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SmithKline buys German OTC/vitamin firm; selling Sine-Off, Teldrin, OraFix.

This article was originally published in The Tan Sheet

Executive Summary

SMITHKLINE BUYING GERMAN OTC/VITAMIN COMPANY ABTEI PHARMA-VERTRIEBS GMBH for $142 mil., the firm announced Dec. 21. Bielefeld, Westphalia-based Abtei is said to be the leading mass marketer of OTCs in Germany, with 1994 sales of $77 mil. The deal is expected to close Feb. 1, subject to approval by the Federal Cartel Office in Germany.
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