The Daily Telegraph

GSK ups stake in Saudi business

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FTSE 100 drugmaker Glaxosmith­kline has lifted its stake in its Saudi Arabia business to 75pc from 49pc as the kingdom focuses on transformi­ng the healthcare sector under its 2030 plan to reduce its reliance on oil. GSK also said it would be investing 900m riyals (£180m) in the Saudi unit over the next three years and expanding production.

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