Fri, 15 Apr 2011 | DIVISION SALE
UK drugs giant GlaxoSmithKline is preparing to divest 19 brands as it focuses in on its rapid growth products.
The brands facing the chop are mainly sold in Europe and America, and together generated revenues of about £500 million last year, representing ten per cent of the group’s consumer healthcare sales.
Glaxo plans to sell the non-core assets by the end of 2011, and is to commence discussions with interested parties in the next month or so.
Products to be divested include Nytol, a sleep aid; Alli, the controversial weight management drug; Debrox, an earwax cleanser; Valda, a cough/cold treatment; and Abtei, a vitamin supplements.
Glaxo’s CEO Andrew Witty said, “It is important that we focus this business around product categories, brands and markets where we have the most depth and competitive advantage, with the best prospects for strong growth.”
Key brands that are to be retained include Sensodyne, Horlicks and Panadol. The three growing categories are oral health, nutrition, and wellness and over the counter products.
Glaxo say that having refocused on its core products it will hold market-leading positions in smoking control, dental sensitivity, denture care, analgesics and nutrition.
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