Glaxo sells international non-core OTC brands to Aspen

GlaxoSmithKline's shareholders are set for another return of capital this year following the divestment of more non-core over-the-counter (OTC) brands in its international markets to Aspen Pharmacare Holdings.

GlaxoSmithKline's shareholders are set for another return of capital this year following the divestment of more non-core over-the-counter (OTC) brands in its international markets to Aspen Pharmacare Holdings.

The company announced on Friday afternoon that it will sell 'Phillips MOM', 'Solpadeine', 'Dequadin', 'Cartia' and 'Zantac' to Aspen for £163m. These brands generated sales of around £60m in 2011, the company said. Net profit on this disposal in 2012 is £105m before tax (after deducting transaction costs and a profit deferral of approximately £25m pre-tax arising because Aspen is an associate of GSK.

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