GlaxoSmithKline Consumer Healthcare Pakistan Limited (GSKCH) was listed on the Pakistan Stock Exchange (PSX) on Wednesday. Following the listing, its share price hit an upper lock rising to the one-day maximum ceiling cap of 5% after opening at Rs61.98 per share.
GSKCH Chief Financial Officer (CFO) Farhan Muhammad Haroon stated that GSK has separated its healthcare business globally. This separation would give the new company an opportunity to advertise its products in the media. Pharmaceutical brands are barred from advertising their products and only doctors prescribe medicines, he added.
The newly formed company has a product portfolio of over 50 products which are likely to attract attention given the rise in consumerism in Pakistan. GSK Pakistan separated its consumer healthcare business into a separate entity, GSKCH Pakistan in April 2016. The purpose of the separation is to conduct core business operations with greater focus.
The CFO stated that GSKCH has a paid-up capital of Rs955m, while its authorised capital stands at Rs1b.
