More signs that Big Pharma is determined to further expand its footprint in emerging markets, with GlaxoSmithKline on Monday inking two new deals worth more than £650m ($1bn) in India and Nigeria.
The transactions – which will see the UK-based pharmaceuticals group increase its stake over two of its leading subsidiaries – are noteworthy. Whereas most of the industry’s past M&A efforts in EMs have been focused on securing new drugs and generics, GSK’s latest move is aimed at strengthening its presence in the consumer healthcare product space. Read more
Small companies in Nigeria rejoice! A formal exchange for over-the-counter (OTC) trading is set to open in the country next month, a move that should create greater liquidity for small companies and more transparency for investors looking to invest in unlisted securities. The National Association of Security Dealers (NASD), initially set up as an association of stockbrokers, is behind the new platform.
OTC trades are those conducted through dealer networks rather than central exchanges, a route usually used by smaller companies and those that don’t meet listing requirements. Read more