GlaxoSmithKline has no plans to delist Indian arm - exec

MUMBAI Mon Nov 26, 2012 11:13am IST

Related Topics

Stocks

   

MUMBAI (Reuters) - GlaxoSmithKline Plc (GSK.L) has no plans to delist its Indian consumer products arm GlaxoSmithKline Consumer Healthcare Ltd (GLSM.NS), David Redfern, chief strategy officer at Britain's biggest drugmaker, said on Monday.

GSK said earlier it planned to buy up to an additional 31.8 percent stake in the Indian unit for 52.2 billion rupees.

The company has been expanding into both emerging markets and non-prescription consumer health - and in some cases a combination of the two.

The company, which plans to launch new variants of the flagship Horlicks brand in India, is looking to increase penetration of the product in the north and western regions of the country, Redfern said. (Reporting by Kaustubh Kulkarni; Editing by Subhranshu Sahu)

FILED UNDER:

Reuters Showcase

GDP Growth

GDP Growth

India revises up 2013/14 GDP growth to 6.9 percent.  Full Article 

Pharma Deal

Pharma Deal

Sun Pharmaceutical wins U.S. approval to buy Ranbaxy  Full Article 

Adani Restructuring

Adani Restructuring

Adani hives off power, ports businesses to boost growth.  Full Article 

Bank of Baroda

Bank of Baroda

Q3 net profit down 69 pct on higher provisions  Full Article 

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Banking Sector

Banking Sector

Banks say no room to cut lending rates, thwarting RBI easing  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage