GSK Acquires Full Ownership of Indonesian Consumer Healthcare Business; Divests Manufacturing Facility in IndonesiaBy
GlaxoSmithKline (GSK) has acquired full ownership of its Indonesian Consumer Healthcare business in a transaction which also includes the company divesting a non-core brand and a manufacturing facility in the country.
The transaction is with three connected entities.GSK Consumer Healthcare Pte. Ltd has paid IDR 465 billion (Â£24.6 million)($44.9 million) to Sarasvati Venture Capital Ltd (SVC) for the 30% of the Indonesian Consumer Healthcare business it did not previously own. GSK has also divested its Instoâ„¢ eye drops brand to Pharma Healthcare Pte. Ltd and agreed to divest its manufacturing site at Bogor, Indonesia, to PT Pharma Healthcare for a combined total of IDR 133 billion (Â£7 million) ($11.6 million).