GSK gains rights to UCB drugs in various countries

LONDON GlaxoSmithKline will acquire rights to drugs made by UCB in certain foreign countries, the British drug maker announced Friday.

GSK will acquire rights to drugs such as the epilepsy treatment Keppra (levetiracetam) and allergic rhinitis drugs Xyzal (levocetirizine dihydrochloride) and Zyrtec (cetirizine) in markets in Africa, the Middle East, Asia Pacific and Latin America for $675.7 million. The deal excludes mainland China -- though not Taiwan -- South Korea, India, Australia, Mexico, Brazil and Malta. Completion of the acquisition will likely happen in March. 

"As part of our strategy to grow and diversify GSK's business, we are continuing to make new investments in emerging markets," GSK president emerging markets Abbas Hussain said in a statement. "This acquisition will strengthen and expand GSK's product portfolio in these countries, helping us to meet the needs of patients, particularly in the areas of epilepsy and respiratory."