Glaxo-Wellcome Merger Passes U.S. Scrutiny: Glaxo's $14.3-billion deal with rival British drug maker Wellcome received antitrust clearance from the Federal Trade Commission. The new Glaxo-Wellcome will be the world's largest pharmaceutical company, with annual sales of $12.7 billion and a 5.3% market share. The FTC's approval is conditional on Glaxo divesting itself of a migraine drug it has under development.
Times Staff and Wire Reports
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