23rd Dec 2002
http://www.bbj.hu/user/article.asp?ArticleID=167666
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23rd Dec 2002 |
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GlaxoSmithKline snaps up vaccine plant
GlaxoSmithKline Biologicals Kft, the local affiliate of international
pharmaceutical giant GlaxoSmithKline Plc, bought Humán Rt’s vaccine plant in
Gödöllô, near Budapest, from Teva Pharmaceutical Industries Ltd., Israel’s
largest drug company.
The buyer will invest a total of Ł10 million in the purchase and necessary
upgrades. The plant will continue to produce vaccines as a unit of
GlaxoSmithKline Biologicals.
The acquisition requires the approval of the Competition Office because of
GlaxoSmithKline’s existing Hungarian subsidiary. A verdict is due in February
2003.
GlaxoSmithKline’s existing local subsidiary had sales of Ft 14 billion in 2001.
Humán produces medicines and wholesale drugs like antibiotics and vaccines for
local use and exports.
Teva became the 80%-owner of Humán in 2001 by buying a 25% stake from the State
Privatization and Holding Rt (ÁPV) for $8 million, having previously acquired
Canadian drugmaker Novopharm, Humán’s former majority owner.
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