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 drug Festive demand, benign input costs to boost FMCG Cos in Q3
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