As reported by PharmaTimes, the UK-based pharmaceutical giant GlaxoSmithKline (GSK) has paid out $70 million for the Chinese drugmaker Nanjing MeiRui Pharmaceuticals, in an attempt to gain a stronger presence in China.
Nanjing MeiRui Pharmaceuticals is a leading Chinese Pharmaceutical entity and has a strong portfolio of mainly urology and allergy products. These include Prostat, a treatment for benign prostatic hyperplasia and Sheniting, a drug used for overactive bladder syndrome.
Under the deal, GSK will gain access to the Chinese company’s portfolio of products as well as benefitting from their already established sales and marketing platform, as well as a manufacturing facility based in Nanjing City.
Are you looking for a new position in the UK Pharmaceutical Industry? Click here to search our current pharmaceutical jobs online now.