
Executive Summary
The U.K. firm gains more than 30 pharmaceutical brands, including antibiotics, vitamins and dermatology products, in its purchase of Bristol-Myers Squibb Pakistan, GlaxoSmithKline announces Dec. 22. The $36.5 million acquisition "reinforces our commitment to Pakistan" and broadens GSK's product portfolio, says Abbas Hussain, president of emerging markets for GSK. The company says BMSP's 2007 sales were about $19 million and Pakistan's total pharmaceutical market is $1.2 billion. GSK's goal is to introduce old products in new places and coordinate its Rx and OTC segments in emerging markets (1"The Tan Sheet" Oct. 27, 2008, p. 14)
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