Glaxo take over creates largest drug company

BMJ 1995; 310 doi: (Published 18 March 1995) Cite this as: BMJ 1995;310:689

Last week, as a result of Glaxo taking over Wellcome, Britain became home to the world's largest drug company—Glaxo Wellcome—but thousands of jobs are likely to be lost in the pharmaceutical industry as a result.

The failure of a potential “white knight,” rumoured to be Zeneca, to persuade the Wellcome Trust to accept a counter offer for its Wellcome shares left the way clear for the hostile takeover. Wellcome's board was left with no option but to recommend that shareholders should accept the offer put forward by Sir Richard Sykes, chief …

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