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Glaxo Wellcome and SmithKline Beecham have won approval from the European Commission for their merger, provided they dispose of products with EU sales of £50m.
Glaxo Wellcome is to merge with SmithKline Beecham to create a combined pharmaceuticals group with market capitalisation of £107bn, and the operational headquarters will be moved to the US.
Glaxo Wellcome has resumed negotiations for a merger with SmithKline Beecham, which could lead to the creation of the world's largest pharmaceuticals group.
Glaxo Wellcome and SmithKline Beecham are planning a £100bn merger to create the largest pharmaceuticals company in the world, thereby putting an end to SmithKline's plans to merge with American Home Products.
Glaxo Wellcome is acquiring an 80% stake in Polfa Poznan, the Polish drugs company, for £132m as part of a strategy to expand in emerging markets.
Glaxo Wellcome is acquiring full control of Nippon Glaxo, its joint venture with Shin Nihon Jitsugyo, for £360m.
Glaxo Wellcome is selling its stake in Warner Wellcome to Warner Lambert for $1.05bn.
Glaxo is looking for a buyer for Hazeline, its East Asian cosmetics operation.