Glaxo May Buy Large Stake in Generic-Maker Aspen: Report

GlaxoSmithKline is reportedly in talks to buy a large stake in South African drug maker Aspen Pharmacare.
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GlaxoSmithKline

(GSK) - Get Report

is reportedly in talks to buy a large stake in generic-drug maker

Aspen Pharmacare

.

According to a report published Wednesday on the

Financial Times

' Web site, Glaxo may soon buy 10% of South Africa-based Aspen to bolster the U.K. drugmaker's sales in foreign and emerging markets.

The reported negotiations closely follow

rumors

that Glaxo might be eying Botox maker

Allergan

(AGN) - Get Report

as an acquisition.

Glaxo shares were recently up 1.3% to $29.70.