Stada Boosts OTC Business with GSK Brands
German generics producer Stada is buying 15 over-the-counter (OTC) consumer healthcare brands from GlaxoSmithKline (GSK), marking its second acquisition of branded products from the UK drugmaker within a year.
The brands being acquired include Venoruton venous treatment, Coldrex cold remedy, Cetebe vitamin C supplements, Mebucaine sore throat range and Tavegyl allergy remedy. These five account for just over half of the acquired brands’ combined turnover.
“The brands being acquired, and their geographic presence, are well aligned with Stada’s core countries and our organic activities”, said Stada CEO Peter Goldschmidt. “This will enable us to drive additional growth alongside our strong growth in the generics business. Under our ownership, we believe there is an excellent opportunity to revitalize and grow these consumer healthcare brands.”
The brands are predominantly marketed in Europe, including France, Germany, Switzerland, Spain, Italy, Poland and Russia. The four countries of Germany, Spain, Poland and Russia each account for more than a tenth of the portfolio’s turnover. Also among the top 10 countries by portfolio sales are France, Hungary, Italy, Portugal, Serbia and Switzerland.
The transaction, which remains subject to customary conditions, is expected to close during the second quarter. Financial terms have not been disclosed.
Stada bought five OTC skincare brands from GSK last June. These were Ceridal, Eurax, Oilatum, Polytar and Savlon as well as Tixylix pediatric cough medicines in Europe and selected markets in Asia-Pacific and Latin America.
Last November, in its largest-ever acquisition, the German firm paid $660 million to take some of Takeda’s OTC and prescription drugs sold in Russia, Georgia and several other countries belonging to the Commonwealth of Independent States.