Switzerland's Stada Buys 15 Consumer Brands From GlaxoSmithKLine

By Carlo Martuscelli

German pharmaceutical business Stada Arzneimittel AG said Monday that it is acquiring a portfolio of consumer health-care brands from GlaxoSmithKline for an undisclosed amount.

Stada, which specializes in generic and over-the-counter medicines, said it was purchasing 15 brands, including those specializing in vitamins, cold treatments, and sore throat medication.

The deal is expected to close in the second quarter of the year.

GlaxoSmithKline, a FTSE-100 listed drug maker, announced a strategic re-organization earlier in the month aimed at increasing its focus on high-end research. In December 2018, the company said it would combine its consumer-health division with US rival Pfizer's, to eventually spin off the joint venture. The two-year program aims to prepare for the split in 2022, leaving behind a research-focused biopharmaceutical company.

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com

(END) Dow Jones Newswires

February 24, 2020 07:31 ET (12:31 GMT)

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