GSK Investing US$2.5mn In Proteologics

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Israeli generic drugmaker Teva has received a US$2.5mn investment offer from GlaxoSmithKline (GSK) into Proteologics, which accounts for 7% of its shares. GSK has decided to pay in instalments based on the progress made by Proteologics over a three-year period. BMI notes that GSK's interest in the innovative arm of Teva signals a drive to boost its own product offering without entering into an acquisition. The deal gives GSK flexibility and owing to the progressive nature of the payments, will provide Proteologics with targets and incentives to remain