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GlaxoSmithKline to Acquire Genelabs Technologies to Increase Focus on Novel Small Molecule Therapies for Hepatitis C
Date:10/29/2008

gy companies. The ID CEDD currently consists of three discovery units for antivirals, antibacterials and medicines against diseases of the developing world. It focuses on building an innovative pipeline through both internal efforts and external alliances with other companies and research institutions. Its Infectious Diseases Centre of Excellence for External Drug Discovery (ID CEEDD) will focus on 'virtualising' a portion of the infectious diseases pipeline by forming multiple risk-sharing/reward-sharing alliances.

About Genelabs Technologies

Genelabs is a biopharmaceutical company focused on the discovery and development of novel compounds for infectious diseases. In addition to a late- stage drug candidate for hepatitis E partnered with GSK, the company is advancing multiple partnered and proprietary compounds designed to selectively inhibit replication of the hepatitis C virus. For more information, please visit http://www.genelabs.com.

Cowen and Company was the exclusive financial advisor to Genelabs in this transaction.

Cautionary statement regarding forward-looking statements

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk Factors' in the 'Business Review' in the company' s Annual Report on Form 20-F for 2007.

Important additional information will be filed with the Securities Exchange Commission (SEC).

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Genelabs. The tender offer for shares of Genelabs' stock described in this press release has not yet been comme
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SOURCE GlaxoSmithKline
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