GlaxoSmithkline Pharmaceuticals divests land in Mumbai

31 Aug 2019 Evaluate

GlaxoSmithkline Pharmaceuticals has divested its lands at Thane in Mumbai admeasuring around 2.40 lakh square meters in favour of Oberoi Realty for a total consideration of Rs 889.50 crore. A small portion, admeasuring around 1,410 square meters, is excluded from this sale owing to a stay order passed by the Bombay High Court on October 12, 2017. The company has paid a sum of Rs 337.46 crore towards obtaining all required statutory and regulatory approvals.

GlaxoSmithKline Pharmaceuticals (GSK Rx India) is one of the oldest pharmaceuticals company. The GSK India product portfolio includes prescription medicines and vaccines.

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