GSK keen on Boots group’s over-the-counter medicines arm
GlaxoSmithKline PLC’s incoming head of its consumer healthcare business expressed a strong interest in Boots Group PLC’s over-the-counter medicines arm.
GSKs new head of consumer healthcare John Clarke, who will succeed Jack Ziegler from the end of January,said that GSK would maintain and invest heavily in the British chain if a bid was successful.
In an interview with the Financial Times on Friday, Clarke said: “This is an area of interest for us. The idea of global brands is always attractive for us and we have developed them well.”
BHI, whose brands include Strepsil throat losanges, Nurofen painkillers and Clearasil skincare products, was put up for sale in April, with analysts valuing it at one billion to 1.5 billion pounds (1.5-2.2 billion euros, 1.8-2.7 billion dollars).
Six potential bidders are believed to be on the shortlist preparing offers, ahead of a decision expected in mid-October, the FT said. They include Reckitt Benckiser and GlaxoSmithKline of Britain and Bayer of Germany.
GSK’s chief executive JP Garnier said at the last annual shareholder meeting in May that Europe’s No 1 pharma would take a look at the business when sale documents were posted.
A Boots spokesman declined to comment on the report.
