LONDON (Alliance News) - Perrigo Company PLC Tuesday said it has agreed to acquire a portfolio of over-the-counter brands from GlaxoSmithKline PLC's consumer healthcare arm for an undisclosed cash sum.
Glaxo had committed to the European Commission and other regulators to sell these businesses as part of its plan to form a consumer health joint venture with Novartis International AG.
The portfolio includes Glaxo's nicotine replacement therapy NiQuitin in the European economic area and Brazil, and Novartis's legacy Australian nicotine replacement therapy business, and several other brands including cold and flu treatment Coldrex and pain relief product Panodil.
Shares in Glaxo are trading down 0.9% at 1,443.50 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Glaxosmithkline (GSK)