This report says Glaxosmithkline (Glaxo India), the Indian arm of the UK drug major, reported a 12.8% drop in third-quarter net profit on Thursday, due to the divestment of its animal healthcare business in July 2006. This announcement comes clos
e on the heels of that of its parent company, GlaxoSmithKline, which disclosed on Wednesday a $3.1 billion programme to cut costs, increase research and development and streamline manufacturing.
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