Perrigo to purchase over-the-counter brands from GlaxoSmithKline

Perrigo has agreed a deal to acquire a number of leading over-the-counter (OTC) brands from GlaxoSmithKline.

The company will pay an undisclosed fee to purchase GlaxoSmithKline's NiQuitin nicotine replacement therapy business, as well as the Coldrex cold and flu treatment brand, Panodil pain relief, and the Nezeril and Nasin nasal decongestants.

It will also purchase several legacy cold sore management products originally developed by Novartis, marketed under the brand names Vectavir, Pencivir, Fenivir, Fenlips and Vectatone.

GlaxoSmithKline is selling the brands as part of the regulatory stipulations associated with its move to form a new consumer health joint venture with Novartis.

This follows Perrigo's acquisition of Omega Pharma earlier this year, a move that turned the business into one of the top five largest players in the global OTC market.

Joseph Papa, Perrigo's chairman, president and chief executive officer, said: "We are committed to making investments in these brands to grow their market positions in key geographies, by following Omega Pharma's proven approach to brand building."