GlaxoSmithKline PLC, which is considered to be U. K.'s largest drug maker in terms of sales, has shown its interest in expanding its operation in India and Nigeria.

Recently, it has announced that they have been planning to increase their stake in Indian and Nigerian markets. While citing the reason for the same, the company officials said that both are fast growing markets and they can profit from the same aspect.

CEO Andrew Witty said that they have been thinking to increase their stakes in both the markets by more than $1 billion. Witty continued by saying that he wanted to increase the exposure in growing markets and this step will fulfill that objective.

It has been found that GSK will increase its in GlaxoSmithKline Consumer Nigeria Plc from 46.4% to 80%. On the other hand, it will raise its GlaxoSmithKline Consumer Healthcare Ltd share from 43.2% to 75%.

Experts said that it was expected that the pharmaceutical company will take such a step. "This transaction represents a further step in GSK's strategy to invest in the world's fastest growing markets", said David Redfern, who is positioned as chief strategy officer at GSK. It is expected that company is able to realize its plans.