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
Shares of Thomas Cook Group Plc. were losing around 11 percent in the morning trading in London after the British tour operator reported Wednesday weak UK margins in its fiscal 2017, despite higher group profit and revenues. Further, the company lifted its final dividend, and said it is well-positioned to achieve a full year operating result in line with market expectations.. Google plans to de-rank articles from Russian state-owned media sites, Russia Today and Sputnik, following allegations about Kremlin meddling in U.S. electoral processes. Eric Schmidt, the executive chairman of Google's parent company Alphabet, said Google would begin to reduce the presence of Russia Today and Sputnik. Federal Communications Commission Chairman Ajit Pai has announced plans to repeal the net neutrality rules implemented under President Barack Obama. Pai, who was appointed by President Donald Trump, said he circulated his draft order to his fellow FCC commissioners Tuesday morning, with the order...
comments powered by Disqus
Follow RTT