Report: GSK brands on sales block peak interest
BRUSSELS — GlaxoSmithKline has garnered strong interest in its portfolio of legacy brands that were placed on the sales block earlier this year, according to a Reuters report published Tuesday. And that interest is likely to pick up in the coming months, GSK CEO Andrew Witty told reporters during a meeting of pharmaceutical industry executives.
The interest is coming from both established consumer healthcare companies, as well as private equity houses, the report noted.
Citing industry analysts, Reuters reported the auction is expected to generate between $2.2 billion and $2.9 billion. The products being auctioned accumulated sales of approximately $816.9 million in 2010. The brand names being sold include analgesics Solpadeine, BC and Goody’s; vitamin and supplement product Abtei; feminine hygiene treatment Lactacyd; and Alli for weight management.