GSK Sells Off BC and Goody’s Powders

My friends, today is a dark day in the history of traditional, old-timey pharmacy in North Carolina. According to Raleigh News & Observer reporter David Ranii, GlaxoSmithKline has sold their interest in two legendary analgesic powders and other over-the-counter products to Prestige Brands Holdings in Livingston, New York and Cody, Wyoming. Cue the old Pace Picante advertisement about the competitor's "Mexican" salsa made in New York City. GSK even sold off Tagamet. Yes, Sir James Black's cimetidine - the founding histamine H2 receptor antagonist for which Sir James shared the 1988 Nobel Prize in Physiology or Medicine with Trudy Elion and George Hitchings. Hell, they even sold Beano. If you want to know what I'm talking about, seriously, please see my explainer from April on the rich North Carolina history of analgesic powders. A shorter distillation of my post is this story at the North Carolina History Project. The $660 million sales price will put $375 million directly in the hands of shareholders (*check TIAA-CREF mutual funds to see if I hold any $GSK). Sorry, I can't type anymore - I'll be in mourning. In fact, I think I need me a BC Powder.

Author: David Kroll

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1 Comment

  1. “The $660 million sales price will put $375 million directly in the hands of shareholders”

    And I’m assuming the execs will pocket the rest while laying off more scientists? Way to run a company, Witty.