logo
Share SHARE
FONT-SIZE Plus   Neg

GSK Inks Pact With Aspen POharmacare To Divest Its Non-core OTC Brands

GlaxoSmithKline Plc (GSK, GSK.L) Friday announced that it has inked a pact with Aspen Pharmacare Holdings Limited to divest all of its non-core OTC brands in its international market to the latter for a total consideration of 164 million pounds in cash.

The company stated that the divestment of these non-core OTC brands is expected to be completed in the second quarter of 2012, subject to regulatory approvals.

The company revealed that the brands being divested include Phillips MOM, Solpadeine, Dequadin, Cartia and Zantac.

GlaxoSmithKline further added that it intends to receive net cash proceeds of approximately 135 million pounds from the transaction, and the same is proposed to be returned back to the shareholders.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had... Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled.
comments powered by Disqus
Follow RTT