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The Glaxo/SmithKline Debacle: Unanswered Questions

Executive Summary

The proposed merger of SmithKline Beecham and Glaxo Wellcome PLC sent waves of anxiety when it was announced--and relief when it was canceled. The deal ran aground because of disagreements over who would run the company. But the larger questions it raised--about the need for greater critical mass in R&D and the likelihood of future mergers--won't go away so easily.
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