GSK buying Canada's ID Biomedical for $1.4 billion

09/8/2005 | Bloomberg

In a move to acquire a larger share of the flu vaccine market, GlaxoSmithKline is buying Canada's ID Biomedical in a $1.4 billion deal. GSK's Fluarix flu shot was approved by the U.S. FDA Aug. 31, but the company is expected to produce only 8 million doses this year, and one analyst suggests "capacity issues are what's driving" the move to buy the Canadian biotech firm.

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