NEW DELHI :
Competitors Fee of India (CCI) stated on Monday it has cleared the acquisition of stake in GlaxoSmithKline Asia Pvt. Ltd. (GSKAPL ) by GlaxoSmithKline Shopper Healthcare Abroad Ltd. and GlaxoSmithKline Shopper Healthcare UK Buying and selling Ltd.
The deal includes collective acquisition of 100% of the shares in GSKAPL by the acquirers. Previous to the transaction, GSKAPL will purchase the logos pertaining to ‘Iodex’ and ‘Ostocalcium’ manufacturers in India together with the authorized, financial, business and advertising rights of such manufacturers and different related property (GSK shopper manufacturers) from GlaxoSmithKline Prescription drugs Ltd.
GlaxoSmithKline Shopper Healthcare Abroad Ltd. is a wholly-owned subsidiary of GlaxoSmithKline Shopper Healthcare Holdings (No.2) Ltd.
GlaxoSmithKline Shopper Healthcare UK Buying and selling Ltd. is engaged within the distribution and sale of shopper healthcare merchandise, manufacturing, advertising, offering administration companies to the buyer healthcare group and offering analysis and improvement companies to different shopper healthcare corporations throughout the GSK group.
GSKAPL is a shopper healthcare firm that’s engaged within the advertising and distribution of oral healthcare merchandise below varied model names corresponding to Sensodyne, Parodontax, Polident and over-the-counter medicines merchandise below the model names corresponding to Crocin, ENO, CCI said.
Supply: Live Mint