Glaxo sells key European brands to Belgium's Omega Pharma

British drugmaker GlaxoSmithKline said Thursday that it would sell a stable of well-known European over-the-counter brands, including Nytol sleep aid, to Belgium's Omega Pharma.

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

The brands also comprise Abtei, allergy treatment Beconase, skin cleanser Lactacyd, 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 to the US group Prestige Brands Holdings.

add to favorites email to friend print save as pdf

Related Stories

GlaxoSmithKline posts rising Q3 profits

Oct 26, 2011

British drugmaker GlaxoSmithKline said Wednesday that third-quarter net profit rose seven percent, boosted by growth across its main pharmaceuticals, vaccines and consumer healthcare divisions.

Google+ opens up to businesses, brands

Nov 07, 2011

Google opened its social network Google+ to businesses and brands on Monday as it seeks to expand the audience for its rival to Facebook.

Expedia to spin off TripAdvisor

Apr 08, 2011

Online travel giant Expedia announced plans on Thursday to spin off TripAdvisor into a separate publicly traded company later this year.

Recommended for you

Were clinical trial practices in East Germany questionable?

Oct 23, 2014

Clinical trials carried out in the former East Germany in the second half of the 20th century were not always with the full knowledge or understanding of participants with some questionable practices taking place, according ...

Schumacher's doctor sees progress after injury

Oct 23, 2014

A French physician who treated Michael Schumacher for nearly six months after the Formula One champion struck his head in a ski accident says he is no longer in a coma and predicted a possible recovery within three years.

User comments