GSK Strikes $613M Deal With Omega For OTC Brands, Plant

Law360, New York (March 15, 2012, 6:10 PM EDT) -- British pharmaceutical giant GlaxoSmithKline PLC has agreed to sell six European over-the-counter drug brands and a manufacturing plant to Omega Pharma for €470 million ($613.6 million), in a continued effort to lighten itself of noncore assets, GSK said Thursday.

Per the deal, Belgium-based Omega will be snatching up antacid, pain relief and other brands that generated approximately £185 million in 2011. It will also be taking over a German manufacturing plant and its 110 employees, according to GSK.

Pending regulatory approval, the transaction is expected to...
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