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GSK uses negotiation skill to take sole ownership of GSKNB

The pharmaceutical company has bought Shenzhen Neptunus Interlong Bio-Technique's 51 per cent stake in GSKNB.

14 June 2011

Negotiation strategies have ensured that GlaxoSmithKline (GSK) has completed its takeover of Shenzhen Neptunus Interlong Bio-Technique stake in their previously joint venture.

The total cost of the deal is £24 million and it means once it has been given approval, it will be sole owner of Shenzhen GSK-Neptunus Biologicals (GSKNB).

Jean Stephenne, chairman and president GSK Biologicals, said the move was important as it looks to expand its business in China.

"GSKNB employees have made good progress preparing the site for the production of influenza vaccines and we look forward to continuing this work," he added.

Various negotiation techniques may have been used to get the final agreement and Mr Stephenne said the scheme will "improve public health".

GSK - which is a leading research-based pharmaceutical and healthcare company - spends some £300,000 every hour in an effort to find new medicine for six major disease areas - asthma, infections, virus control, diabetes, mental health and digestive conditions.

Posted by David Gleck

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