GSK looks to sell older drugs to buyout firms


medddGlaxoSmithKline (GSK) is reportedly looking to sell a range of its older drugs to private equity firms.

The pharmaceutical giant has invited private equity firms including Advent, Blackstone and KKR to consider making offers for its drugs, said Reuters, citing three people with direct knowledge of the matter.

GSK is in no rush to sell the 50 or so older medicines and has plans to retain rights to most of the products in emerging markets, a source told Reuters.

The company is being advised by Lazard on the sale, which is in line with its plans to reshape its business.

Last year GSK launched a $50m venture capital fund to invest in bioelectronic medicines and technologies.

Action Potential Venture Capital is expected to back five to seven businesses during its five year investment period.

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