Drug major GlaxoSmithKline Plc (GSK) has increased its stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare to 72.5 per cent in a transaction worth Rs.4,800 crore.

In a statement, GSK said pursuant to the voluntary open offer undertaken by its subsidiary, GlaxoSmithKline Pte Ltd. it has increased its stake in GlaxoSmithKline Consumer Healthcare, its publicly-listed consumer healthcare subsidiary in India, from 43.2 per cent to 72.5 per cent. “We are very pleased with the outcome of this transaction, which will further increase our exposure to a key emerging market,” GSK Chief Strategy Officer David Redfern said. — PTI