Several global companies, including GlaxoSmithKline and Reckitt Benckiser, have expressed interest in bidding for the unit, which had sales of about $3.4 billion in 2016.
The company had posted a net profit of Rs 72.27 crore for the same period of the previous fiscal, GlaxoSmithKline Pharmaceuticals said in a BSE filing.
In Britain, where Horlicks is sold as a bedtime drink, the product has largely fallen out of favour and sales are very limited.
Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial intelligence (AI) to help streamline the drug discovery process.
Hussain had been seen as a potential contender to take over from Chief Executive Andrew Witty, who steps down at the end of March, but the job went to GSK's consumer health division boss Emma Walmsley.
Shingrix is viewed by analysts as among the British company's most promising experimental products, since it has shown greater protection among older recipients than Merck & Co's rival shot Zostavax.
Walmsley, who joined Britain's biggest drugmaker in 2010 from L‘Oreal, will replace Andrew Witty who had previously announced his decision to retire on March 31, 2017.
The two firms, which have a long history of working together, said on Monday that Aspen would pay 180 million pounds for the products Ultiva, Nimbex, Tracrium, Mivacron and Anectinein, plus up to 100 million pounds in milestone payments.
The tie up between the drug maker and Verily, the health subsidiary of Google's parent company Alphabet, will focus on treatments for people living with the chronic disease.
The second annual 'Change the World' list is topped by UK's GlaxoSmithkline, followed by Israel-based IDE Technologies and American conglomerate General Electric at the second and third positions, respectively.
Verily Life Sciences - known as Google's life sciences unit until last year - and Britain's biggest drugmaker will together contribute 540 million pounds (USD 715.12 million) over seven years to Galvani Bioelectronics, they said on Monday.
British drugmaker GlaxoSmithKline said today that chief executive Andrew Witty will retire in 2017 after almost 10 years at the helm.
Axis Securities is bearish on GlaxoSmithKline and has recommended sell rating on the stock with a target price of Rs 2450 in its research report dated February 12, 2016.
"Today's decision sends out a strong message that we will tackle illegal behavior that is designed to stifle competition at the expense of customers in this case, the (National Health Service) and, ultimately, taxpayers," said Michael Grenfell, the authority's executive director for enforcement. marketplace.
Shares in Britain's biggest drugmaker has underperformed the European drugs sector by nearly 40 percent in the past five years, following past profit disappointments and a damaging corruption scandal in China.
"Glenmark Pharmaceuticals Europe today has entered into a strategic development & licensing agreement with Celon Pharma SA to develop and market a generic version of GlaxoSmithKline's Seretide Accuhaler product - Fluticasone / Salmeterol dry powder Inhaler in Europe upon commercialisation," the pharma company said in its filing.
GlaxoSmithKline Pharmaceuticals Ltd. (‘GSK India’) announces completion of its transaction with Novartis Healthcare Pvt. Ltd. ...
Brokerage Bank of America Merrill Lynch (BoAML) feels the launch of asthma drug by Mylan in the UK is negative for Cipla because earlier the drug maker was expected to be the first company to launch this drug. Shares of Cipla fell nearly 2 percent in early trade Tuesday.
The trial, which began on Sept. 2 and will monitor the volunteers for 48 weeks, is primarily aimed at assessing how safe the vaccine is. But the immune response offered hope that it would also be effective.
NSE FinWiz at GlaxoSmithKline (GSK) Pharmaceuticals, Mumbai to gauge financial planning thoughts and notions of the young employees on investments and financial planning.
Investors have been increasingly willing to dip into stocks with no new negative developments in Ebola, a steadying of oil prices, and the sense that the Federal Reserve will not move to raise rates quickly even as it ends bond buying.
Playing mentor to our SME and midsized company on this episode of Emerging India Awards jointly hosted by ICICI Bank is Dr. Hasit Joshipura, Senior Vice-president South Asia and MD India of GlaxoSmithKline Pharmaceutical. He discussed the trends in the Indian pharma industry and the role of SMEs.
The US Chamber of Commerce on Friday called on the government to ratchet up pressure on India over intellectual property rights, in a move that could help prevent Indian companies from producing cheap generic versions of medicines still under patent protection.
The Indian pharma sector, estimated to be around Rs 1.5 lakh crore, recorded single digit growth for the first time in several years on account of deeper price cuts under pricing policy and selective boycott of companies by the retailers.