Web Sify
Follow us on
Mail
Print

GSK lifts stake in Indian consumer unit to 72.5 %

Source : REUTERS
Last Updated: Tue, Feb 05, 2013 08:01 hrs
A broker monitors share prices at a brokerage firm in Mumbai

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 ($894 million) 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.


blog comments powered by Disqus
most popular on facebook
talking point on sify finance