LONDON (dpa-AFX) - GlaxoSmithKline plc (GSK.L, GSK) Thursday reported agreeing to sell its non-core OTC brands in Europe to Omega Pharma (OME.BR) for a cash consideration of 470 million euros, or 391 million pounds. The sale, part of a planned divestment of GlaxoSmithKline's non-core Consumer Healthcare OTC products, may complete in second-quarter 2012.
A pretax profit of approximately 230 million pounds is expected from the disposal, GlaxoSmithKline added, also noting that net cash proceeds from the transaction may total approximately 310 million pounds. The company anticipates returning the cash to shareholders during 2012.
Copyright RTT News/dpa-AFX
© 2012 AFX News
