* Buying Argentina’s Laboratorios Phoenix in cash deal
* Acquisition reinforces build-up in emerging markets
(Adds background on strategy)
LONDON, June 10 (Reuters) - GlaxoSmithKline GSK.L stepped up its drive into emerging markets on Thursday with the acquisition of Argentina's Laboratorios Phoenix for $253 million.
The cash transaction -- the latest in a string of deals in developing markets -- gives the British-based drugmaker a portfolio of branded generics covering therapeutic areas such as cardiovascular, gastroenterology, metabolic and urology.
Phoenix also brings Glaxo a factory near Buenos Aires, a primary care sales force and pipeline of additional branded generic medicines. (Reporting by Ben Hirschler; editing by Paul Sandle)
Our Standards: The Thomson Reuters Trust Principles.