Glaxo Sells Key European Brands

March 15, 2012
Omega Pharma buys OTC brands.

GlaxoSmithKline, an IW 1000 company, said on March 15 that it would sell a stable of well-known European over-the-counter brands, including Nytol sleep aid, to Belgium's Omega Pharma.

"GSK announced that it has reached agreement to divest the previously identified non-core OTC brands in Europe to Omega Pharma for 470 million euros (US$614 million) in cash," the London-listed company said.

The brands also comprise vitamin supplement Abtei, allergy treatment Beconase, skin cleanser Lactacyd, pain reliever Solpadeine and heartburn product Zantac.

The divestment was expected to be completed in the second quarter but remains subject to regulatory approvals.

GSK revealed in February 2011 that it would seek to sell non-core consumer healthcare products, predominantly in the United States and Europe, to concentrate on priority brands and markets.

In December, it sold a clutch of North American non-prescription drug brands for £426 million (US$ 556 million) to the U.S. group Prestige Brands Holdings.

Last month the company reported that profits had tripled, $8.32 billion in 2011, compared to last year.

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!