GlaxoSmithKline announces expansion plans

Graduate jobs provider GlaxoSmithKline (GSK) has revealed that it will be extending its product portfolio in emerging markets around the world.

The pharmaceutical giant has purchased the branded generic businesses of Bristol Myers Squib (BMS) for $23.2m (£14.15m) and will acquire its operations in Syria, Libya, Yemen, Jordan and Lebanon.

Buying the business will allow the company to further its expansion in the Middle East and North Africa, as well as showing a dedication to offering high-quality products in developing countries.

Under the transaction, GSK will obtain a portfolio of 13 pharmaceuticals, which achieved $11.8m of sales last year.

In 2008, the organisation acquired mature branded products from BMS in both Pakistan and Cairo. A manufacturing plant in Giza, Greater Cairo was included in the terms of the sale.

Last month, the firm announced a partnership with Chroma Thereputics to develop compounds through esterase-sensitive motif (ESM) systems.