Cairo – Mubasher: The board of directors of Glaxo SmithKline (GSK Egypt) has rejected a request from the Arab Company for Drug Industries & Medical Appliances (ACDIMA) to conduct due diligence on the company, according to a bourse disclosure on Monday.

The majority shareholder of the company, Galxo Group Limited, previously terminated talks with potential buyers, indicating that it is currently not willing to sell its stake in the company. 

During the first nine months of 2020, GSK Egypt reported net profits of EGP 101.41 million, up from EGP 67.03 million in the corresponding period a year earlier.