Business Nigeria, India out of purview - Telegraph India

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Mumbai, April 22: GlaxosmithKline Plc has deliberately left India and Nigeria out of the ambit of the new global joint venture that GSK and Novartis are forming for their consumer healthcare business.

It chose to do so because they were the only two countries that had “independently-run businesses” handling GSK’s consumer healthcare products, a spokesperson for GSK told The Telegraph over the phone from London. She added that the UK-based parent did not want to disturb the existing arrangement.

However, the spokesperson did not rule out the possibility of introducing some products from the new global entity’s portfolio in India through GSK Consumer Healthcare, the listed entity on the BSE and the NSE. But this could be done only after the shareholders’ of the new entity pass an enabling resolution.

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Source: Telegraph India
 

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