GSK Buys Nanjing MeiRui Pharma for $70 Million

GlaxoSmithKline will pay $70 million to purchase Nanjiing MeiRui Pharma, a company with natural products that treat urology and allergy conditions. In recent years, GSK has been very active in making deals that increase its presence in emerging markets. With the acquisition, GSK gains a company that has established relationships with urologists, which it will use to market Avodart, its own treatment for benign prostatic hyperplasia (enlarged prostate). More details.... Stock Symbol: (NYSE: GSK)