GSK seeks bids by mid-Sept for its health nutrition biz

nutrition biz

GlaxoSmithKline (GSK) has requested bids by mid-September for its $4.3-billion Indian consumer-health unit, which owns the popular malted milk brand Horlicks

GSK has sent out an information memorandum with preliminary details about the business to potential suitors.


The sale has attracted interest from potential bidders including NestlePepsiCo and Reckitt Benckiser Group. 

GSK has announced in March that it aims to complete a strategic review of Horlicks and other nutritional products by the end of this year.


The company is assessing its 72.5% holding in India-listed GSK Consumer Healthcare as part of that process.


Proceeds from a potential sale could be used to finance GSK’s $13-billion buyout of Novartis’ stake in their consumer-health joint venture.

GSK’s review of assets includes its 82% stake in the Dhaka-listed GSK Bangladesh, as well as marketing rights to some consumer-health brands in other emerging economies.


There’s no certainty the deliberations will lead to a transaction, and the parent company may yet decide to keep the businesses.


Shares of GSK Consumer Healthcare have advanced almost 10% in Mumbai trading this year, giving it a market value of Rs 29,900 crore ($4.3 billion). 

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