Paul Hastings Reps Korean Drug Co. In $126M GSK Deal

Law360, New York (May 11, 2010, 12:08 PM EDT) -- GlaxoSmithKline PLC announced Tuesday it would pay KRW142.9 billion ($125.9 million) for a stake in South Korean drugmaker Dong-A Pharmaceuticals Co. Ltd., in an effort to expand into the Asian pharmaceutical market.

The U.K. pharmaceutical giant agreed to buy 9.9 percent of the equity in Dong-A, South Korea's largest drug manufacturer, according to a GlaxoSmithKline filing with the U.S. Securities and Exchange Commission.

GlaxoSmithKline said the collaboration would give the company a chance to further capitalize on the expanding South Korean pharmaceutical market, the 13th-largest in...
To view the full article, register now.