GSK Sells Consumer Brands In Europe

Drug maker GlaxoSmithKline PLC says it has agreed to sell some of its over-the-counter brands in Europe to Omega Pharma for $614 million.

LONDON (AP) -- Drug maker GlaxoSmithKline PLC says it has agreed to sell some of its over-the-counter brands in Europe to Omega Pharma.

GSK said Thursday that Omega Pharma, based in Nazareth, Belgium, was paying €470 million ($614 million) for brands including stomach antacid Zantac and Nytol cold and allergy medicine.

Others include Lactacyd for feminine hygiene, Solpadeine for pain relief, Beconase for hay fever and Abtei vitamin and mineral supplements.

GSK said the deal includes transferring to Omega Pharma its factory at Herrenberg, Germany, which employs 110 people.

Glaxo announced in December that it was selling some noncore brands in North America to Prestige Brand Holdings, Inc., of Irvington, New York, for $660 million.

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