Omega Pharma has agreed to acquire a portfolio of 60 European OTC and personal care brands from Pfizer for €135 million (approximately $US163 million). The transaction is expected to be completed at or shortly after the end of June 2004.

The portfolio of brands is concentrated in certain therapeutic areas, principally skincare (both medicated and cosmetic), haircare, women's health, head lice treatment and upper respiratory tract. Some of the leading brands in the portfolio include Angstrom, Buttercup, Claire Fisher, Cyklokapron, Eau Précieuse, Fenuril, Lyclear, Restivoil, TCP, and Trofodermin.

Pfizer announced in January 2004 that it would begin exploring strategic options for these products in order to sharpen its focus in Europe on its core brands that have strong regional and global growth potential. The company's consumer healthcare product portfolio in Europe has grown significantly in both size and complexity in recent years, through organic growth and the acquisitions of Warner-Lambert and Pharmacia.

For Omega Pharma, the acquired portfolio complements its existing activities. The transaction will provide Omega Pharma with a significant presence in a number of new countries, including Italy, Ireland, Scandinavia and Switzerland. In countries such as France, Germany and the United Kingdom, where Omega Pharma already has a significant presence, the transaction will broaden the company's position. The transaction also confirms Omega Pharma's position as a leading consolidator of the pan-European OTC market.

Marc Coucke, CEO, Omega Pharma, commented: "This acquisition establishes Omega Pharma as an increasingly important player in the European OTC-market. Our organisation is strengthened by several high potential brands, as well as geographically by establishing operations in eight new countries. This enlarges significantly our synergistic potential for existing and new Star and Key brands and thus will have a very positive impact on our competitive advantage and organic growth."