GSK signs strategic alliance with Dong-A

11th May 2010 07:56

Global pharmaceuticals leviathan GlaxoSmithKline has entered into a strategic alliance with South Korea's Dong-A Pharmaceuticals.As part of the deal, GSK will acquire a 9.9% minority stake in Dong-A, which has a portfolio of proprietary and generic pharmaceutical products and leading consumer healthcare brands, for £73.9m.Both companies will share profits generated from the co-promoted products above pre-agreed baselines. A new business unit will be created within Dong-A to manage the collaboration. Christophe Weber, Senior Vice President & Regional Director of Asia Pacific, GlaxoSmithKline said: "With Dong-A's market-leading position and expertise in Korea, this alliance presents a significant opportunity for GSK to extend its commercial footprint and build operational scale in this fast growing Asian market."