Rameda Pharmaceutical expresses its desire to acquire GlaxoSmithKline


Cairo – Mubasher: The Tenth of Ramadan Company for Pharmaceuticals and Diagnostic Preparations-Rameda said that it submitted a non-binding letter of intent to participate in the bids submitted to acquire GlaxoSmithKline, a subsidiary of the Glaxo Group Ltd. Glaxo Egypt.

The company added in a statement to the Egyptian Stock Exchange today that it intends to conduct a comprehensive examination of due diligence regarding the legal, commercial, financial, operational and organizational aspects of the company targeted for its acquisition, which is expected to form the basis for exchanging discussions on the deal.

During the first half of 2020, the company achieved profits amounting to 43.47 million pounds during the six months ending last June, compared to 20.6 million pounds in the comparative period of 2019.

The company’s revenues fell to 437.46 million pounds by the end of June, compared to 384.3 million pounds as revenues during the same period last year.

And Glaxo Smithkline achieved, for the first 9 months of this year, a net profit of 101.41 million pounds since the beginning of January until the end of last September, compared to 67.03 million pounds during the same period last year.

The company’s sales increased during the nine months to reach about 1.42 billion pounds by the end of September, compared to 1.19 billion pounds during the same period last year.


Rameda’s pharmaceutical profits double in the first half of 2020

GlaxoSmithKline’s profits grow 51% in 9 months


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