GSK, a British multinational pharmaceutical, biologics, vaccines and consumer healthcare company, took the initiative in order to maintain its public listing in the country, pertaining to India's pharmaceutical domain growth history.
According to an official statement, "The approval would result in foreign investment of approximately Rs 6,390 crore in the country." "The acquisition would be done by way of a voluntary open offer under SEBI (SAST regulations) in the pharmaceutical sector."
The above offer came from GSK just seven months after Unilever announced an open offer for its Indian subsidiary. In 2012, GSK had also given its shareholders the opportunity to tender shares through a buyback offer.
GSK's product portfolio in India includes prescription medicines and vaccines across areas such as anti-infectives, dermatology, and gynaecology.
GSK has already announced a Rs 864-crore ($139 million) investment plan, which includes a new factory that will make pharmaceutical products for the Indian market at the rate of 8 billion tablets and 1 billion capsules each year, a warehouse, infrastructure and utilities to support the manufacture and packing of medicines.
By Ruchi Singh
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