Bloomberg: GlaxoSmithKline, Qualcomm To Jointly Develop Medical Technology

According to Bloomberg, GlaxoSmithKline plc (ADR) (NYSE: GSK) and QUALCOMM, Inc. (NASDAQ: QCOM) are discussing ways to combine both companies expertise and create advances in medical technology.

Bloomberg, citing "people with knowledge of the matter," noted that GlaxoSmithKline isn't the first drugmaker to cooperate with a technology company to improve its medical products.

Meanwhile, Qualcomm announced earlier this month it plans on expanding a partnership with Novartis AG (ADR) (NYSE: NVS) to improve data aggregation on clinical trials and develop "Internet-of-things connectivity" for its inhalers.

Shares of GlaxoSmithKline were trading lower by 2.30 percent at $38.38 mid-Wednesday afternoon, while shares of Qualcomm were also lower by 2.43 percent at $44.97.