GlaxoSmithKline (GSK) has reportedly paid Rs 6,400 crore to raise its stake in its Indian pharmaceuticals unit -- GlaxoSmithKline Pharmaceuticals (GSK Pharma) -- to 75%, as it banks on rising demand for medicines in emerging markets.
The Britain’s biggest drug-maker first announced plans to lift the holding in GSK Pharma from 50.7% in December 2013. It held an open offer to buy the extra shares at Rs 3,100 each from February 18 to March 5. Moreover, final payment for shares tendered and accepted will be completed by March 20.
As on December 2013, the promoters holding in the company stood at 50.67%, while institutions and non-institutions held 33.97% and 15.36% stake in the company, respectively.
GlaxoSmithKline Pharmaceuticals is one oldest pharmaceutical company in India. Internationally it has created many brands such as Ribena, Horlicks, Lucozade, Aquafresh, Sensodyne, Panadol, Tums and Zovirax, among others. It employs 5,000 people and has turnover of more than $1 billion in India.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1668.00 |
| Dr. Reddys Lab | 1232.25 |
| Cipla | 1228.90 |
| Zydus Lifesciences | 936.35 |
| Lupin | 2328.60 |
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