Firm floats venerable (respected because of age, distinguished) malt drink amid planned full buyout of Novartis joint ventureGlaxoSmithKline is putting Horlicks up for sale to aid fund a buyout of the remaining $13bn stake in its consumer healthcare joint-venture with Novartis.
GSK said it was launching a “strategic review” of the 145-year-old malted drink and its other consumer healthcare nutrition products,as it announced plans to buy Novartis’s 36.5% in the joint-venture, formed in 2015.
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Source: guardian.co.uk