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GSK Acquires Argentine Generics Firm for $253 Million

2:58 AM MDT | June 11, 2010 | Deepti Ramesh

GlaxoSmithKline (GSK; London) says it has acquired Laboratorios Phoenix (Buenos Aires), a leading Argentine pharmaceutical business, for a cash consideration of about $253 million, to accelerate sales growth and further extend its pharmaceutical portfolio in Argentina and the Latin America region. Phoenix is focused on the development, manufacturing, and sale of branded generic products. GSK will gain access to a broad portfolio of branded generic pharmaceutical products covering therapeutic areas including cardiovascular, gastroenterology, metabolic and urology...

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