GlaxoSmithKline - Divestment of non-core over-the-counter (OTC) brands in USA and Canada

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Slaughter and May advised GlaxoSmithKline on an agreement with Prestige Brands Holdings Inc to divest non-core Healthcare OTC products in the United States and Canada for £426 million ($660 million). The brands being divested include BC, Goody's, Beano, Fiber Choice, Ecotrin and Tagamet and generated sales of approximately £134 million in 2010. It is expected the divestment will complete in H1 2012 and is subject to regulatory approvals. Slaughter and May continues to advise GlaxoSmithKline on its divestment of non-core Healthcare OTC brands outside the United States and Canada.  

The brands being divested represent approximately 10 percent of GlaxoSmithKline's consumer health portfolio. The divestment is designed to simplify GlaxoSmithKline's Consumer Healthcare business and allow it to focus on its priority brands and markets.

Sidley Austin LLP advised GlaxoSmithKline on US law.

Corporate and Commercial: David Johnson (partner), Richard Smith (partner), Christian Boney (associate), Georgie Fast (associate), Praajakta Pargaonkar (associate), Tanya de Villiers (associate), Anisa Hanif (associate), Tim Follet (associate), Hannah Sweilam (trainee), Christine Wang (trainee), Alice McDonald (trainee); IP/IT: Cathy Connolly (partner), Duncan Blaikie (associate), Wen Zhao (associate); Financing: Guy O'Keefe (partner), Ed Fife (associate), Richard Fletcher (associate); Tax: Jeanette Zaman (partner), James Hume (associate); Pensions and Employment: Roland Doughty (partner), Joanna Morgan (associate); Commercial Real Estate/Environment: Edward Keeble (partner), Samantha Brady (associate)