GSK may put Horlicks on the block to fund $13-billion Novartis deal

The British giant may let go of Horlicks, an 83-year old brand and leader in the Rs 60-billion domestic health food drink market

British pharmaceutical giant GlaxoSmithKline (GSK) is likely to sell its health food drink brand Horlicks to fund a buyout of the residual stake in its consumer healthcare joint venture (JV) with Novartis. 

In a statement on Tuesday, the company said it was considering a strategic review of Horlicks and other consumer nutrition products to support funding of the stake purchase in the consumer healthcare JV with Novartis.

The review would also include an assessment of the company’s 72.5 per cent shareholding in GlaxoSmithKline Consumer Healthcare India, the company said. A board meeting of the latter is slated for Wednesday. “It