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GSK to Acquire Nanjing MeiRui Pharmaceuticals

Dec. 6, 2010

GlaxoSmithKline (GSK) announced on December 7, 2010 that it has entered into an agreement to acquire Nanjing MeiRui Pharma Co., Ltd (MeiRui) for a cash consideration of approximately $70 million in a move to further expand GSK’s presence in China.
MeiRui is a leading Chinese pharmaceutical business with a strong portfolio of urology and allergy products, including "Prostat" against benign prostatic hyperplasia and "Sheniting" against overactive bladder syndrome. GSK will gain access to this portfolio of products, as well as MeiRui’s established sales and marketing platform and a manufacturing facility in Nanjing City, Jiangsu Province.