GSK to Divest Over-The-Counter Brands for £426 Million
GlaxoSmithKline yesterday announced that they are to divest a number of non-core over-the-counter (OTC) brands in the USA, Canada and Europe to Prestige Brands Holdings for £426 million. The intention to divest the brands had been announced in February 2011, and was proposed to realise value for shareholders, and to simplify GlaxoSmithKline’s consumer healthcare business.