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Blackstone Bids For GSK Drug Portfolio

Blackstone Group has submitted a bid for GlaxoSmithKline’s consumer drug portfolio.

Blackstone Group has submitted a bid for GlaxoSmithKline’s (GSK) consumer drug portfolio, The Wall Street Journal reports. The firm teamed up with the U.S. over-the-counter drug company Prestige Brands to submit the bid.

Goldman Sachs Group is running the sale of the business, which is valued at between £1.5 billion and £2 billion. Buyout firm Bain Capital and some trade buyers have also put in bids for the unit.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

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