UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
month of April 2020
Commission
File Number 001-15170
GlaxoSmithKline plc
(Translation
of registrant's name into English)
980 Great West Road, Brentford, Middlesex, TW8 9GS
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F . . . .X. . . . Form 40-F . . . . . . . .
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ____
Issued: 1 April 2020, London UK
GSK completes divestment of Horlicks and other Consumer Healthcare
nutrition products in India and certain other markets
GlaxoSmithKline plc ("GSK") today announced the completion of
its divestment of Horlicks and other Consumer Healthcare nutrition
products in India to Unilever, including the merger of its Indian
listed entity, GlaxoSmithKline Consumer Healthcare Limited ("GSK
India"), and Hindustan Unilever Limited ("HUL"). This transaction
was previously announced in December 2018 and its completion
follows the receipt of necessary legal and regulatory
approvals.
Through the merger of GSK India with HUL, GSK now holds a 5.7%
stake in HUL, an Indian public company listed on the Indian
National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). GSK
intends to monetise its holding in HUL at such time it considers
appropriate, taking into account market conditions.
India remains an important growth market for GSK and the company is
committed to investing in both its listed Pharmaceuticals business
and its OTC and Oral Health brands in this country. As part of the
transaction, HUL will distribute these Consumer Healthcare brands,
which include market-leading Sensodyne, Crocin, Otrivin and Eno,
for GSK in India. GSK will continue to be responsible for demand
generation, portfolio strategy, R&D and marketing for these
brands.
Brian McNamara, Chief Executive Officer, GSK Consumer Healthcare,
said:
"The close of this transaction signals the beginning of an exciting
new chapter for GSK in India, enabling us to focus and build on our
portfolio of brilliant, science-based OTC and Oral Health brands
and to make these products available to more consumers across the
country."
Today GSK also completed the divestment of Horlicks brands rights
and other Consumer Healthcare nutrition products to Unilever in
other markets for cash proceeds equivalent to £397 million.
Bangladesh closing is expected to follow later this quarter,
subject to local procedures. GSK India is not part of the GSK
Consumer Healthcare Joint Venture with Pfizer and the merger of GSK
India and HUL therefore does not impact the Joint
Venture.
Additional information
Information regarding forward-looking statements
GSK
cautions investors that any forward-looking statements or
projections made by GSK, including those made in this announcement,
are subject to risks and uncertainties that may cause actual
results to differ materially from those projected. Such factors
include, but are not limited to, those described under
Item 3.D "Risk Factors" in the
company's Annual Report on Form 20-F for 2019.
About GSK Consumer Healthcare India
GSK
Consumer Healthcare India is a leading fast-moving consumer
healthcare company with over 500 employees in India and
category-leading brands such as Sensodyne, Eno, Crocin and Otrivin.
Its Mission Health program touches the lives of approximately
90,000 people by focusing on health and well being with projects
dedicated to neglected tropical diseases, dengue management, cleft
and palate surgeries and plastic waste management.
About Hindustan Unilever Limited
Hindustan Unilever Limited (HUL) is India's largest Fast-Moving
Consumer Goods Company with a heritage of over 80 years in India
and touches the lives of nine out of ten Indian households. HUL
works to create a better future every day and helps people feel
good, look good and get more out of life with brands and services
that are good for them and good for others.
About GSK
GSK is a science-led global healthcare company with a special
purpose: to help people do more, feel better, live longer. For
further information please visit www.gsk.com.
GSK enquiries:
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UK Media enquiries:
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Simon Steel
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+44 (0) 20 8047 5502
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(London)
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Eleanor Bunch
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+44 (0) 20 8047 5502
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(London)
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US Media enquiries:
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Kristen Neese
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+1 804 217 8147
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(Philadelphia)
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Analyst/Investor enquiries:
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Sarah Elton-Farr
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+44 (0) 208 047 5194
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(London)
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Danielle Smith
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+44 (0) 20 8047 7562
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(London)
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James Dodwell
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+44 (0) 20 8047 2406
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(London)
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Jeff McLaughlin
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+1 215 751 7002
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(Philadelphia)
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Registered in England & Wales:
No. 3888792
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Registered Office:
980 Great West Road
Brentford, Middlesex
TW8 9GS
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
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GlaxoSmithKline plc
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(Registrant)
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Date: April
01, 2020
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By:/s/ VICTORIA
WHYTE
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Victoria Whyte
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Authorised
Signatory for and on
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behalf
of GlaxoSmithKline plc
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