Could acquisitive GlaxoSmithKline plc (NYSE:GSK) be poised for another deal, after snapping up South Africa's Aspen Pharmacare Holdings Ltd. and Stiefel Laboratories Inc. of Coral Gables, Fla., since late April?
The Economic Times of India reported Friday that it is in advanced talks about buying at least 51% of India's Shanta Biotechnics Ltd. after rival bidder Sanofi-Aventis SA (NYSE:SNY) pulled out.
Shanta of Hyderabad is 80% owned by Merieux Alliance of France and became the first Indian company to develop and market a recombinant Hepatitis B vaccine in 1997.
A deal would fit with GlaxoSmithKline CEO Andrew Witty's stated goal of expanding in emerging markets, but spokesman David Outhwaite declined to comment. Merieux spokeswoman Anne de Chiffreville would say only that the Indian unit had attracted interest from international businesses at several points in the last few years and declined to confirm the auction. - Laura Board
See story from The Economic Times of India
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