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Wellcome waits for white knight

BMJ 1995; 310 doi: (Published 04 February 1995) Cite this as: BMJ 1995;310:283

The future of the drug company Wellcome hangs in the balance this week as the company's board seeks a “white knight” bidder that can better Glaxo's pounds sterling8.9bn offer. John Robb, chairman and chief executive of Wellcome, said that the bid had undervalued his company, which had hidden wealth in the form of new products. To underline this position Wellcome brought forward the launch of a new antiviral treatment for herpes, valcyclovir, the successor to its best seller acyclovir. The drug received regulatory approval in Britain and Ireland last week and was launched on Monday. On the same day the company said that it would bring forward publication of its annual results …

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