GSK opts to sell off Lucozade and Ribena drink brands
LONDON, April 24
LONDON, April 24 (Reuters) - GlaxoSmithKline has decided to sell its popular soft drink brands Lucozade and Ribena in a disposal that could bring in more than 1 billion pounds ($1.5 billion).
The move was announced on Wednesday alongside weak first-quarter results, which saw sales at Britain's biggest drugmaker drop 3 percent from a year ago.
GSK launched a strategic review of the two brands earlier this year, ruling nothing in or out for their future. Most analysts had focused on the idea of a sale, which is likely to attract interest from private equity and trade buyers.
- Air strike kills 15 civilians in Yemen by mistake: officials
- Pope attacks mega-salaries and wealth gap in peace message
- North Korea says Jang Song Thaek, uncle of leader Kim Jong Un, executed
- Probation for drunk Texas teen driver who killed four sparks backlash
- Atheists face death in 13 countries, global discrimination: study