Drug merger valued at $76 billion
Monday, Jan. 17, 2000 | 12:08 p.m.
LONDON -- The British pharmaceutical company Glaxo Wellcome PLC plans to buy rival SmithKline Beecham PLC for about $76 billion in stock in a long-anticipated deal announced today that would create the world's largest drugmaker.
Today's deal follows last week's emergence of Pfizer Inc. as the likely winner in the battle for U.S. drugmaker Warner-Lambert Co. Pfizer beat out American Home Products Corp. for Warner-Lambert.
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