GlaxoSmithKline

(GSK) - Get Report

is reportedly in talks to acquire a majority stake in

Bayer's

drug division.

Bayer has been trying since last winter to find a partner for the pharmaceuticals segment and already has a few marketing deals in place with Glaxo. Last week, Bayer's CEO dropped a longstanding refusal to assume a minority role in any partnership, a move that let the discussions with Glaxo proceed,

The New York Times

reported.

Such a partnership would allow Glaxo to consolidate the earnings from drugs it jointly markets with Bayer on its income statement, a move that could help boost results at a time when it has few potential blockbusters in the pipeline.

The talks remain at an early stage and no agreement is likely to be announced soon, the

Times

reported.