GSK raises stake in Indian consumer unit
GlaxoSmithKline has lifted its stake in its publicly-listed Indian consumer healthcare subsidiary to 72.5 percent from 43.2 percent, deepening its footprint in emerging markets and non-prescription products.
February 05, 2013 / 15:34 IST
GlaxoSmithKline has lifted its stake in its publicly-listed Indian consumer healthcare subsidiary to 72.5 percent from 43.2 percent, deepening its footprint in emerging markets and non-prescription products.
David Redfern, GSK's chief strategy officer, said on Tuesday the 568 million pounds Indian transaction would "further increase our exposure to a key emerging market".
Britain's biggest drugmaker announced plans to acquire larger holdings in both its Indian and Nigerian consumer product businesses in November.
GSK, Biological E to form JV for developing polio drugFestive demand, benign input costs to boost FMCG Cos in Q3 Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
