Acquisition Completed

GlaxoSmithKline PLC
16 January 2001





           GlaxoSmithKline Completes the Purchase of Block Drug for

                                $1.24 Billion


    Acquisition expands GlaxoSmithKline's presence in oral healthcare and
                          over-the-counter medicines



GlaxoSmithKline plc (GSK) today announced the successful completion of its
acquisition of Block Drug Company, Inc., the manufacturer of Sensodyne
toothpaste and other oral healthcare and consumer products, for $1.24 billion.


'This acquisition will significantly enhance our Consumer Healthcare business,
putting GSK among the top three consumer healthcare companies in the world,
and number two in oral healthcare' said Jean-Pierre Garnier, Chief Executive
Officer, GlaxoSmithKline.


The Block Drug portfolio of oral healthcare and over-the-counter (OTC)
products is expected to add approximately $900 million in annual sales to
GSK's global oral healthcare and OTC businesses, increasing GSK's consumer
healthcare sales to nearly $5 billion. In addition to Sensodyne, Block Drug's
products include Polident/Corega denture cleansers, Poli-Grip/Corega denture
adhesive, and a number of other OTC brands.


Block Drug has geographic sales well balanced across North America, Europe and
International markets, including Japan. With operations in over 100 countries,
the company employs approximately 3,000 people in R&D, sales and marketing,
manufacturing and distribution.


GlaxoSmithKline's pro forma consumer healthcare sales for the first half of
2000 were £1.3 billion, approximately 15 per cent of the group's total sales.
With Block Drug, GSK has 12 brands with annual sales over $100 million and
household brand names in 130 countries. Oral healthcare brands include
Aquafresh and Odol. Other key products include the smoking cessation brands:
Nicorette, Nicoderm CQ and Niquitin CQ, Tums antacid, Panadol analgesic and
the Ribena, Lucozade and Horlicks nutritional drinks.


GlaxoSmithKline - one of the world's leading research-based pharmaceutical and
healthcare companies - is committed to improving the quality of human life by
enabling people to do more, feel better and live longer.


Approximately 14,319,496 shares of Class A common stock (including 174,556
shares tendered by guaranteed delivery) and 8,671,372 shares of Class B common
stock, or approximately 98.5 per cent and 100 per cent, respectively, of the
Class A and Class B common stock of Block Drug were validly tendered prior to
the expiration of the tender offer at 5:00 p.m., New York City time, on Friday
12th January 2001, and were accepted for payment. In accordance with the terms
of the merger agreement with Block Drug, SB Acquisition Corp. will merge into
Block Drug, and each share of Block Drug common stock not previously purchased
in the tender offer will be converted into the right to receive the same
$53.00 per share price as offered in the tender offer.




S M Bicknell

Company Secretary


16 January 2001




Enquiries:

UK Media enquiries                      Martin Sutton        [phone]

                                        Philip Thomson       [phone]

                                        Alan Chandler        [phone]
                                        Neil McCrae          [phone]

US Media enquiries                      Jeremy Heymsfeld     [phone]

                                        Mary Anne Rhyne      [phone]

European Analyst/Investor enquiries     Jennie Younger       [phone]
                                        Duncan Learmouth     [phone]
                                        Joan Toohill         [phone]

                                        Anita Kidgell        [phone]

US Analyst/ Investor enquiries          Frank Murdolo        [phone]

                                        Tom Curry            [phone]
                                                             [phone]
                                        Jennie Younger

Website address                         www.gsk.com







This press release contains forward-looking statements. GlaxoSmithKline
cautions investors that such statements are subject to risks and uncertainties
that may cause actual results to differ materially from those projected.