GSK sells 15 OTC products to Stada

Feb. 24, 2020

German generic drugmaker Stada said it has agreed to buy 15 consumer healthcare products from GlaxoSmithKline to further strengthen its prescription-free drugs business in Europe, according to a Reuters exclusive.

According to Reuter's sources, private equity-backed Stada agreed to pay more than $325 million for a sale that included the following brands: venous treatment Venoruton, Coldrex cold remedy, Cetebe vitamin C supplements, Mebucaine for sore throats and Tavegyl allergy relief.

GSK, which is in the process of undergoing what CEO Emma Walmsley calls a "transformation"  announced last August that it completed a transaction with Pfizer to combine their consumer healthcare businesses into a world-leading Joint Venture. The recent divestment will help GSK focus on brands with global or larger cross-border reach, while it will help Stada to expand a portfolio of smaller, national products.

Read the Reuters exclusive