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GlaxoSmithKline has no plans to delist Indian arm - executive
MUMBAI |
MUMBAI (Reuters) - GlaxoSmithKline Plc has no plans to delist its Indian consumer products arm GlaxoSmithKline Consumer Healthcare Ltd, 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 ($939 million).
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)
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