GSK sells consumer brands to fund pharma investment
London-listed drugmaker GlaxoSmithKline (LSE: GSK) has divested its Horlicks brand and other consumer healthcare nutrition brands to Unilever, as part of a previously-announced strategic overhaul.
The firm also proposes to merge its GSK India consumer healthcare business with Hindustan Unilever, after which GSK will own approximately 5.7% of the new entity, which it will gradually sell off.
The strategic restructuring will bring in approximately £3.1 billion ($4 billion) for the company.
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