OTC divestment approval

RNS Number : 1702Q

AstraZeneca PLC

06 April 2009

 



SALE OF ASTRAZENECA OTC PRODUCT PORTFOLIO CLEARED BY

SWEDISH COMPETITION AUTHORITY

AstraZeneca today announced that the Competition Authority in Sweden has approved the divestment to GlaxoSmithKline of a portfolio of over-the-counter (OTC) products. 

Under the agreement, which was announced in November 2008, AstraZeneca receives SEK 1770 million, approximately $220 million at current exchange rates. The OTC brands, predominantly sold in Sweden, include analgesics Alvedon and Reliv, Nezeril/Nasin for decongestion, Minifom for gastrointestinal disorder and Duroferon for treatment of iron deficiency.

The divestment will be reflected in 'other operating income' in AstraZeneca's second quarter accounts.

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in the research, development, manufacturing and marketing of meaningful prescription medicines and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US$ 31.6 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infectious disease medicines. For more information about AstraZeneca, please visit: www.astrazeneca.com

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6 April 2009

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