Lupin, India and US pharmaceutical companies consider bidding for GlaxoSmithKline mature drugs

Source: Reuters Chinanet 2014-07-23 five sources familiar with the situation said that Indian pharmaceutical company lupin, some US pharmaceutical companies seeking tax saving transactions and private equity funds are planning to bid for a series of mature drugs that GSK is auctioning GlaxoSmithKline seeks to divest mature drug assets to improve growth, and wants to transfer generic drugs sold in North America and Western Europe, with annual sales of around £ 1bn ($1.7bn) The total value of these assets would be between $3.5 billion and $5 billion, assuming the sale price was two to three times the annual sales, the source said According to several sources who asked to remain anonymous, interested parties may submit unrestricted offers by the end of this month GlaxoSmithKline's drugs to be sold include the antidepressant Paxil, migraine treatment imitrex, antacids Zantac and antiemetic Zofran GlaxoSmithKline staff declined to comment on the news The UK's largest pharmaceutical company will report second quarter results on Wednesday (end)