Glaxo bid 'reflects changing patterns of drugs research.'

Glaxo, the international drug giant based in the UK, announced its plans of acquisition of its rival company, Wellcome plc. Glaxo officials say that the joint venture called Glaxo Wellcome will increase drug research and introduce innovative products in the global market. Despite job losses, biomedical research will greatly benefit from the gaining of 40% shares in Wellcome by Glaxo.