Aspen Pays $263M For GSK's Zantac, Other OTC Drugs

Law360, New York (April 20, 2012, 12:10 PM EDT) -- GlaxoSmithKline PLC will sell five international over-the-counter drug brands including antacid Zantac for £164 million ($263 million) to South Africa's Aspen Pharmacare Holdings Ltd., GSK said Friday, the third such sale in four months as the company prunes its consumer product line.

GSK said it would return the net cash proceeds from the transaction of about £135 million to investors later this year.

The deal is the latest move by Britain's biggest drugmaker to tweak its consumer health care products, which made up 19 percent of...
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