GSK allots as much as $2B for "bolt-on acquisitions" in India

10/3/2011 | Wall Street Journal, The

GlaxoSmithKline is looking to spend between $500 million and $2 billion on smaller, "bolt-on acquisitions" in India to secure its position in emerging markets, CEO Andrew Witty said. He said GSK is not willing to overpay. "We already have an enviable brand in India so there is no need for us to pay a strategic premium," Witty said. "Others might need to do that, but we don't."

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