GSK sells $3.35 billion stake in Hindustan Unilever

Date posted: Tuesday 26 May 2020

GlaxoSmithKline said it sold its stake in Unilever’s Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India. The funds will help GSK in its goal of reinvigorating its drug development pipeline, having made costly bets on experimental cancer treatments and future cell and gene therapies amid sluggish revenue growth.

(Economic Times)