WARNER-LAMBERT BUYS OTC BRANDS FROM GLAXO
By Adnews Staff
U.S.-based Warner-Lambert Co. is buying Glaxo-Wellcome PLC's stake in all but one of the products in their joint venture to market over-the-counter drugs. The price tag reads $1.05 billion(US). The deal gives Warner-Lambert total ownership of non-prescription drugs such as Sudafed, Actifed, Polysporin and Neosporin. Warner was already responsible for marketing these products, while Glaxo was manufacturing them. In Canada advertising for these drugs is done by J. Walter Thompson and Bates Canada, both of Toronto. Warner-Lambert and Glaxo are still marketing the OTC version of the heartburn medication Zantac together. The duo received approval this week from the U.S. Food and Drug Administration to sell the OTC version there.
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