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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.