Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade GSK now with 

GlaxoSmithKline Plc (GSK: Quote, 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.

Click here to receive FREE breaking news email alerts for GlaxoSmithKline PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The... Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.