GSK plans to sell Horlicks brand in UK
GlaxoSmithKline (GSK) intends to sell Horlicks and MaxiNutrition in the UK as part of its strategic business review process.
The company also proposes to close the Horlicks manufacturing facility in Slough, which is expected to affect 320 jobs.
This decision will not impact the Horlicks brand in India and South East Asia.
GSK stated that it is also exploring options to divest some other smaller non-core nutrition brands.
The annual sales of Horlicks and Maxi Nutrition put together reach around £30m in the UK.
GSK intends to focus more on its pharmaceuticals sector, which generates more than 50% of its £27.8bn annual revenues.
Over the next three years, GSK plans to invest more than £140m at its Hertfordshire, County Durham, and Scotland sites.
GSK Global Manufacturing and Supply president Roger Connor said: “We have a substantial manufacturing presence in the UK and continue to support the network with a new investment of more than £140m in the next three years.
“At the same time, we have had to make some decisions that we know will cause uncertainty for some of our employees. We will do all we can to support them through this process.”
GSK Global Affairs president Philip Thomson said: “We are continuing to invest in science and our core businesses in the UK and we continue to see the UK as an attractive place for the life sciences industry.
“We are working constructively with the government and others to develop an ambitious plan for the sector as part of the UK’s new industrial strategy.”
GSK stated the decision to divest the brands is not related to the UK’s move to exit the EU.