Glaxo plays down Bristol link
Monday 29 March 1999
Sources close to Glaxo said the UK company held informal talks over a no-premium merger with BMS, the world's fifth-largest drug maker, but negotiations broke down a few months ago and are unlikely to be resumed. Glaxo is also thought to have considered and rejected a merger with Roche of Switzerland.
The BMS failure raises the pressure on Glaxo and SmithKline Beecham to reopen talks on their own merger. Jan Leschly, SKB chief executive, has since scotched suggestions that a deal may still be on.
However, Sir Richard Sykes, Glaxo chairman, believes the logic of further consolidation is irrefutable and is keen to find a partner. His target is for Glaxo to control 10 per cent of the world drug market. It currently has a 4 per cent share.
A merger with BMS would have produced a group with a combined share of 8 per cent and market value of pounds 140bn.
- 1 The political parties aren't all the same – which means 2015 will be a 'big-choice' election
- 2 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
UK weather: Warning for more snow and ice as freezing temperatures and gales hit Britain
Three killed at South Korean nuclear reactor days after hackers target country's atomic agency
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...