GSK headquarters” height=”155″ src=”https://www.pharmaceutical-technology.com/wp-content/uploads/static-progressive/GSKhq.jpg” style=”padding: 10px” width=”300″ />
UK-based pharmaceutical company GlaxoSmithKline (GSK) has agreed to sell some of its over-the-counter healthcare brands to Omega Pharma in a deal worth €470m.
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Belgium-based Omega will acquire brands including Lactacyd, Abtei, Solpadeine, Beconase, Nytol and Zantac, as well as GSK’s manufacturing site in Herrenberg, Germany.
The sale comes months after GSK sold a number of non-prescription drugs in North America to Prestige Brand Holdings for £426m, and comes as part of the company’s restructuring efforts.
GSK announced in February 2011 that it planned to sell non-core brands in Europe and North America in order to focus on priority brands and emerging markets, with the main focus on OTC weight-loss drug Alli that has been the subject of numerous health concerns since its introduction.
GSK confirmed that the sale of Alli is still planned, but had been delayed due to a third party supply interruption that the company is in the process of resolving.
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By GlobalDataThe portfolio of drugs that Omega has acquired achieved combined sales of £185m in 2011 and Omega Pharma chief executive officer Marc Coucke heralded the acquisition’s addition of critical mass in key European markets.
"Several brands from the acquisition will become part of Omega Pharma’s top-20 brands, and all of the brands that are subject to today’s announcement have the potential to grow within our group," added Coucke.
Image: GlaxoSmithKline’s headquarters, located in Brentford, UK. Credit: GlaxoSmithKline
