GlaxoSmithKline Decides Against Established Products Sale After Bids
December 04 2014 - 11:13AM
Dow Jones News
By Ed Ballard
GlaxoSmithKline PLC (GSK.LN) has abandoned a plan to sell some
of the North American and European brands in its so-called
established products portfolio after failing to find a buyer at the
right price.
"The company has evaluated all bids received and has concluded,
consistent with its key criteria of maximising shareholder value,
not to pursue divestment of these products," GSK said on
Thursday.
The drugmaker announced that it was looking for a buyer for the
products in July, adding that they were expected to deliver sales
of GBP1 billion in 2014.
Shares in GSK closed Thursday 29 pence lower at 1,461 pence.
Write to Ed Ballard at ed.ballard@wsj.com
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