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
French oil and gas giant Total SA (TTA.L, TTFNF.PK, TOT) reported Wednesday a profit for the second quarter that declined four percent from last year, reflecting a sales decline amid sharply lower oil prices. However, hydrocarbon production grew 12 percent from last year. The company's results were... Procter & Gamble Co., (PG) Tuesday announced the promotion of David Taylor to the role of Chief Executive Officer, as the consumer goods giant replaces Chief Executive A.G. Lafley for the second time. David Taylor, a 35-year-veteran and currently Group President of Global Beauty, Grooming and Health... Anadarko Petroleum reported a plunge in second-quarter profit, hurt by weak oil prices, partly offset by some derivative gains. However, its earnings topped Street estimates, driven by operational efficiencies and sales of higher-margin oil. Anadarko shares...
comments powered by Disqus
Follow RTT