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