GlaxoSmithKline to sell off non-core OTC products

GlaxoSmithKline has announced plans to sell off a number of non-core over-the-counter (OTC) product lines as it seeks to refine the focus of its consumer health business.

In line with plans announced in February 2011, the firm will be divesting the analgesic products Solpadeine, BC and Goody's, the feminine hygiene treatment Lactacyd and the weight management agent ALLI, in addition to the Abtei vitamin supplement range.

Combined, these products generated around 500 million pounds in revenues in 2010, but GlaxoSmithKline is seeking to focus more closely on its oral health, wellness/OTC and nutrition categories, as well as its emerging market prospects.

As such, it will open talks with interested parties in the coming weeks with the aim of selling its stake in these brands by the end of 2011.

Andrew Witty, the company's chief executive officer, said: "This divestment is also an example of our commitment to focus on realising value and enhancing returns to shareholders."

In 2010, GlaxoSmithKline's consumer health division generated five billion pounds in sales, up by five percent on the year before.