Global Processing

GlaxoSmithKline eyes acquisitions in India

October 3, 2011

LONDON -- GlaxoSmithKline is eyeing acquisitions worth $2 billion in India, the world''s fastest-growing drug market, The Economic Times reported.

“India is clearly on the radar. We plan to spend between $500 million and $2 billion. I would love to buy something in India,” GSK Chief Executive Andrew Witty said.

GSK, which employs 5,000 people and has turnover of more than $1 billion in India, was, however, unlikely to pursue large-scale merger and acquisitions, and was unwilling to overpay for companies, according to the story.