GlaxoSmithKline Announces 'Strategic Review' Of Horlicks Brand
GlaxoSmithKline is to undertake a 'strategic review' of its Horlicks brand, as well as its other consumer healthcare nutrition products, to support funding for the purchase of Novartis' stake in a Consumer Healthcare Joint Venture.
GSK said that it has reached agreement with Novartis for the 36.5% stake, which is valued at $13 billion.
The Consumer Healthcare Joint Venture was formed as part of a three-part transaction between GSK and Novartis, which was approved by shareholders in 2014.
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