GlaxoSmithKline to sell Lucozade in China
GlaxoSmithKline

Drug multinational GlaxoSmithKline said it would sell, Lucozade, the energy drink, in the Chinese supermarkets, a move signifying drug-maker's effort to push itself into the emerging markets of the world.

GlaxoSmithKline has penned a deal with President Trading to distribute it through out China.

Lucozade was first invented by a Newcastle chemist in 1927 to provide ailing children a glucose boost.

Lucozade, which is mainly sold in Britain, Hong Kong and Ireland, generates around 400 million pounds in sales annually.

It was also informed that Glaxo also struck an agreement worth €1.5 billion to sell its pneumonia as well as meningitis vaccines in Brazil.

Speaking on the topic, analyst Damian McNeela, said, "What we're seeing out of Glaxo is the willingness to do more deals in more territories to expand distribution and increase revenues, and in particular in emerging markets."

The drug-maker is also pursuing discussions to sell Lucozade in other countries such as Germany and Indonesia.

Latest News

NHS Blamed to have Let Down Jade Goody
Electronics giant LG
BlackBerry
Alexander Skvortsov
computer hacking
YouTube founders made big money from its sale to Google: documents
Harsh winter may have hit UK wildlife badly
Batman: Arkham Asylum bags best game title at Bafta
Virgin Media demos 200Mbps broadband at the Ideal Home Show
Google Street View under fire for showing images of secret SAS HQs
Sky to launch 3D service on April 3rd
Oil Futures Slips On Stronger Dollar