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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Glaxo on the hunt for acquisitions

GlaxoSmithKline is on the hunt for acquisitions, it would appear. Consumer healthcare boss John Clarke said his division - whose products range from cold remedies to Lucozade - wanted to add on brands to boost its sales growth.

Clarke wants at least 10% sales growth in the future, he told Reuters today. The division had been touted as a spin off candidate, but Glaxo's new boss Andrew Witty seems keen to keep it, as a means of counterbalancing any slowdown in the core drugs business.

Overall the market has dipped slightly despite early gains on Wall Street. The FTSE 100 is now down 13.1 points at 5704.4.

BA watch: down 6.25p at 241p, well off its lows as things seem to improve slightly on day two of the Terminal 5 chaos. BAA owner Ferrovial is now down 2.23%.

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