Switzerland's Stada Buys 15 Consumer Brands From GlaxoSmithKLine
24 February 2020 - 11:46PM
Dow Jones News
By Carlo Martuscelli
German pharmaceutical business Stada Arzneimittel AG said Monday
that it is acquiring a portfolio of consumer health-care brands
from GlaxoSmithKline for an undisclosed amount.
Stada, which specializes in generic and over-the-counter
medicines, said it was purchasing 15 brands, including those
specializing in vitamins, cold treatments, and sore throat
medication.
The deal is expected to close in the second quarter of the
year.
GlaxoSmithKline, a FTSE-100 listed drug maker, announced a
strategic re-organization earlier in the month aimed at increasing
its focus on high-end research. In December 2018, the company said
it would combine its consumer-health division with US rival
Pfizer's, to eventually spin off the joint venture. The two-year
program aims to prepare for the split in 2022, leaving behind a
research-focused biopharmaceutical company.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com
(END) Dow Jones Newswires
February 24, 2020 07:31 ET (12:31 GMT)
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