< Arab Finance - News - Glaxo Group plans to sell Egypt unit
Count Down to relaunch



Glaxo Group plans to sell Egypt unit

Glaxo Group plans to sell Egypt unit

ArabFinance: Hikma Pharmaceuticals intends to buy Glaxo Group's 91.2% stake in GlaxoSmithKline (GSK) Egypt, according to a statement filed to the Egyptian Exchange.

Glaxo Group and Hikma signed a non-binding term sheet for the potential acquisition, the statement highlighted.

 

The non-binding term sheet not only also includes Glaxo Group's pharmaceuticals and consumer healthcare investments, but also its drugs business in Tunisia.

The company earlier announced its plans for a merger with its subsidiary Amoun Pharmaceutical Company.

GSK Egypt, a member of the British pharmaceutical company Glaxo Group, is an Egypt-based company engaged in the manufacture, packaging, marketing, sale, and distribution of pharmaceutical products.

 

#Related keywords

'

Recommended Stocks

11 Oct 2020
Tenth Of Ramadan Pharmaceutica... RMDA
Close
02.61
Change
00
Buy

All rights reserved to Arab Finance 2020 ©

Back to top