UPDATE 1-Glaxo buys Bristol generic drugs in Mideast

* Buys generics business in 5 countries for $23.2 mln

* Part of Glaxo strategy to build emerging markets

* Follows last year's deal to buy Bristol's Egypt unit

(Adds details, background)

LONDON, July 2 (Reuters) - GlaxoSmithKline (GSK.L) expanded its emerging markets footprint on Thursday by buying Bristol-Myers Squibb's (BMY.N) branded generics drugs business in Lebanon, Jordan, Syria, Libya and Yemen for $23.2 million.

The cash deal follows the British drugmaker's 2008 purchase of Bristol's mature medicines business in Egypt and underlines the strategy goal of Chief Executive Andrew Witty of making Glaxo a leading player in branded generics in developing countries.

The new acquisition comprises a portfolio of 13 branded pharmaceuticals with annual sales of $11.8 million in 2008.

Last month, Glaxo took another significant step in emerging markets by clinching a deal with Indian generic drugmaker Dr Reddy's Laboratories (REDY.BO), giving it access to Dr Reddy's portfolio and future pipeline of more than 100 drugs. [ID:nLF635888]

Glaxo also has a collaboration with South Africa's Aspen (APNJ.J) focused on emerging markets and has signed a deal with China's Shenzhen Neptunus (8329.HK) for flu vaccines.