Germany's Stada buys 15 GSK consumer health brands

Private equity-backed generic drugmaker Stada said it has agreed to buy 15 consumer healthcare products from British drugmaker GlaxoSmithKline to further strengthen its prescription-free drugs business in Europe.

The brands - venous treatment Venoruton, Coldrex cold remedy, Cetebe vitamin C supplements, Mebucaine for sore throats and Tavegyl allergy relief, among others - are marketed in more than 40 countries including Germany, Russia, Poland and Spain.

Stada agreed to pay more than 300 million euros ($325 million) according to two people familiar with the transaction.