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ARTICLE | Company News

GlaxoSmithKline, Omega Pharma deal

March 19, 2012 7:00 AM UTC

GlaxoSmithKline will divest its non-core consumer healthcare OTC products in Europe to Omega for €470 million ($616.4 million) in cash. The brands had £185 million ($290 million) in sales in 2011. Omega will also acquire GSK's Herrenberg, Germany, manufacturing site and about 110 employees from the facility. The divestment, which the pharma said will simplify its consumer healthcare business and allow it to focus on priority brands and markets, is expected to close next quarter. ...