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Prestige acquires 17 noncore OTC products from GSK for £426mm
23 Apr 2014
Nearly a year after announcing plans to divest noncore OTC brands, GlaxoSmithKline PLC has sold a group of 17 products on the market in the US and Canada to Prestige Brands Holdings Inc. (consumer health care and cleaning products) for £426mm ($660mm). Besides Prestige, many other suitors were rumored to have had their eyes on the assets, including Stada, private equity firm Thomas H. Lee Partners, and VC Bain Capital.
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