* Buys generics business in 5 countries for $23.2 million
* Part of Glaxo strategy to build emerging markets
* Follows last year's deal to buy Bristol's Egypt unit
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LONDON, July 2 (Reuters) - GlaxoSmithKline expanded its emerging markets footprint on Thursday by buying Bristol-Myers Squibb's branded generics drugs business in Lebanon, Jordan, Syria, Libya and Yemen for $23.2 million.
The cash deal follows the British drugmaker's 2008 purchase of Bristol's mature medicines business in Egypt and underlines the strategy goal of Chief Executive Andrew Witty of making Glaxo a leading player in branded generics in developing countries.
The new acquisition comprises a portfolio of 13 branded pharmaceuticals with annual sales of $11.8 million in 2008.
Last month, Glaxo took another significant step in emerging markets by clinching a deal with Indian generic drugmaker Dr Reddy's Laboratories, giving it access to Dr Reddy's portfolio and future pipeline of more than 100 drugs.
Glaxo also has a collaboration with South Africa's Aspen focused on emerging markets and has signed a deal with China's Shenzhen Neptunus for flu vaccines.
Witty has made growth in emerging markets a top priority for the world's second largest drugmaker and is targeting generic medicines, which can be sold as brands in poorer countries.
Drug sales in emerging markets are expected to grow at a mid-teens percentage rate through 2013, against low single-digits for mature markets, according to IMS Health, the leading tracker of prescription drug data. (Reporting by Ben Hirschler; editing by Simon Jessop)