Acquisition of India's Pharma Company Approved

Acquisition by GlaxoSmithKline Consumer Healthcare Overseas Ltd and GlaxoSmithKline Consumer Healthcare UK Trading Ltd of shareholding in GlaxoSmithKline Asia Private Ltd has been approved by the Competition Commission of India.

The proposed combination involves the collective acquisition of 100 percent shares of the GlaxoSmithKline Asia Private Ltd, which will acquire the trademarks about "Iodex" and "Ostocalcium" brands in India along with the legal, economic, commercial, and marketing rights of such brands and other associated assets (GSK Consumer Brands) from GlaxoSmithKline Pharmaceuticals Ltd.

‘Collective acquisition of 10% shares of the GlaxoSmithKline Asia Private Ltd has been approved by the Competition Commission of India.’

GSKAPL is a consumer healthcare company that is engaged in the marketing and distribution of oral healthcare products under various brand names such as Sensodyne, Parodontax, Polident, and over-the-counter medicines products under the brand names such as Crocin, and ENO.

GlaxoSmithKline Consumer Healthcare Overseas Ltd is a wholly-owned subsidiary of GlaxoSmithKline Consumer Healthcare Holdings Ltd. A part of the overall GlaxoSmithkline (GSK) group, its principal activity is to act as an investment holding company for GSK CH HoldCo and its subsidiaries.

GlaxoSmithKline Consumer Healthcare UK Trading Ltd is also a part of the overall GSK group and is a wholly-owned subsidiary of GSK CH HoldCo. It is engaged in the distribution and sale of consumer healthcare products, manufacturing, marketing, providing management services to the consumer healthcare group, and providing research and development services to other consumer healthcare companies within the GSK group.

Source: IANS