GSK invites private equity bids for older drugs -sources

LONDON Thu May 29, 2014 11:12am EDT

LONDON May 29 (Reuters) - GlaxoSmithKline has invited private equity firms to consider making offers for a range of its older drugs, according to two people with direct knowledge of the matter.

The move is part of a reshaping of the drugmaker's business, which also involves a major asset swap deal with Novartis .

Chief Executive Andrew Witty said last month that Britain's biggest pharmaceuticals company could dispose of individual medicines or a broader portfolio of older established products. A GSK spokesman had no further comment on potential disposals on Thursday. (Reporting by Ben Hirschler; editing by Jon Boyle)