INTERVIEW-Glaxo targets M&A to boost consumer health

Fri Mar 28, 2008 10:04pm GMT
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* Glaxo's Consumer Healthcare head looking at acquisitions to boost growth

* "Personal ambition" for long run to grow unit in double digits

* Weight-loss drug alli sold $6-8 million a week in U.S. at start of 2008

* Glaxo still hopeful for OTC statin drugs in United States

(Adds further comments on emerging markets and statins, background on rivals)

By Ben Hirschler

LONDON (Reuters) - GlaxoSmithKline Plc (GSK.L: Quote, Profile, Research) is seeking acquisitions to boost its consumer health business, which the group's divisional head hopes can achieve at least 10 percent sales growth in the long term.

John Clarke, president of Consumer Healthcare at Europe's biggest drugmaker, said acquisitions were integral to his growth strategy, alongside product innovation and switching more drugs to over-the-counter (OTC) use.

"You could expect this industry to continue to consolidate. We'll see more acquisitions come up, I've no doubt," he said in an interview on Friday.  Continued...

 
 

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