Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Prestige Brands will acquire GlaxoSmithKline's (GSK) group of over-the-counter (OTC) pharmaceutical brands for $660m in cash.
Subscribe to our email newsletter
GSK’s portfolio of 17 OTC brands comprises pain relievers BC, Goody’s and Ecotrin; gastrointestinal brands Beano, Gaviscon, Phazyme, Tagamet, and Fiber Choice; and Sominex sleep aids.
According to Prestige, the deal would bolster the company’s sales in the upcoming fiscal year.
In addition, the company also said that OTC products make up for 85% of the revenue or $500m.
The US antitrust regulators will review the deal and Prestige seeks to secure financing for the deal.