GSK exec foresees more M&A in the industry

11/9/2010 | Reuters

David Redfern, chief strategy officer at GlaxoSmithKline, said mergers and acquisitions in the drug industry likely will continue and that investors might see more major deals as companies attempt to avoid market pressure. However, GlaxoSmithKline will stick to smaller purchases because the company does not rely on deals to fill holes in its drug portfolio, Redfern said. "As the major Western markets slow down, M&A has been seen as a way of getting more top-line growth," he said.

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