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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.

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