ArabFinance: GlaxoSmithKline’s (GSK Egypt) (BIOC) extraordinary general meeting (EGM) approved selling transferred consumer healthcare and intangible assets worth of EGP 1.179 billion to GSK Consumer Healthcare Egypt Limited, according to a statement filed to the Egyptian Exchange (EGX) on Sunday.

The EGM authorized the board of directors to conduct all necessary procedures relevant to the transactions, the statement noted.

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.