GlaxosmithKline, a leading global drug maker has pruned its growth strategy for India. Despite having cash surplus of Rs 1670 crore it now prefers to wait for valuations to become realistic before going ahead with acquisition of local firms and instead will now seek to collaborate them.

GSK, which signed 12 partnership deals last year, currently has supply arrangements with the Strides Arcolab-Aspen joint venture and Dr Reddy's Labs for emerging markets and more such could be on way. Besides, assembling a bigger portfolio of drugs in India, a further thrust on its line of vaccines, the company's fastest growing unit in India is also on the charts. Glaxo plans to launch a pediatric pneumococcal vaccine and six component vaccines in India this year, besides other generic launches.

Meanwhile, as GSK India invests to become a sourcing hub for its big daddy, its India growth story is waiting to take that leap once it zeros in on an acquisition target, which may face competition as global majors like Pfizer are also scanning the market for opportunities.