Parent offer talk spurs GSK Pharma

It may be the season of open offers by MNCs. GlaxoSmithKline Consumer started it earlier this year, followed by Unilever and, the latest, McGraw Hill, the parent of Crisil. Now, the parent of GlaxoSmithKline Pharmaceuticals, India’s secondlargest pharma MNC, may be plotting something similar. GSK Pharma shares have risen as much as 10% in each of the past two trading sessions amid speculation that promoter GSK Plc may announce an offer to increase stake to 75% from 50.67%.

“We do not comment on market speculation,” said company spokesperson Rupali Kalav. GSK has a large presence in India, one of the biggest pharmaceutical markets. Generic exports from India will play a big role in GSK’s global business plan. “GSK Plc’s India plan could be in line with its bid to deepen exposure in emerging markets,” said an analyst.