Drugs giant GlaxoSmithKline has boosted its portfolio with a £297.5 million deal for two treatments for acute heart disease.

The group, which has a manufacturing base in Crawley, has struck a deal with Sanofi-Synthelabo to buy injectable drugs Fraxiparine and Arixtra.

But the acquisition hinges on Sanofi emerging victorious in its hostile £33.1 billion bid for larger rival Aventis, launched in January this year.

Sanofi has agreed to sell the drugs to placate regulatory concerns over the takeover which would make it one of the world's top three pharmaceutical firms.

Speculation is mounting that a bidding war for Aventis could break out and that could scupper Glaxo's acquisition of the two treatments. Swiss drug maker Novartis has stated it is considering an offer for its rival.

A spokesman for GlaxoSmithKline said yesterday's deal would help build its position in the injectable drugs market, estimated to be worth £2.1 billion a year.

GlaxoSmithKline has suffered a slowdown in introducing new drugs to the market at a time when sales of many of its best-selling medicines are coming under pressure from generic copies.

Diparcil, a treatment for chronic heart disease, is in advanced clinical trials but is not due to go on sale until 2007.

Fraxiparine, which inhibits the formation of blood clots, generated sales of £209.3 million last year.

Sales of Arixtra, which prevents deep vein thrombosis in patients undergoing surgery, stood at £15.7 million. Glaxo will also take control of the manufacturing base for the drugs at Notre-Dame de Bondeville, near Rouen, and the 650 staff who work there.

Wednesday April 14, 2004