GSK To Sell 15 Consumer Healthcare Products to StadaBy
GlaxoSmithKline (GSK) has agreed to sell to Stada, a Bad Vilbel, Germany-based company, a portfolio of 15 local and regional consumer healthcare brands in countries predominantly in Europe for an undisclosed amount.
The portfolio includes cold and flu, pain, and skincare brands. It includes Venoruton, for venous treatment; Coldrex cold remedy, Cetebe vitamin C supplements; Mebucaine sore throat range; and Tavegyl allergy brand. These five brands account for just over half of the acquired brands’ combined sales.
Sales of the GSK Consumer Healthcare portfolio being acquired by Stada are distributed broadly, with Germany, Russia, Poland, and Spain each accounting for more than one-tenth of portfolio sales. Among the top 10 countries by portfolio sales are France, Hungary, Italy, Portugal, Serbia, and Switzerland.
The proposed transaction follows Stada’s acquisition from GSK in 2019 of five over-the-counter skincare brands in Europe and selected markets in the Asia-Pacific and Latin America regions: Ceridal (cetirizine) for hives; Eurax (crotamiton) for itchy skin; Oilatum (light liquid paraffin) for eczema; Polytar (coal tar) for dry hair and scalp; and Savlon (cetrimide, chlorhexidine digluconate) an antiseptic cream. It also included Tixylix (pholcodine) pediatric cough remedies.
The transaction is subject to customary conditions and is expected to close in the second quarter of 2020. No financial details were disclosed of the asset-purchase agreement for full rights, including marketing authorizations.