Glaxo thinks ROI By Eric Pierce
Staff Writer

Glaxo's planned purchase of $50 million in Affymetrix preferred stock is a pure investment play, according to both sides of the deal (B12). Glaxo already owns 33 percent of AFFX through its 1995 acquisition of AFFX's parent, Affymax, for $533 million. If the preferred converts, Glaxo's stake would increase to 38 percent.