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Glaxo Wellcome divests OTCs to Warner-Lambert, puts Greenville, N.C. facility up for sale.

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Executive Summary

GLAXO WELLCOME PUTS GREENVILLE, N.C. PLANT UP FOR SALE; EXITING OTC BUSINESS with sale of the former Wellcome over-the-counter product line to Warner-Lambert. Glaxo Wellcome announced Dec. 19 that it is divesting its interest in the Warner-Wellcome joint venture for $1.05 bil. in cash. As a result of that divestiture, Glaxo Wellcome will be in a position to dispose of the former Burroughs Wellcome manufacturing facility in Greenville.

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