Glaxo Seeks Bids Mid-September for $4 Billion India Sale


U.K. pharmaceutical giant GlaxoSmithKline Plc has requested bids by mid-September for its $4.3 billion Indian consumer-health unit, which owns the popular malted milk brand Horlicks, people with knowledge of the matter said.
Glaxo has sent out an information memorandum with preliminary details about the business to possible suitors, according to the people, who asked not to be identified because the information is private. The sale has attracted interest from potential bidders including Nestle SA, PepsiCo Inc. and Reckitt Benckiser Group Plc, they said.

Steady Growth

India’s malted drink sales posted an average 11% annual growth in the last decade

Source: Euromonitor International

Note: Horlicks, Cadbury Bournvita, Boost, Maltova and Viva lead India’s malted drink market

Representatives for Glaxo and Nestle declined to comment. Spokesmen for Reckitt and Pepsi had no immediate comment.

Shares of GlaxoSmithKline Consumer Healthcare have advanced nearly 9 percent in India trading this year, giving the company a market value of 299 billion rupees ($4.3 billion).
The Indian division’s brands include Boost, a malt-based drink that’s been endorsed by cricket legend Sachin Tendulkar, as well as Viva, a beverage that contains wheat and barley, and chocolate caramel drink Maltova, its website shows.

Vartika Singh

Vartika Singh is a content writer who loves to write research articles and reports at PharmaShots. She has in-depth knowledge of the life sciences industry including the Pharma and Biotech sectors. Any articles written by her can be contacted at connect@pharmashots.com.

Related post