GlaxoSmithKline sold its stake in Unilever over 3.35 billion dollars

Company GlaxoSmithKline sold its stake in the Indian business Unilever, generated 3.35 billion dollars. Money the pharmaceutical company is likely to invest in the development of experimental drugs, writes FiercePharma.

In December 2018 GlaxoSmithKline received 5.7% of Hindustan Unilever as payment for selling their brand of malt drink Horlicks and other products of Unilever.

The sale of shares in Unilever, GlaxoSmithKline became an important step to withdrawal from the market of OTC drugs and consumer products. Previously, GlaxoSmithKline and Pfizer announced the merger of their consumer healthcare businesses into a single joint venture. Controlling stake in the merged company will be owned by GSK (68%), share of Pfizer will be 32%.

Leave a Reply

Your email address will not be published. Required fields are marked *

Releated

For the six months Kurgan “Synthesis” increased revenue by 42%

Revenue of JSC “Sintez” (part of the Allium Group) for 6 months of 2020 has increased by 42% year-on-year to 6,767 billion. Net profit reached 752.9 million roubles that on 23% more than in the same period last year. Export sales grew by 36% year-on-year, exceeding 1 billion rubles, told in the company. Secondary sales […]

Russia confirmed on 5 065 new cases COVID-19

In recent days in Russia identified 5 065 new cases of coronavirus in 83 regions. Died 114 people, fully recovered 6 568 patients. In Moscow confirmed 688 new cases of coronavirus. The average rate of increase of new cases for the first two weeks of August is 0.28%. This figure compares with the first two […]