Belfast Telegraph

Glaxo agrees to buy Chinese firm

PHARMACEUTICAL giant GlaxoSmithKline has entered into an agreement to acquire Chinese firm Nanjing MeiRui Pharma for $7m (£44m). MeiRui focuses on urology and allergy products. The acquisition is part of the FTSE 1 company's expansion into the Chinese market, which it described as "one of the fastest-growing and most significant of emerging markets".