LONDON, April 20 (Reuters) – GlaxoSmithKline has
agreed to sell a clutch of international over-the-counter
healthcare brands for 164 million pounds ($263 million) to South
Africa’s Aspen Pharmacare, Britain’s biggest drugmaker
said on Friday.
Net cash proceeds from the transaction are expected to be
approximately 135 million pounds and will be returned to
shareholders during 2012.
The sale is the latest move by GSK to fine-tune its consumer
healthcare business and follows the divestment of other
over-the-counter (OTC) brands in North America and Europe.
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