STERLING's $675 MIL. NON-U.S. OTC BUSINESS
This article was originally published in The Tan Sheet
STERLING's $675 MIL. NON-U.S. OTC BUSINESS appears to be the prime attraction behind SmithKline Beecham's $2.9 bil. cash offer for Sterling Winthrop's nonprescription drug business. With its position as the leading OTC marketer in Europe, Australia, New Zealand, and other international markets such as Latin America and the Pacific Rim (excluding Japan), Sterling will complement SmithKline's strength in the U.S., the U.K. and Germany. Sterling's business outside the U.S. made up 67% of its more than $1 bil. in sales in 1993.
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