March 27 (Reuters) - Glaxosmithkline Plc:
* GLAXOSMITHKLINE - TRANSACTION WITH NOVARTIS EXPECTED TO BE ACCRETIVE TO ADJUSTED EARNINGS IN 2018 AND THEREAFTER, AND TO STRENGTHEN CASH FLOW GENERATION
* GSK ALSO TO INITIATE STRATEGIC REVIEW OF HORLICKS AND OTHER CONSUMER NUTRITION PRODUCTS TO SUPPORT TRANSACTION FUNDING.
* ‍REVIEW WILL INCLUDE AN ASSESSMENT OF GROUP’S SHAREHOLDING IN INDIAN SUBSIDIARY, GLAXOSMITHKLINE CONSUMER HEALTHCARE LTD​
* STRATEGIC REVIEW WILL INCLUDE AN ASSESSMENT OF GSK’S 72.5% SHAREHOLDING IN COMPANY
* ‍EXPECTS OUTCOME OF STRATEGIC REVIEW TO BE CONCLUDED AROUND END OF 2018​
* GLAXOSMITHKLINE - CONSUMER HEALTHCARE BUSINESS TO CONTINUE TO INVEST IN GROWTH OPPORTUNITIES FOR OTC, ORAL HEALTH BRANDS, SUCH AS SENSODYNE AND ENO
* GLAXOSMITHKLINE - ACTIVELY INVESTING IN PHARMACEUTICAL, VACCINES BUSINESSES, INCLUDING BUILDING NEW MANUFACTURING CAPACITY IN VEMGAL, KARNATAKA, NASHIK
* GLAXOSMITHKLINE - BUYOUT TO BE STRUCTURED AS CANCELLATION OF NOVARTIS’ SHARES IN JV IN CONSIDERATION OF JOINT VENTURE PAYING BUYOUT PRICE TO NOVARTIS
* GSK HAS ENTERED INTO A COMMITTED FACILITIES AGREEMENT TO SUPPORT FUNDING OF BUYOUT
* JOINT VENTURE WILL CONTINUE TO PAY DIVIDENDS TO GSK AND NOVARTIS IN ACCORDANCE WITH ITS ESTABLISHED PRACTICE UNTIL COMPLETION Further company coverage:
