GSK Plans to Increase Stake in Indian and Nigerian Subsidiaries
GlaxoSmithKline announced its intent to increase ownership in its publicly-listed, consumer-healthcare subsidiary in India and in GlaxoSmithKline Consumer Nigeria as part of its emerging-markets investment strategy.
GlaxoSmithKline (GSK) announced its intent to increase ownership in GlaxoSmithKline Consumer Healthcare Ltd, its publicly-listed subsidiary in India, from 43.2% to up to 75% and, in a separate release, announced an agreement in principle on a proposal to increase ownership in GlaxoSmithKline Consumer Nigeria PLC from 46.4% to 80%. The offers represent the maximum possible stake allowed while maintaining a public listing in the respective countries and are part of GSK’s strategy to invest in emerging markets.
“GSK Consumer Healthcare is a well-established business in India, and its leading product, Horlicks, is an iconic household brand. This transaction represents a further step in GSK's strategy to invest in the world's fastest growing markets and, we believe, offers a liquidity opportunity at an attractive premium for existing shareholders," said David Redfern, GSK chief strategy officer, in the press release.
The transaction in India, valued at up to approximately $940 million, will be funded through GSK’s existing cash resources, will be earnings neutral for the first year and accretive thereafter, and will not impact expectations for the Group’s long-term, share-buyback program. Subject to regulatory clearance, the offer period is expected to begin in January 2013.
The board of directors of GSK Nigeria unanimously approved the proposal and intends to recommend it to shareholders. Under the terms of the deal, GSK would acquire approximately 321 million shares in the company on a pro rata basis from public shareholders for a total value of almost $98 million. The transaction in Nigeria will be funded through GSK’s existing cash resources, will be modestly earnings accretive immediately, and will not impact expectations for the Group’s long-term, share-buyback program. The proposal will be subject to requisite shareholder, regulatory, and court approvals including those of the Nigerian Stock Exchange and the Securities and Exchange Commission.
The Future of Cleanroom Construction: How Hybrid Solutions are Changing the Game
May 14th 2025Imagine a world where cleanroom facilities—essential for pharmaceutical manufacturing, biotechnology, and high-tech industries—are built with unparalleled speed, precision, and efficiency. That world is here, thanks to the hybrid construction approach. By blending traditional stick-built methods with modular and prefabricated solutions, companies are overcoming the limitations of conventional construction while ensuring compliance with stringent industry regulations. In this interview, we explore how hybrid cleanroom construction is transforming the industry, offering faster project timelines, improved quality control, and significant cost advantages. Join us as we delve into this game-changing approach with industry experts who are leading the charge in revolutionizing cleanroom infrastructure.
Mastering Antibody-Drug Conjugates
December 19th 2024In this episode, we explore BIOVECTRA’s capabilities in antibody-drug conjugate (ADC) manufacturing, from complex conjugation chemistry to synthesis of highly potent payloads. We’ll also showcase how BIOVECTRA’s extensive experience in complex chemistries and specialized small molecule manufacturing gives them a unique perspective, strengthening their approach to ADC production and ensuring clients receive custom solutions across all project stages.
Novartis Acquisition of Regulus Therapeutics is Complete
June 25th 2025A key property included in the acquisition is farabursen, an investigational next-generation oligonucleotide targeting the microRNA miR-17 with preferential kidney exposure, intended to treat people with autosomal dominant polycystic kidney disease.
