Britain’s biggest drugs
company increased its stake from 50.7 per cent to 75 per cent in
GlaxoSmithKline Pharmaceuticals, which will remain publicly listed.
The 90-year-old Indian
business has two manufacturing plants and a clinical development centre,
employing more than 3,500 people.
Its products include
prescription medicines in areas such as diabetes, oncology and respiratory
diseases. It also offers a range of vaccines for the prevention of the likes
of hepatitis, chicken pox, diphtheria and cervical cancer.
The investment follows the
£550million it paid just over a year ago to lift its stake in another Indian
spin-off, GlaxoSmithKline Consumer Healthcare.
Source:http://www.express.co.uk/finance/city/464175/GlaxoSmithKline-spices-things-up-with-625m-Indian-deal
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