Pharmaceutical Companies to Merge

Article

It is expected that Glaxo Wellcome and SmithKline Beecham will complete their merger on Dec.27, 2000-nearly a year after unveiling their plans to become a conglomerate.

The British drug groups are waiting for approval of the deal from the US Federal Trade Commission (FTC) before going in front of Britain's High Court next week for final clearance.

GlaxoSmithKline would become the largest pharmaceutical company worldwide by market share, controlling more than 7% of the world market. The first financial results to be reported by GlaxoSmithKline will be for the year ending Dec. 31 and will be announced in February.

The merger was expected to be complete last May; however, the FTC had questions about the companies' combined power in certain markets.

Information from The Wall Street Journal.

Related Videos
Patient Safety: Infection Control Today's Trending Topic for March
Infection Control Today® (ICT®) talks with John Kimsey, vice president of processing optimization and customer success for Steris.
Picture at AORN’s International Surgical Conference & Expo 2024
Infection Control Today and Contagion are collaborating for Rare Disease Month.
Rare Disease Month: An Infection Control Today® and Contagion® collaboration.
Vaccine conspiracy theory vector illustration word cloud  (Adobe Stock 460719898 by Colored Lights)
Rare Disease Month: An Infection Control Today® and Contagion® collaboration.
Infection Control Today Topic of the Month: Mental Health
Infection Control Today's topic of the month: Mental Health
Related Content