GSK sells distribution rights for five OTC skincare brands

Crown Laboratories and Hildred Capital Partners have purchased the North American distribution rights of five over-the-counter (OTC) skincare brands from GlaxoSmithKline (GSK).

The rights for daily acne wash PanOxyl, anti-itch lotion Sarna, anti-fungal product Zeasorb, pain-relieving gel Mineral Ice and anti-fungal powder Desenex will be added to Crown Laboratories’ current portfolio of consumer products.

Crown Laboratories’ chairman and Hildred Capital Partners’ partner David Solomon said: “Facilitating the addition of these highly regarded brands reinforces Hildred’s commitment to work with Crown to build a diversified business with high-quality product offerings across all aspects of dermatology and skincare.

“The addition of these brands provides meaningful diversification for our OTC portfolio and enhances our breadth of trusted consumer skincare therapies.

“We will continue to look for interesting opportunities to build on Crown’s consumer healthcare, aesthetic and prescription product lines.”

OTC medications are developed to enable practitioners to access therapeutic products without incurring the burden of prescription drug costs on the healthcare system.

Crown Laboratories has selected Emerson Group to manage the sale and logistics activities for the newly acquired brands across all retailers.

Lowenstein Sandler served as legal advisor to Crown Laboratories and Hildred for the transaction, while Hayfin Capital Management offered debt financing.

Crosstree Capital Partners (New York) and Latham & Watkins (London) acted as financial and legal advisors, respectively, for GlaxoSmithKline.