GlaxoSmithKline Reportedly Trying Again to Sell Antibiotics Line [The Motley Fool]
GSK plc American Depositary Shares (Each representing two Ordinary Shares) (GSK)
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Source: The Motley Fool
GlaxoSmithKline Reportedly Trying Again to Sell Antibiotics Line The divestment of its cephalosporin products could bring in several hundred million dollars. GlaxoSmithKline ( NYSE:GSK ) is hanging a "for sale" sign on a group of its antibiotics, according to an article published by Bloomberg. The article, citing "people familiar with the matter," states that the big drugmaker is working with financial advisors to find a buyer for its line of cephalosporins, a type of antibiotics, in a move that could put several hundred million dollars into the company's coffers. Glaxo and its advisors are testing the waters for such a sale, Bloomberg wrote, making preliminary inquiries of interest. Early targets are peer pharmaceutical companies active in the antibiotics segment, as well as investment funds. The company's portfolio of cephalosporins includes the drugs Zinna and Fortum, which collectively bring in roughly $200 million in annual revenue. Glaxo unsuccessfully attempted to sell this l
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Sec Filings
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- GSK's page on the SEC website