Stada adds GSK Cetebe supplement brand to its OTC product stable
The deal, thought to be worth more than €300m, includes the venous treatment Venoruton, Coldrex for colds, Mebucaine for sore threats and Tavegyl for allergies, among others.
These products, which account for just over half of the acquired brands’ combined turnover, are sold in countries in Europe including France, Germany, Italy, Poland, Russia, Spain and Switzerland.
“As a broad-based European player with a strong presence in multiple markets, Stada is increasingly the Go-to-Partner in generics and consumer health,” says Peter Goldschmidt, Stada’s CEO.
“The brands being acquired, and their geographic presence, are well aligned with Stada’s core countries and our organic activities.
Drive more growth
“This will enable us to drive additional growth alongside our strong growth in the generics business,” he adds.
“Under our ownership, we believe there is an excellent opportunity to revitalise and grow these consumer healthcare brands.”
The purchase closely follows STADA’s acquisition from GSK last year of five Over-the-Counter (OTC) skincare brands – Ceridal, Eurax, Oilatum, Polytar and Savlon in which their production will be transferred to UK-based manufacturer Thornton & Ross.
The deal also included Tixylix pediatric cough remedies in Europe and selected markets in the Asia-Pacific and Latin America regions.
Stada followed this up In November 2019, with the purchase of OTC and prescription drugs from Japan’s Takeda Pharmaceutical for €609m in a deal that enhanced its presence in the Russian market.
GSK’s sell off is part of its plan to split the firm into two businesses over the next two years in which the pharma giants are to focus on pharmaceuticals development and consumer healthcare.
As the firm’s detailed its year-end report, chief executive officer Emma Walmsley commented, “we are again focused on operational execution, including delivering a successful integration in Consumer Healthcare.
“We are also preparing for the future, starting a new two-year programme to get GSK ready for separation.
“All of this aims to support future growth, deliver significant value creation, and set up two new leading companies in biopharma and consumer healthcare, each with the opportunity to improve the health of hundreds of millions of people.”
Commenting on the latest deal Stada’s Head of Europe Steffen Wagner adds, “We are delighted to be bringing 15 brands with strong local heritage, such as Venoruton, Coldrex and Cetebe into the STADA portfolio. This is an ideal transaction for both parties.”