FRANKFURT, Sept 19 (Reuters) - German generic drugmaker Stada is intereste
d in buying the European part of non-prescription drugs businesses GlaxoSmithKline is selling, a German paper reported.
Stada has set aside several hundred million euros for the purchase and has hired HSBC as an advisor, Financial Times Deutschland cited financial and industry sources as saying in its Monday edition.
Stada is keen to expand its branded non-prescription drugs operations to lower its dependence on the highly regulated business of marketing generic copies of prescription drugs.
A Stada spokesman declined to comment to Reuters.
Glaxo, Britain's biggest drugmaker, has put up for sale several businesses marketing over-the-counter (OTC) products with combined revenue of around 500 million pounds ($790 million).
FTD said the assets Stada was eyeing have annual sales of about 190 million pounds, and that Glaxo wanted to sell the businesses to a single buyer.
Industry analysts have estimated the assets -- which include painkillers, vitamin supplements and the diet pill Alli, sold primarily in Europe and the United States -- might fetch 1.5-2.0 billion pounds.
DZ Bank analyst Michael Bissinger said in a note the volume of the transaction Stada was looking into should 500-850 million euros ($689-$1,172 million) and the company would probably need a capital increase to fund it, making a deal seem less likely.
($1 = 0.633 pound = 0.725 euro)
(Reporting by Ludwig Burger; Editing by Dan Lalor) Keywords: STADA/GLAXO
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