The Egyptian Drug Authority (EDA) approved the split of GlaxoSmithKline’s (BIOC) movable consumer healthcare assets from its intangible assets.
More Details🧐 GSK Egypt will sell its consumer healthcare assets to GSK Egypt Consumer Healthcare Limited, which will focus on the consumer healthcare business.
An independent financial advisor has set the fair value of the consumer healthcare assets (excluding real estate & machinery) at EGP 1.18 billion, which GSK Egypt’s board of directors approved.
Why is this Important🤔 The move comes as part of the parent company’s global restructuring plan of separating its pharmaceutical & vaccines business from the consumer healthcare business.
