GSK rejects idea of buying AstraZeneca

LONDON Thu May 3, 2012 10:24am EDT

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LONDON May 3 (Reuters) - Britain's biggest drugmaker GlaxoSmithKline has no interest in buying its smaller British rival AstraZeneca, GSK's chief executive said on Thursday.

AstraZeneca's future is in flux, following the planned early exit of its CEO David Brennan from June 1, leading some analysts to speculate it might become a takeover target.

GSK CEO Andrew Witty, however, told shareholders at the company's AGM that buying a big company like AstraZeneca would be "very distracting".

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