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Deals

GSK said to be in talks with Qualcomm to form JV: Bloomberg

A jogger runs past a signage for pharmaceutical giant GlaxoSmithKline (GSK) in London April 22, 2014. REUTERS/Luke MacGregor

(Reuters) - Pharmaceutical group GlaxoSmithKline Plc GSK.L is said to be in discussions with chipmaker Qualcomm Inc QCOM.O to form a joint venture as GSK looks for ways to develop medical technology, Bloomberg reported on Wednesday.

The talks are at an initial stage and nothing has been decided, people familiar with matter told Bloomberg. (bloom.bg/1UbZkSK)

GSK declined to comment, while Qualcomm was not immediately available for comments.

Earlier this month, Qualcomm said it was collaborating with Novartis AG NOVN.VXNVS.N to develop an inhaler for patients suffering from chronic obstructive pulmonary disease.

Reporting by Amrutha Penumudi in Bengaluru; Editing by Maju Samuel

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