Post the offer, GSK's holding will be 75 per cent from the present 43.2 per cent.
A meeting of the board of directors of GlaxoSmithkline Consumer Healthcare Ltd is scheduled on January 31, 2003, inter alia, to consider and adopt the audited financial results for the year ended December 31, 2002.\n\n\n\n
The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GlaxoSmithKline Consumer Healthcare India
A survey of 1,309 respondents in the age group of 25 to 65, has revealed that Kolkata tops the fatigue chart amongst seven cities covered in the survey. Around 30 per cent of the people surveyed say that Delhiites are second when it comes to stress-related people in India. The survey also reveals that more than 25 per cent of the Indian population is tired due to alarming stress levels.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
The two companies agreed to form a joint venture by combining Novartis' over-the-counter division with GSK's consumer business to create a business with $10 billion in annual sales. GSK will hold a 63.5 per cent stake in the venture.
The company is increasing its exposure to key emerging markets.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
Open offer to increase holding to 75%, fails to enthuse institutional investors.
The sensitivity segment has quadrupled in the past two years, due to the aggressive marketing effort of both GSK and Colgate.
The British pharma and consumer products maker had announced the open offer in November last year to raise its stake in its subsidiary to 75 per cent from 43.16 per cent at present.
Growth in cities has lagged villages as consumers troubled by persistently high inflation have cut spending in the past two years.
Hindustan Unilever, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, Dabur, Nestle and other FMCG companies are lining up initiatives to maximise returns from modern trade channels including hypermarkets and supermarkets.
The 'in-principle' settlement of $3 billion is covered by existing provisions. GSK expects to make payments under a final agreement next year.
The NPPA letter was issued to GSK on Wednesday.
The report analysed product launches of 2011, their success over three years, and reported 31 of the 14,509 products introduced that year were received well by consumers.
GlaxoSmithKline, the world's second biggest drug maker, said it was interested in acquisitions in India if the assets came at the right value.
GlaxoSmithKline Consumer Healthcare is leveraging on Horlicks' brand equity to get into new categories. Will the move pay off?
GlaxoSmithKline Consumer Healthcare on Thursday launched a new, sugar-free, low calorie avtar of its flagship brand Horlicks for health conscious adults.
Of the 16 FMCG firms, 12 companies saw an increase in their respective foreign institutional investors holding in three months ended September 2013 over the year-ago period, while the remaining four witnessed a decline in FIIs stake, according to a report by A C Choksi Share Brokers.
Leading FMCG firm HUL on Thursday said it has switched to green fuel alternatives such as biomass and biodiesel and has eliminated the usage of coal across its operations. The company has collaborated with biomass suppliers and local farmers to ensure sustainable supply of green fuel and has made the necessary changes for the renewable transition in its coal-fired boilers, said an HUL statement. Besides, the shift from coal to renewable energy sources has also resulted in savings for the company, it added.
In separate statements, the two companies said they will combine Novartis' over-the-counter division with GSK's consumer business, creating a new world-leading consumer healthcare business with $10 billion in annual sales.
It takes 6 to 8 months after the approval for a product to hit stores.
GSKAP takes care of all non-nutrition products whereas GSK Consumer Healthcare is a listed entity which deals only in nutritional products.
Food regulator has closed more than 15 files.
Other Health Food Drinks brands of GSK -- Boost, Maltova and Viva -- would come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.
On the macroeconomic data front, PMI data on manufacturing and services sector will also influence trading
Horlicks widens brand appeal in increasingly competitive market.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
After a strict lockdown impacting sales, India has returned to the growth path again, Anglo-Dutch FMCG major Unilever has said. The return of growth of India business, along with Brazil and continued recovery in China, helped the company's emerging markets clock a growth of 5.3 per cent in the September 2020 quarter.
Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal
Hindustan Unilever Ltd, India's largest personal care product maker, on Tuesday reported a better-than-expected increase in its September quarter net profit and revenues, signalling a revival of demand following the world's biggest lockdown.
Names such as Danone, Dabur, Mondelez and Abbott Healthcare have also figured on the list of suitors.
Advertising taglines such as 'Bright in studies, bright in sports' attempted to drive home the message that Bournvita, a chocolate drink, could build a child's mental and physical faculties.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
India was the flavour of the year, at least in the FMCG sector, as multinationals hiked stakes in their subsidiaries lured by long term potential of the country, while homegrown executives made their way to top hierarchy of global firms in 2013.
Anglo-Dutch parent's stake in Indian subsidiary rises from 52.5% to 67.3%.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
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