Rhone-Poulenc sells non-core assets

Article Abstract:

French concern Rhone-Poulenc is seeking acquisitions in a range of key areas, including veterinary products, healthcare and agro-chemicals. It is also making some divestments, and has already sold its European acetics operations to Acetex of Canada, part of a programme of moving away from low-margin basic chemicals. Rhone-Poulenc Rorer has sold its consumer medicine activities in North America to Ciba, and Rhone-Poulenc is selling its 43$ stake in Lipha to E Merck of Germany.

All Other Basic Organic Chemical Manufacturing, Industrial organic chemicals, not elsewhere classified, Acetic Acid, Mergers, acquisitions and divestments, Chemical industry, Rhone-Poulenc S.A.

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Glaxo taps syndicated loan market

Article Abstract:

UK pharmaceutical concern Glaxo will fund its takeover bid for Wellcome, worth at least 9 billion pounds sterling, through a loan set up by 10 banks. The banks will receive 20 basis points over Libor, along with 10 basis points over Libor for the unused part for the three-year multi-currency revolving credit and an arrangement fee of 7. 5 basis points. The deal was arranged very quickly, with Glaxo benefiting from the liquidity of the syndicated loan market.

Finance, Glaxo

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Pharma deals to continue

Article Abstract:

Consolidations in the European pharmaceutical industry looks set to continue, although those in the pipeline are on a relatively small scale. However, industry watchers believe that the larger players will enter the fray eventually. The industry's streamlining is aimed at allowing corporations to build on their R&D expertise, expand their product ranges and divest non-core units in order to gain a technological edge in the increasingly competitive market.

Management

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