GlaxoSmithKline Pharmaceuticals has decided to transfer its rights in relation to the Iodex and Ostocalcium brands to GlaxoSmithKline Asia, for an aggregate consideration of Rs 1649 crore. The transaction is expected to be completed before the end of the year, subject to shareholder approval and the customary closing conditions, including relevant regulatory approvals.
GlaxoSmithKline Pharmaceuticals is an Indian subsidiary of GlaxoSmithKline plc. The company business has a broad portfolio of innovative and established medicines, with leadership positions in respiratory and HIV.
