ArabFinance: The board of directors of GlaxoSmithKline (GSK Egypt) (BIOC) has endorsed the fair value study report conducted by the independent financial advisor (IFA) Grant Thornton Egypt on GSK Egypt’s consumer health business assets, according to a statement filed to the Egyptian Exchange (EGX).

Under the report, the movable and relevant intangible assets, excluding real estate or machinery, have been valued at EGP 1.179 billion, the company said.

Moreover, the board agreed on holding a meeting to discuss the process of selling these assets after obtaining the relevant regulatory approvals regarding this matter.

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.