GlaxoSmithKline said to consider sale of Horlicks in the UK

GlaxoSmithKline was in focus on Wednesday amid reports the pharmaceuticals giant is looking to sell off its Horlicks business.

According to the BBC, it wants to sell the business in the UK but keep it in India, where it is marketed as a nutritional drink to children and has seen strong growth.

Meanwhile, ITV's Robert Peston said a source was insistent that Glaxo was trying to sell off Horlicks as a preparation for Brexit. According to a second source, however, the sale plans have nothing to do with Brexit.

Glaxo declined to comment on the reports.

At 1130 BST, the shares were up 0.2% to 1,603.50p.