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    • GSK sells 6 brands...

    GSK sells 6 brands including Savlon antiseptic cream to Stada Pharma

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-06-08T10:00:16+05:30  |  Updated On 16 Aug 2021 3:47 PM IST

    The price tag for the mainly Europe-focused brand portfolio, which includes itch relief cream Eurax, antiseptic cream Savlon and Tixylix cough liquids, was in the high double-digit million-pound range, according to a person close to the deal.


    U.S: Private equity-backed generic drugmaker Stada said on Friday it would buy six consumer healthcare products from British drugmaker GlaxoSmithKline to bolster its presence in Europe.


    The price tag for the mainly Europe-focused brand portfolio, which includes itch relief cream Eurax, antiseptic cream Savlon and Tixylix cough liquids, was in the high double-digit million-pound range, according to a person close to the deal.


    Stada declined to comment on the price.


    GSK is streamlining its product offering as it prepares to fold its consumer business into a joint venture with Pfizer by the second half of this year, creating a market leader that will primarily look to the United States and China for growth.


    Read Also: GSK Consumers Healthcare gets shareholders' nod for merger with HUL

    Stada CEO Peter Goldschmidt said the company, which will fold the brands into its British Thornton & Ross unit, would bring to bear its knowledge of complex European healthcare markets that some global players are lacking, also with a view to future deals or alliances.


    "We have a strong presence in almost all the European countries, there are not many companies where that is the case. For companies in, say, the United States, India or China that are looking for a European partner we are the go-to partner," the CEO told Reuters.


    The German company, majority owned by buyout firms Bain and Cinven since 2017, reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of just over 500 million euros last year on sales of 2.3 billion euros.


    Read Also: GSK reintroduce incentives for sales representatives
    amortizationanticeptic creamantiseptic cream SavlonBritish drugmaker GlaxoSmithKlinechinaconsumer productsdepreciationEBITDAEuraxgeneric drugmaker StadaGermanyGSKHealthcareinterestPeter GoldschmidtPfizerSavlonStadataxesTixylixTixylix cough liquidsUnited States
    Source : Reuters

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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